KWW Blog

November 20, 2018

What’s the Difference?

There are differences between a Chapter 7 bankruptcy (“liquidation” or “straight bankruptcy”) and a Chapter 13 bankruptcy (the “wage earner’s bankruptcy”).  While a Chapter 7 bankruptcy […]
November 20, 2018

Withholding Judgment

Sometimes debtors are described as “judgment proof.”  This means that creditors will have difficulty collecting debt against them because their property is legally exempt or they […]
November 20, 2018

Bankruptcy Can Eliminate Tax Debts!

Most bankruptcy filers will continue to owe tax debts at the end of a Chapter 7 bankruptcy.  However, it is possible to discharge debts for State and […]
November 20, 2018

Consider the Alternatives

If a debtor does not qualify for a Chapter 7 filing, there are financial options other than Chapter 13 bankruptcy, but they have their own downsides […]
November 20, 2018

Ways and Means

In order to qualify for Chapter 7 bankruptcy, which discharges most of a debtor’s unsecured debt (personal loans, credit cards, etc.), the debtor must pass a […]
November 20, 2018

The Costs of Bankruptcy

It may seem somewhat ironic to anyone considering filing for bankruptcy that he or she is expected to pay exorbitant fees to file.  Fortunately, filing costs […]
November 20, 2018

Going Public Or Keeping Private

Even thought it may make perfect financial sense for them to file for bankruptcy, some people avoid filing because they feel embarrassed or ashamed.  This is […]
November 20, 2018

More Than Cosigners Bargained For

Loan cosigners should know that if the primary borrower does not pay the debt and files for bankruptcy, the cosigner will be responsible for the debt.  […]
November 20, 2018

Are You Responsible For Business Debt?

Any consideration that a business owner gives to filing for bankruptcy hinges on whether he or she is personally liable for the debt incurred by his […]
November 20, 2018

Starting Over

Those who consider their debt obligations to be insurmountable might want to contemplate filing for bankruptcy as a means of starting over.  Some people think that […]
November 20, 2018

Foreclosing Thoughts

When homeowners get behind on their mortgage payments, their lenders might begin foreclosing on their homes.  While such measures as loan modification, short sale, or a […]
November 19, 2018

Unable to Make Ends Meet?

According to a recent survey, nearly two-thirds (63 percent) of Americans said they did not have sufficient savings to pay for an emergency costing as little […]
November 19, 2018

Can Bankruptcy Prevent Foreclosure?

Homeowners faced with foreclosure should consult with an attorney about filing for Chapter 13 bankruptcy to save their homes.  Once the filing is made, the Bankruptcy […]
November 19, 2018

Divorce and Bankruptcy

Individuals considering bankruptcy (as well as creditors) should know what obligations bankruptcy does not affect.  For instance, obligations defined as “domestic support obligations” are not dischargeable.  Such […]
November 16, 2018

Parents’ Responsibility

Many parents cosign loans for young adult children who have no credit histories that would enable them to qualify for the loans on their own.  The […]
November 16, 2018

Saving Your Home

While a Chapter 13 bankruptcy may help those facing foreclosure to come up with a payment plan that helps them keep their homes, Chapter 7 bankruptcy […]
November 16, 2018

Down the Home Stretch

If you are behind on your mortgage payments and file for Chapter 7 bankruptcy, the mortgage lender will almost certainly ask the bankruptcy court to allow […]
November 16, 2018

Billed for Parents’ Care Costs?

Many states have “filial responsibility” laws, which obligate adult children to take responsibility for their parents.  These laws date back to the 16th-century English “Poor Laws,” […]
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