Arlington Bankruptcy Blog

Understanding the Homestead Exemption

One of the biggest concerns individuals considering bankruptcy have is whether they will lose their homes after filing. No one wants to lose his or her home but facing thousands in debt can make that fear a very real possibility. It is for this reason that the homestead exemption exists. It is important that a debtor understands what is involved with the exemption before using it. What Are ...

What Happens When a Creditor Fights the Automatic Stay?

When an individual gets to the point where he or she feels the need to file bankruptcy, odds are that person needs some relief from creditor harassment and constant bill-collector communication. This is where the automatic stay comes in. It is often one of the biggest benefits to pursuing bankruptcy, getting that immediate halt to debt collection actions. Creditors do have the right to fight the ...

Should You Stop Paying on Bills Before Filing for Bankruptcy?

One of the most commonly-asked questions debtors have before filing for bankruptcy is whether they should stop paying on bills or obligations before filing. It makes sense. If someone is barely able to pay bills already and anticipates having these debts discharged, it can seem like a large waste of money to continue paying bills that will be discharged anyway. The decision to stop paying on bills ...

Do You Need to Inform All Creditors of Your Intent to File Bankruptcy?

One commonly-asked question when considering filing for Chapter 7 or Chapter 13 bankruptcy is whether potential filers should inform their respective creditors of their intent to file for bankruptcy? It can be a hard decision to make when it comes to deciding what is acceptable to disclose prior to filing for bankruptcy. Working with the Creditor or Lender The short answer is: it depends. It ...