Alexander Hernandez, Author at Bankruptcy.Blog

Graphic showing a green checkmark with the words ‘GET OUT OF DEBT’ due to a rise in credit card debt and credit card balance. A stack of credit cards is above with text ‘1.4 Trillion Debt,’ suggesting significant amounts owed. The goal is to reduce this burden, potentially by managing interest rates effectively, with text along the bottom ‘bankruptcy.blog.

Insights & Analysis

Alexander Hernandez 5 min read

Effective Strategies for Reducing Credit Card Debt and Balances

The Federal Reserve reports record-high credit card debt, but offers strategies to reduce debt and save money.

Bankruptcy

Alexander Hernandez 9 min read

Understanding Chapter 13 Bankruptcy: Confirmation Hearing and Key Points

Chapter 13 bankruptcy involves a confirmation hearing where judges review and approve repayment plans.

Close-up of a divorce settlement document and gavel, representing the legal costs that may require a personal loan or lead to bankruptcy.

Insights & Analysis

Alexander Hernandez 5 min read

Divorce Debt: Loans vs. Bankruptcy | Prof. Hernandez

A law professor and divorce attorney breaks down the pros and cons of using a personal loan to finance your divorce case.

Gavel and block with modern cars in blurred background, symbolizing Chapter 13 cramdown, auto loan reduction, and the 910-Day Rule.

Bankruptcy

Alexander Hernandez 5 min read

The Strategic Power of Chapter 13: Navigating the Auto Debt “Cramdown”

Chapter 13 bankruptcy helps catch up on car loan payments to prevent repossession and may reduce loan balance.

Bankruptcy

Alexander Hernandez 2 min read

Bankruptcy and Foreclosure: A Step-by-Step Guide

Filing Chapter 7/13 bankruptcy can stop foreclosure with the automatic stay, but specific steps are crucial.

A professional microphone and headphones on a dark surface with the text ‘Stopping Foreclosure’ by using the automatic stay and the suggestion of bankruptcy with Chapter 7. The URL ‘Bankruptcy.Blog’ in smaller font at the bottom right corner.

Bankruptcy

Alexander Hernandez 6 min read

Stopping Foreclosure: The Critical Steps When Filing for Bankruptcy Without a Lawyer (Pro Se)

Don’t lose your home! Learn the critical difference between Chapter 7 & 13 and the steps for Pro Se filers to stop a foreclosure sale by immediately filing the Suggestion of Bankruptcy.

Kevin Spacey on the set of House of Cards during Maryland Gov. Martin O'Malley's visit in 2013. Photo credit:Maryland GovPics - Governor Tours the House of Cards Set is facing bankruptcy after foreclosure.

Insights & Analysis

Alexander Hernandez 3 min read

Kevin Spacey Foreclosure and Bankruptcy Updates

Kevin Spacey faces legal and financial struggles, including foreclosure and potential bankruptcy due to lawsuits.

Demystifying the 341 Meeting of Creditors: It's Not What You Think You've probably heard the term "341 meeting of creditors" countless times while researching online about filing for bankruptcy. Let's clear up the confusion. This isn't the dramatic courtroom showdown you see on TV. If you’re old school, it was L.A. Law. Remember Arnie Becker? In reality, what happens at the creditor’s meeting is different than your typical court hearing. First, there's no judge or jury. The bankruptcy trustee conducts the meeting, and it's usually a low-key affair. And while it’s titled the 341 Meeting of Creditors, Bigfoot sightings are more common than creditors appearing. For those of you in the Florida Everglades- it’s Skunk Ape, or my favorite, the Chupacabra for those of you in Miami. I won’t get into the Mothman of West Virginia, but you get my point. Being Prepared for the 341 Meeting of Creditors The bankruptcy trustee will ask you a few basic questions about your bankruptcy filing. Most hearings last less than five minutes. The meeting is typically held remotely, whether you dial in by phone or video conferencing with Zoom. Either way, be early to listen in on the basic questions asked to other debtors. That will also give you a feeling of what to expect and will calm your nerves. While it’s normal to be nervous, don't stress the creditor’s meeting. When the hearing is over, most of my clients ask is that it? Make sure to take your driver's license and original Social Security card. This will save you time and money, as you'll avoid a second hearing which your lawyer will charge additional fees for. If the hearing is done remotely, your lawyer will provide your driver’s license and Social Security card in advance to the bankruptcy trustee. Remember, the 341 meeting is a routine part of the process. It's not adversarial, and the trustee is there to do a job, not to cause you distress. The overwhelming majority of trustees are nice, calm, and sympathetic. Relax, breathe, and focus on getting through it. This is your next step to a fresh start as you walk down the path of financial freedom. Person in a formal black suit with arms crossed, standing against a white background. Text below reads ‘341 Meeting of Creditors emphasizing issues with the trustee and text Bankruptcy.blog’.

Bankruptcy

Alexander Hernandez 3 min read

The 341 Meeting of Creditors: It’s Not What You Think

The “341 meeting of creditors” in bankruptcy is a low-key affair conducted by a trustee.

Wooden blocks spelling ‘REVERSE MORTGAGE’ with wooden house cutouts behind them, and ‘Bankruptcy.blog’ text above, on a white background emphasizing issues with chapter 7 bankruptcy and home equity.

Insights & Analysis

Alexander Hernandez 6 min read

Understanding Reverse Mortgages and Its Impact on Bankruptcy

A reverse mortgage taps into your home’s equity, but it could affect a bankruptcy case.

Bankruptcy

Alexander Hernandez 8 min read

Understanding 341 Meeting of Creditors in Bankruptcy: What to Expect

Bankruptcy 341 meetings are informal, with no judge, jury, or adversarial atmosphere. Creditors rarely attend.