Blog Posts in November, 2010
Posted on Nov 17, 2010 By Joseph Tosti
If you're paying minimum payments on credit card debt and have nothing saved for retirement, you are my favorite candidate for bankruptcy. The most compelling reason to file bankruptcy is so you can ...
Continue reading "Best Reason To File Bankruptcy" »
Posted on Nov 12, 2010 By Joseph Tosti
The means test is one of the first things that your attorney needs to prepare in order to file a consumer bankruptcy . The results of this process will tell you whether you qualify to file a Chapter 7 ...
Continue reading "The Means Test" »
Posted on Nov 12, 2010 By Joseph Tosti
According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 ...
Continue reading "2010 Bankruptcy Filings Up 14%" »
Posted on Nov 9, 2010 By Joseph Tosti
Proprietary mortgage modifications, not HAMP mortgage modifications, lead the way according to HOPE NOW Loan Mod statistics. 120,000 modifications have been done by the mortgage companies themselves, ...
Continue reading "Mortgage Modifications Fail To Slow Foreclosure Rate" »
Posted on Nov 8, 2010 By Joseph Tosti
Below poverty level income for five of the past six years was no basis for discharging a chapter 7 debtor's student loans, where she was voluntarily underemployed, had no dependents, and lived with ...
Continue reading "Student Loans Not Discharged Due to Boyfriend’s Income and Voluntary Underemployment" »
Posted on Nov 8, 2010 By Joseph Tosti
A minimum payment in a Chapter 13 Bankruptcy will vary from district to district depending on the local rules. However, the minimum payment must cover what you must pay within the applicable ...
Continue reading "Chapter 13 Minimum Payment." »
Posted on Nov 4, 2010 By Joseph Tosti
If you're running a business, filing bankruptcy involves preparing a profit and loss statement. While this subject isn't terribly interesting or sexy, it's critically important to preparing accurate ...
Continue reading "Profit and Loss Statements for Bankruptcy" »
Posted on Nov 2, 2010 By Joseph Tosti
The new median family income numbers used for determining whether a debtor can file a Chapter 7 bankruptcy went into effect today, November 1, 2010. The numbers are provided by the U.S. Census Bureau. ...
Continue reading "New Median Family Income Numbers For Bankruptcy Effective November 1, 2010" »
Posted on Nov 1, 2010 By Joseph Tosti
As a consumer bankruptcy attorney who has spent the better part of the last 15 years counseling individuals contemplating bankruptcy, I can tell you that one of the things I see on a daily basis is ...
Continue reading "Bankruptcy Is Not Failure – It’s Financial Planning" »