If your house is to be foreclosed and there is a pending Trustee Sale date, a very powerful way to stop it is by filing bankruptcy. You need to file it before the Trustee Sale date if you want to keep your house.
Question: What is the best Chapter in bankruptcy should I file?
Answer: If you want [...]

The stock market crashed again last week to a low level since 2008. According to many economists, the next recession or great depression will be very painful and worldwide. Consider the following events:
1. The U.S. national debt of $14 Trillion is equal to 100% of our gross domestic product. The U. S. economy [...]

If you received Form 1099c from your lender because of foreclosure, short sale, loan modification or debt settlement, the general rule is it is a reportable income. There are however few exceptions that may apply. The exceptions are Home Affordable Loan Modification Program reduction of debt on principal residence. The other exceptions [...]

Question: Can I discharge the real estate taxes due on my house if I file bankruptcy?
Answer: Real estate taxes are considered secured debts because it includes personal liability and lien on the property subject to the tax. In bankruptcy, only the personal liability is discharged. The lien on the property is still attached [...]

By Crispin Caday Lozano
In a published article in Smart Money, Debt Settlement: A costly escape, it enumerates the dangers of debt settlement or debt consolidation. After verifying the information published from other sources and corroborating the information with my personal experience I summarized the various findings as follows:
1. Many creditors will escalate collection [...]

If you are in debt settlement you can still file bankruptcy. Bankruptcy can cancel any contract you made on debt settlement without any problem. Filing bankruptcy could take between three to six months to process. Once the case is filed, no creditors will make a collection call or file a case in [...]

According to many economists, the next recession or great depression will be very painful and worldwide. Consider the following events:
1. The U.S. national debt of $14 Trillion is equal to 100% of our gross domestic product. The U. S. economy will only grow 2% this year with unemployment rate of 9.1%. U. S. [...]

Most banks and creditors file an action in court to recover money whenever the debtor failed to pay on time. When you are saddled with debts, there will be many creditors filing lawsuit. The purpose of the lawsuit is to recover whatever money the debtor may have in their bank accounts and to [...]

By Crispin Caday Lozano
Many people are afraid of filing bankruptcy because they have substantial money in their 401(K) that they do not want to be taken by the Trustee. They should not be fearful because based on Federal law the entire amount in a person’s 401(K) is exempt from bankruptcy whether they file [...]

If you are seven years from your retirement age, you must act now or else you will find yourself miserable during your “golden years” or retirement period. Bankruptcy is a great financial planning tool for those who are within seven years from retirement. You must prepare a financial plan for a debt free [...]