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  • How are Joint Bankruptcy Petitions Handled?

    Posted by Atty. Dave Falvey in Bankruptcy Information.

    Many times a husband and wife will have to decide if they should file together, file separately or if just one spouse needs to file. There can be financial and practical advantages and disadvantages to all scenarios. There may also be legal pros and cons to each scenario. The Bankruptcy Court does allow a husband […]

  • Understanding Bankruptcy and Cosigners

    Posted by Atty. Dave Falvey in Bankruptcy Advice.

    Chapter 13 Can Help Your Co-Signer and Protect Them Often when someone applies for a loan, the loan applicant gets a cosigner to sign on it too. Sometimes this is because the applicant is young and needs a parent to back the loan. Other times, the business or person giving the loan wants someone with […]

  • A Bank with Sticky Fingers Counts Their Pennies – It’s Time You Count Yours With Our New App

    Posted by Atty. Dave Falvey in Scams.

    Many people I know don’t take their pennies seriously. Many think that Ben Franklin’s saying that ‘a penny saved, is a penny earned’ doesn’t stand anymore. But Citizens Bank and many other banks take their pennies very seriously. Here’s a recent editorial from the New York Times: Our suggestion? You should consider joining Pennywatchers.org. Give us a visit. The […]

  • Budget And Debt Management Tips To Reduce Your Debts

    Posted by Atty. Dave Falvey in Debt Management.

    I get asked for budgeting and debt management tips quite frequently so we put together a list of common ideas to help get you going. Many of the reasons people have to file for bankruptcy are outside their control; a loss of a job, an automobile accident or disabling accident, or a divorce can cause your income to suddenly fall […]

  • Suggestions for Reaffirmation In Bankruptcy

    Posted by Atty. Dave Falvey in Chapter 7.

    Chapter 7 debtors, if they end up passing the means test, can discharge all of their unsecured debts. Secured assets are normally sold by the Trustee in Bankruptcy or the creditor with the security interest acquires the property. Chapter 13 is a possible option for debtors with a lot of secured property who want to […]

  • Can I Avoid Liens In Bankruptcy?

    Posted by Atty. Dave Falvey in Bankruptcy Information.

    Today we’re going to talk about NPMSI. NPMSI stands for “Non-purchase money security interest loans” and occur when a borrower already owns property that is used as collateral for a loan. For instance, as a borrower, you may take a loan from a finance company and use household goods and/or jewelry for example, as collateral […]

  • How Do Taxes And Bankruptcy Work?

    Posted by Atty. Dave Falvey in Consumer Bankruptcy.

    Are you wondering whether you have to pay off your taxes if you’re having a difficult time paying your debts? If so this article will help you get a clear understanding of how paying off taxes are affected by bankruptcy and whether or not you can file bankruptcy to discharge the tax debt. If you […]

  • The Forms Needed For A Chapter 7 Bankruptcy Filing

    Posted by Atty. Dave Falvey in Bankruptcy Information.

    In addition to filing the Voluntary Petition form, Chapter 7 consumer debtors need to file the following supporting documents. Your local bankruptcy attorney will explain the time requirements, and what each document means in more detail but this is a general list of the forms you can refer to once you’ve decided to go the route […]

  • Learn About Bankruptcy, Divorce And Marriage

    Posted by Atty. Dave Falvey in Bankruptcy.

    When a debtor files a bankruptcy he or she usually files in his or her own name. Still, the bankruptcy can affect many other family members. Often times, the reverse can also be true. It’s no surprise that a divorce can lead to the need for filing bankruptcy. Generally speaking, it’s easier for couples to pay […]

  • Bankruptcy And Real Estate – Will You Lose Your Home?

    Posted by Atty. Dave Falvey in Bankruptcy Advice.

    The biggest assets most people have is their home. The fear of losing a home is one of the things that makes bankruptcy so traumatic. Before the bankruptcy filing, there are the constant calls from creditors, attempts by creditors to get judgments or liens against the property, and for many in the past decade the […]

  • Read The Top 10 Reasons When Declaring Bankruptcy Is A Good Choice

    Posted by Atty. Dave Falvey in Bankruptcy Advice.

