Nick Gajewski

  • What Happens to Mortgage Debts After Bankruptcy?

    Many people worry about how filing a bankruptcy case will affect their home. As long as your case is carefully planned out ahead of time, you can typically file for bankruptcy relief without affecting your mortgage or your home. Mortgages Debts After Chapter 7 Depending on the type of bankruptcy case you file, you may either eliminate your mortgage debt or leave it untouched.

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  • Modifying a Chapter 13 Bankruptcy Plan

    As you can see from our information page, a Chapter 13 bankruptcy case is a form of debt consolidation. It allows you to reorganize your debts so they are easier to repay, and in some circumstances can reduce the overall amount of debt that is actually repaid. However, one of the aspects of a Chapter 13 case that can cause people worry or hesitation is the fact that a typical C ...

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  • What Income Counts When Filing Bankruptcy?

    It is no surprise that the amount of income you have effects your ability to file a bankruptcy case. However, there are many different types of income. Wages, tips, Social Security, and VA Disability income are just a few. Be aware that just because you may not have to file income taxes on all or a part of your income, that doesn’t mean you can leave it out when filing bankruptcy.

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  • Some Lesser Known Requirements in Bankruptcy

    Bankruptcy is common enough that most people know the basic principles for filing a case. However, some of the bankruptcy requirements are less well-known, which is why we always recommend you consult with an experienced bankruptcy attorney before filing a case. Keep Orderly Records First, the Court can require you to keep orderly business records if you own your own business.

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  • Credit Bureau Changes to Take Effect July 1st

    Equifax, Experian, and TransUnion, the nation’s three largest credit reporting agencies, announced back in March of this year that beginning July 1 they will no longer include tax liens and civil judgments on credit reports. (USA Today Article) Typically, this information has appeared on credit reports under a separate section from those sections listing active debts.

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  • Your Rights and Protections After Bankruptcy

    At Bond & Botes we help people file for Bankruptcy relief, but it’s also important to us that our clients are protected after the case is finished. The whole point of going through a bankruptcy is to receive a “fresh start” for your financial situation. With that in mind, I wanted to use this blog post as an opportunity to discuss some important rights and protections that ...

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  • Time for a Financial Spring Cleaning!

    Many of us tend to forget that our personal finances need cleaning and attention just like our homes and lawns. Spring is an excellent time for a financial evaluation! Take Stock of Your Financial Situation Now that the expenses of the holiday season and tax time are behind us, I recommend everyone take stock of his or her financial situation over the past year.

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  • Tax Day is Fast Approaching

    Spring is in the air (along with all the pollen that it brings!), but that also means that Tax Day is fast approaching! Tax Day, the day your income tax returns are due, is April 15th of each year. This year, however, everyone will have 3 more days because of how the date lines up with the weekend and a federal holiday. This year April 15th falls on a Saturday.

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  • How Fast is a Bankruptcy Case?

    This topic is another of the questions I answer on an almost daily basis. Everyone wants to know how quickly a bankruptcy case takes effect and how quickly it will be done. As far as court procedures go, bankruptcy is relatively speedy. Bankruptcy Provides Quick Relief The first thing to know is that starting a bankruptcy case is very fast.

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  • Do You Qualify for Chapter 13 Debt Consolidation?

    This is one of the most common questions I’m asked. Debt consolidation (or Chapter 13 Bankruptcy as it is technically known) is one of the most common types of bankruptcy cases, and many people are familiar with how it works. We have written before about many of the details of Chapter 13 Debt Consolidation, but today I wanted to address the issue of how to qualify for a Chapter 13 case.

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  • Filing Taxes While in Bankruptcy

    As we finish the first month of the new year, tax season is starting to pick up. By now many people have gotten their W-2’s or other tax forms from 2016 and they’re ready to file for their 2016 income tax returns. If you’re in bankruptcy, or considering filing for bankruptcy, how will that affect your refund? First, it is important to know that the bankruptcy court has the aut ...

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  • Conversion to Chapter 7 Bankruptcy

    At this time of year in particular, we often see a large number of Chapter 13 clients that are considering converting to a Chapter 7 case. At the start of the New Year, people often re-evaluate where they are financially, and with many people receiving their income tax refunds this can be a great time to make a new financial start with a Chapter 7 case.

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  • Don’t Forget ‘Tis the Season

    I realize, as a bankruptcy attorney, it may seem a little strange for me to urge our readers to just forget their money problems, but that’s exactly what I’m suggesting in this Blog post. The Christmas Season is a time for family, togetherness, and happiness. Don’t let yourself be weighed down by thoughts of bills and debt collectors.

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  • Dischargeability of Recent Debt

    Now that Thanksgiving and Black Friday are behind us, the Holiday shopping season is in full swing. Many of you likely made purchases using credit cards or other credit accounts to make gift purchases. If you’re already in a tight financial situation, keep in mind that the Bankruptcy Code has provisions built in that prevent a person from discharging debts that have been recently incurred.

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  • What is Repossession and How Can You Stop it?

    Everybody knows that if you don’t make your car payment, the finance company can repossess your car. I’m often asked by clients if the finance company has the right to repossess other vehicles or things they own. In this blog I’ll lay out exactly what gives a creditor the right to repossess items and how a bankruptcy case stops them from doing so.

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  • Calculating Chapter 13 Plan Payments

    A Chapter 13 bankruptcy (also known as a Debt Consolidation) will bundle together all of a person’s debts so that the person filing makes only one payment per month to the Court. From there, the Court handles paying each of your creditors what they are supposed to receive under the bankruptcy laws.

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  • Bankruptcy Courts Won’t Get Involved in Your Mortgage, Typically

    For a large portion of people in America, a home is the most valuable asset they own. It’s only natural, therefore, that one of the main concerns of potential clients is how the Bankruptcy Court deals with mortgage debts. Bankruptcy Court Won’t Get Involved in Your Mortgage The good news is that for the vast majority of Chapter 7 and Chapter 13 cases, the Court will not get inv ...

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  • Back to School Expenses Hitting your Budget?

    Now that the new school year has started, parents everywhere are looking at their bank accounts and wondering when school got so expensive. Between new clothes for the kids, fees for class trips, and the cost of new school supplies, its normal for budgets to be stretched in the Fall. As a result, we often see an increase in the number of people considering filing for bankruptcy relief.

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  • Bankruptcy and Vehicle Insurance

    Bankruptcy and Vehicle Insurance Posted on Aug 17, 2016 By Nick Gajewski August 17, 2016 by Nick Gajewski Bankruptcy and insurance may seem to be unrelated topics at first glance, but insurance issues are common in many bankruptcy cases. Not only is the Court involved if you’re going to be receiving insurance proceeds, but failure to keep insurance on your home or vehicle c ...

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  • Preparing for a Bankruptcy Case

    Preparing for a Bankruptcy Case Posted on Jul 27, 2016 By Nick Gajewski July 27, 2016 by Nick Gajewski If you are just starting to consider filing a bankruptcy case, you’re probably wondering where to start. You’re asking yourself “What information and documents will I need to provide to my lawyer or to the court?” This blog post will lay out the basics you need to get started.

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