The recession has caused many people to get caught in a bad cycle of robbing Peter to pay Paul. As this cycle continues, it will inevitability reach a point of no return, the point when Peter does not have any more money to rob and you now owe both Peter and Paul. Before we can…Read more
Many potential clients come into my office with high payments on a home that was recently purchased but one which they really can not afford to keep. The almost universal response to the home ownership question is “I cannot give up my home!!”. But, even under the best of cases, the potential client can not…Read more
The Decision of whether to file for bankruptcy protection may not be an easy one. Typically one of the main worries is that your credit rating will be so damaged that obtaining a loan in the future will be near impossible. However, it may be surprising but that in may cases, the damage done to…Read more
Candice Choi, Associated Press Sunday, November 23, 2008 (11-23) 04:00 PST New York — If mounting credit card bills are threatening to pull you under, you may be considering bankruptcy as a way to hit the restart button. The American Bankruptcy Institute expects worsening economic conditions to drive up the number of consumer filings this…Read more
Welcome to the Toomey Law Bankruptcy Blog.