Simple Steps You Can Take to Minimize the Risk of Financial Problems U.S. bankruptcy law was enacted to provide individuals with an opportunity for a fresh start. While there should be no stigma in taking advantage of those laws, the bankruptcy process can be arduous and time-consuming, something you'd like to avoid, if at all possible. Here are … [Read more...]
Using Bankruptcy to Discharge or Reorganize Medical Expenses
July 8, 2021 by Leave a Comment
Take the Right Steps to Maximize Your Benefit When you're hurt in an accident or suffer a debilitating illness, your first priority needs to be your health. But what are your options if you require care that's not covered by your health insurance? Can you use a bankruptcy filing to permanently rid yourself of exorbitant medical costs or reorganize … [Read more...]
A Step-by-Step Approach to Chapter 7 Bankruptcy
June 14, 2021 by Leave a Comment
Successfully Working Your Way to Discharge of Debts When you're looking to get a fresh financial start through a bankruptcy filing, the permanent discharge of debt through Chapter 7 often holds more attraction than repaying your creditors over a three-to-five-year period, as required under Chapter 13. But Chapter 7 can be tricky—you need to be … [Read more...]
When Chapter 13 May Be a Better Option Than Chapter 7
June 9, 2021 by Leave a Comment
Why Reorganization Can Be Preferable to Liquidation When you're struggling to meet your financial obligations, the thought of having your debts permanently discharged can be appealing. That's what a Chapter 7 bankruptcy offers—the elimination of certain debts in exchange for the transfer of some of your assets to the bankruptcy court, to be used … [Read more...]
Bankruptcy and Your Home
May 11, 2021 by Leave a Comment
Can You Keep Your Home When You File? Is It Easier with Chapter 7 or Chapter 13? If you're like many Americans, struggling financially because of the coronavirus pandemic, you may be considering bankruptcy as a way to get a fresh financial start. Your biggest concern, though, could be whether you'll be able to keep your house if you file for … [Read more...]
Bankruptcy for Married Couples
May 7, 2021 by Leave a Comment
Can You File Without Your Spouse? Should You? It's not uncommon for spouses to each have their own separate finances, with individual bank accounts and debts. Accordingly, it's also not uncommon for one spouse to experience financial difficulties while the other does not. Bankruptcy can be the best solution to help a struggling spouse get a fresh … [Read more...]
Congress Considers Reforming Bankruptcy Laws
April 13, 2021 by Leave a Comment
Sponsors Say New Bill Will Simplify the Process In December 2020, Democrats in both the Senate and the House introduced a bill to radically reform the nation’s bankruptcy laws. The bill’s sponsors say the proposed legislation seeks to reduce costs and stumbling blocks that prevent consumers from reaping the intended benefits offiling for … [Read more...]
Bankruptcy Relief Under CARES Act
April 7, 2021 by Leave a Comment
Bankruptcy Court May Grant Discharge of Mortgage Debt After Multiple Missed Payments As a general rule, consumers can discharge debt through a Chapter 7 bankruptcy filing or reorganize their debts under Chapter 13. Under the CARES Act, enacted into law on December 21, 2020, the Bankruptcy Court now has the discretion to discharge certain mortgage … [Read more...]
Knowing When It’s Time to Consider Filing for Bankruptcy
March 16, 2021 by Leave a Comment
Signs That You May Need a Fresh Start If you’re like most people, you always see the silver lining. When you’re struggling to make ends meet, there’s always hope around the corner—a new job, a raise or promotion, something that will get you back to square one. That’s a great attitude to have, but sometimes it’s wishful thinking that, … [Read more...]
