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As practicing lawyer with twenty years of experience in estate planning, I have frequently been asked: “Do I need a living trust?”  Quite frankly I have found that not everybody does.

Don’t deal with a lawsuit by disregarding it but rather by using it as a great incentive to take charge of your financial life. If you are behind on paying your creditors and are sued by one of them, you’re likely in pretty tough financial shape. Usually collection agencies and creditors chase you with phone calls and collection notices for months before filing a lawsuit.

What if you want to keep your home or vehicle, but might not be able to do so later? If important enough, Chapter 13 may be worth it to you.

Keep your vehicle whether you are current on it or not, and maybe reduce its monthly payments and the loan balance.

Here are 8 ways the “adjustment of debts” version of consumer bankruptcy can help you save your home.

The “automatic stay” is in effect for years, enabling the tools of Chapter 13 to work, while the “co-debtor stay” protects your co-signers.

Your secured debts are the most dangerous because the creditors can take your collateral. Chapter 7 improves your options with them.

If your income is more than the published median amount you may still be able to do a Chapter 7 “straight bankruptcy.”

Most of the time you get to keep whatever you own when you file bankruptcy. The following ten truths will give you the reassurances that you need and help you be aware of issues before they become problems.

What about your financial life could result in a not so simple bankruptcy case?