Author Archives: David Lloyd

The goal of filing bankruptcy is to eliminate your debts, and most debts are discharged in bankruptcy. The most well-known debts that are NOT discharged are debts related to divorce, most student loans, and some tax debts. But an ordinary debt based on a credit card or other loan, even if a creditor has gone…

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Family members like to help each other. That's a good thing; families should stick together. But helping a family member by providing financial assistance can backfire if the family member faces bankruptcy. Parents often proudly present their young-adult children with a new car to help them on their way. But, if the new car owner…

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Families have a number of ways to share property with, or gift property to, family members. These arrangements are often useful and helpful; they are common and legitimate, but they can lead to problems in bankruptcy. Parents will often place one or more of their adult children on a bank account as a joint tenant.…

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Is Your Wedding Ring Protected When Filing For Bankruptcy? For many people, the most valuable asset they have, after a house and a car, is a wedding or engagement ring (often together in a wedding set). When filing bankruptcy, a person will want to know that his or her wedding ring is protected. In a…

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Many of my clients say they don't want to "file bankruptcy on" car loans or home mortgages, which means that they want to keep the car or the house, and keep making payments on the car loan or mortgage. You can do that; but it's a good idea to understand how car loans and mortgages…

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