    The nature of being declared as having too much debt to creditors and other investors is a major reason for being declared bankrupt whether as an individual or company. Bankruptcy statistics indicate that at least 10 percent of the population in each county in Connecticut filed for bankruptcy petition in the year of 2014. Is […]

  • Useful Information About Bankruptcy And Short Sales

    Posted by Atty. Dave Falvey in Bankruptcy Information.

    These days many homeowners find that their home is worth less than the amount of their mortgage. A tragedy yes, but this is largely due to the fact the most homes lost their economic value due to the 2008 recession. Because the homeowner’s judgments and liens are worth more than the value of the house, […]

  • What Are The Filing Fees For Chapter 7 and Chapter 13 Bankruptcy?

    Posted by Atty. Dave Falvey in Chapter 7.

    Once step in the process of bankruptcy, specifically related to chapter 7 and chapter 13, are the filing fees. Knowing these fees are important, but for chapter 7 bankruptcy, it’s important to first determine whether you actually qualify for it. You can make this determination by completing the Chapter 7 Means Test for your county […]

  • Student Loans in Bankruptcy at Mount Suribachi, Iwo Jima

    Posted by Atty. Dave Falvey in Scams, Student Loans and Bankruptcy.

    are desperate to find a remedy for their student loan problems. It’s near impossible to obtain a discharge of a student loan in Bankruptcy Court due to the ‘Brunner Test’. Passing the ‘Brunner Test’ in order to prove a hardship is more difficult than the Marines raising the flag at Mount Suribachi during the Battle […]

  • How Can I Find Out To Whom I Owe Money

    Posted by Atty. Dave Falvey in Connecticut Bankruptcy Summaries.

    This is a good question, and it’s one that needs to be answered and resolved when it comes to filing bankruptcy. Please not that this information is only for my clients in Connecticut for reasons which will be laid out below, but there are still many tips in this article that one can take to […]

  • If I File Bankruptcy Will Creditors Stop Calling?

    Posted by Atty. Dave Falvey in Consumer Rights.

    In all my years of providing bankruptcy services, the one question I’m happy to answer yes to is “will filing bankruptcy stop the harassing phone calls?’. Filing bankruptcy absolutely does stop the creditor phone calls. There are two laws which pertain to phone calls from creditors, There’s the Federal Fair Debt Collection Practices Act (FDCPA), […]

  • Some Of The Top Reasons People File Bankruptcy

    Posted by Atty. Dave Falvey in Bankruptcy Information.

    What are the top reasons that people file for bankruptcy? Divorce, car accidents, losing a job, under employment, gambling and shopping addictions, shipping bills and mismanagement of credit cards are all some of the top causes for filing bankruptcy. Most people know, but do not believe we are all a bubble away from a health […]

  • A Fresh Start – Improving Your Credit Score After Bankruptcy

    Posted by Atty. Dave Falvey in Credit Improvement.

    Most attorneys are taught in law school that if someone files for bankruptcy protection, they can achieve a fresh start, and therefore so many of the ads we see by attorneys will state just that “file bankruptcy for a fresh start” but after many years of practice I have found that this statement is only […]

  • What Exactly Is Bankruptcy?

    Posted by Atty. Dave Falvey in Bankruptcy Information.

    Historically bankruptcy is found in the bible, in chapter 15, in the book of Deuteronomy. Is says that at the end of every 7 year period, “you shall have relaxation of debts, which should be observed as follows:” every creditor shall relax his claim on what he has loaned his neighbor he must not press […]

  • Double Standards In Bankruptcies

    Posted by Atty. Dave Falvey in Bankruptcy, Consumer Rights.

    DOUBLE STANDARDS IN BANKRUPTCIES was the headline which was recently published my the New York Times as an Editorial , April, 2014. The Editorial Board pointed out that the bankruptcy of the City of Detroit in Chapter 9 exposed this double standard. The pensioners payments from the City of Detroit are guaranteed under the Michigan Constitution, […]

  • Home Loan Servicers Must Cooperate With Homeowners

    Posted by Atty. Dave Falvey in Bankruptcy Advice.

