Bankruptcy
New Mexicans may find relief from heavy student loan debt
Borrowing student loans in order to attend classes can often increase a student’s earning potential. Unfortunately, if the expected income does not materialize, student loan payments can become a burden. It can also happen that after leaving college, a New Mexican’s student-loan payments turn out to be higher than expected. Student-loan payments may also become…
Read MoreCan I file for bankruptcy without an attorney? Should I?
The United States Courts website answers the blog headline question above by stating that, yes, individuals can file for bankruptcy without enlisting help from proven legal counsel (called a pro se filing). And in the very next sentence, this official site of the U.S. government flatly advises against doing so, for a number of compelling…
Read MoreTo thwart debt-relief scams, contact a proven bankruptcy attorney
It is likely that some — perhaps many — of our readers across New Mexico have been on the receiving end of scam-oriented pitches promising to help them with financial challenges relating to credit card debt, student loans, medical outlays, mortgage exactions and other matters. It is a sad and often confirmed reality that fraudulent…
Read MoreWhat do I need to Know before I File for Bankruptcy?
Under the bankruptcy laws, it is acknowledged that, at some time prior to filing for bankruptcy, you formed the intent to file for bankruptcy. Therefore, once you have made the decision to file bankruptcy, continuing to use credit is considered an abuse of your creditors. The 90-Day Rule Under the Bankruptcy Code, as a general…
Read More3 Things To Know About Your Bank Account When Filing Bankruptcy
Under the Bankruptcy Code, you have certain rights and protection as a debtor in bankruptcy. Although limited, your creditors also have certain rights and protections. Your bank is a creditor and banks, credit unions and other financial institutions may take certain actions that could be adverse to your interests, both BEFORE and AFTER you file…
Read MoreMore Answers to Common Bankruptcy Questions
Courtesy of the National Consumer Law Center and the State Bar of New Mexico Do I Still Owe Secured Debts (Mortgages, Car Loans) After Bankruptcy? Yes and No. The term “secured debt” applies when you give the lender a mortgage, deed of trust or lien on property as collateral for a loan. The discharge applies…
Read MoreAnswers To Common Bankruptcy Questions
Answers to Common Bankruptcy Questions Courtesy of the National Consumer Law Center and the State Bar of New Mexico A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. What is a bankruptcy discharge? One of the reasons people file for…
Read More5 Common Misconceptions About Business Bankruptcy
5 Common Misconceptions about Filing for Business Bankruptcy If you are reading this, more than likely you are a business owner, your debt is piling up and you may be asking yourself: How did this happen? Am I ever going to find my way out? Is saving my business possible? What are my options? This…
Read MoreIs Bankruptcy the Right Option For Me?
Bankruptcy is a choice that may help, if you are facing serious financial problems. Depending on the circumstances, you may be able to cancel your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help you with some financial problems, but does not guarantee you will avoid financial problems in the future. …
Read More4 Alternatives to Filing for Chapter 7 Bankruptcy
If you are reading this, more than likely you have found yourself in an unsustainable debt situation, and you may be asking yourself: How did I get here? How am I ever going to find my way out? What are my options? Or, am I just doomed to struggle to get my head above water?…
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