New Mexico Bankruptcy LawThe United States Bankruptcy Code obligates you to make a full disclosure of your financial affairs when you file bankruptcy. You must list all of your debts, reveal detailed information about your income and expenses, and you must reveal information about your assets. In my 24 years of practice I have found that undisclosed asset [...]
I was speaking to a bankruptcy client from Taos the other day. He asked me an interesting question, “Why do you have a bankruptcy blog?” This came up in conversations about various issues in the client’s bankruptcy, and I began referring him to various blog posts I’d done here on the Santa Fe Bankruptcy Lawyer [...]
You have your “fresh start” after the bankruptcy. Bravo! The goal was to get you set up to survive and thrive with your new life. But what about the new opportunities, or enticements offered you? Are you ready, and practiced in making different, better choices than you may have made before? A client called and [...]
Bankruptcy cannot, however, cure every financial problem. Nor is it the right step for every individual. In bankruptcy, it is usually not possible to: Eliminate certain rights of “secured” creditors. A creditor is “secured” if it has taken a mortgage or other lien on property as collateral for a loan. Common examples are car loans [...]
What Can Bankruptcy Do for Me? Bankruptcy may make it possible for you to: Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts. It is designed to give you a fresh financial start. Stop foreclosure on your house or mobile home and allow you an [...]
