Archive for July, 2010

When I meet with clients I discuss how it is important that they disclose all of their assets, all of their debts, and be completely truthful on the information that we provide to the bankruptcy court.  Periodically after I give this admonition a client will ask “but how will the bankruptcy court know I have an asset if I don’t put it on my schedules?”  The short answer is, because you just told me.  While your attorney in the bankruptcy proceeding is your advocate before the court and is there to help you through the bankruptcy process, attorneys are governed…

A common question I get asked of my clients with significant credit card debt is whether it would be more appropriate to try and settle with the credit card companies or to even hire a debt settlement company to help them negotiate with creditors.  Often I have found that the debt settlement route leaves a lot to be desired.  If, for instance, you have $25,000 in credit card and would like to try and settle this debt, typically the creditor will settle for 40% – 60% of the total balance owed — and that is if you can pay it…