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How to Deal with a Second Mortgage or HELOC – Try Avoiding it in a Chapter 13 Bankruptcy

September 14, 2012

With home values precipitously dropping over the past few years, many people find that their houses are underwater – owing more on the house than the house is actually worth.  Add to this the reality that many people are straddled with more than one mortgage with the addition of a second mortgage or a home-equity line of…

Can Student Loans Go Away in Bankruptcy?

September 14, 2012

Student loans are not dischargeable in bankruptcy unless a debtor can show “undue hardship.” To determine undue hardship, Courts use what is known as the Brunner Test.   To show undue hardship under the Brunner Test:  (1)  the debtor cannot maintain, based on current income and expenses, a “minimal” standard of living for herself and her dependents if…

Will I Lose My House If I File Bankruptcy?

September 13, 2012

The Short Answer: Most Likely Not. If you file bankruptcy, you are allowed to use “exemptions” or laws that protect property.  For your home, you are allowed to take a “homestead exemption.”  The homestead exemption allows an individual to protect $40,000 in equity in a house, or a married couple filing together to protect $50,000. For example, if…


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I am a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.

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