    Fortunately, new foreclosure rules mandate that home loan servicers must cooperate with homeowners to seek loss mitigation options before foreclosing on your home. Why? For many Americans, a small financial hiccup can cause big trouble and a few missed mortgage payments can spell disaster. To take advantage of this “forced” cooperation, you must understand the process […]

  • What Is A Chapter 13 Co-Debtor Stay?

    Posted by Atty. Dave Falvey in Chapter 13.

    When a debtor files a bankruptcy case, the automatic stay is triggered. The automatic stay is a temporary court injunction that stops collection actions against a debtor. The automatic stay is invoked immediately upon filing the case by the federal Bankruptcy Code – no hearing is necessary and no judge’s signature is required. The automatic […]

  • Pros And Cons Of Reaffirming A Vehicle Loan During Bankruptcy

    Posted by Atty. Dave Falvey in Bankruptcy Advice.

    ONCE UPON A TIME, many bankruptcy debtors lived in a land of golden sunshine. In that land, at that time, Chapter 7 debtors were not obligated to reaffirm a secured loan in order to keep a vehicle. The debtor’s personal liability was washed away by the Chapter 7 discharge, and only the lien against the […]

  • When Are You Ineligible for Chapter 7 Bankruptcy Discharge?

    Posted by Atty. Dave Falvey in Bankruptcy Advice, Chapter 7.

    Just mentioning Section 727 of the Bankruptcy Code makes debtor attorneys cringe and bankruptcy trustees puff out their chests. This section deals with the discharge in a Chapter 7 case and is referred to when discussing a “total denial of discharge.” Very scary stuff. Section 727 is simply entitled “Discharge,” and its provisions only apply […]

  • Help With Choosing Exemptions In Bankruptcy

    Posted by Atty. Dave Falvey in Bankruptcy Information, Exemptions.

    Exemptions play a large part in bankruptcy and knowing what they are and how they work is important to your case. Although your attorney takes care of working out this part of your case, it’s with your help that you get the protection you need. Exemptions play a part in other legal areas but today […]

  • Why Did The Chicken Cross The Road? To File Bankruptcy?

    Posted by Atty. Dave Falvey in Bankruptcy.

    Have you ever wondered why the chicken crossed the road? We were under the impression it was to file bankruptcy, but by the looks of it, we might be wrong. So just to make sure, we did our research and put together a list of famous people and their answers to the famous question “why […]

  • What Happens to my Tax Refund in Bankruptcy?

    Posted by Atty. Dave Falvey in Bankruptcy Advice, Consumer Bankruptcy.

    During the first part of any year, personal bankruptcy filings become more interesting due to income tax refunds. Most people never think about it, but your tax refund accrues during the year. The amount that you are owed, and, consequently, the amount the bankruptcy estate is entitled to receive, is a percentage based on the […]

  • Properly Selling Property Before Filing Bankruptcy

    Posted by Atty. Dave Falvey in Consumer Bankruptcy, Exemptions.

    Anyone going through bankruptcy would like sound advice on dealing with the sale and proceeds of property they own. Read on to find information on how to properly handle the sale of your property and help your bankruptcy case move along smoothly. Let’s start with your non-exempt equity Non-exempt equity in a Chapter 7 bankruptcy […]

  • Can You Get A Discharge For A Drunk Driving Debt? Read This To Find Out

    Posted by Atty. Dave Falvey in Bankruptcy Advice, CT Bankruptcy.

    Have you been ordered to pay restitution for a debt that was the result of drunk driving and want to know if the debt can be discharged in bankruptcy? The answer to your question in this regard isn’t an easy one. This article looks at some sections of the Bankruptcy Code that pose stumbling blocks to […]

  • Beware the IDES of Student Loans

    Posted by Atty. Dave Falvey in Consumer Rights, Debtor Rights.

    Recently The Day ran a column on the front page about student loans. The journalist, Natalie Kitroeff, wrote for the New York Times, “Aggressive action of agency that monitors student loans faces scrutiny’. In the article Natalie introduced us to Stacy Jorgensen who had pancreatic cancer and couldn’t have her student loans discharged in bankruptcy […]

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