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...]
Paying for Bankruptcy
February 10, 2021 by Leave a Comment
The Out-of-Pocket Costs | How to Pay When You're Already Struggling? When you're struggling to make ends meet, and considering bankruptcy, another expense may seem like the last thing you need. Though bankruptcy may seem like the best way to get a fresh start, there are costs to bankruptcy—filing fees, the cost of mandatory credit counseling, and … [Read more...]
Choosing between Chapter 7 and Chapter 13
February 5, 2021 by Leave a Comment
Determining the Right Bankruptcy Filing If you experiencie financial challenges and conclude that your best strategy for moving forward is through bankruptcy, there are two paths you can potentially take—Chapter 7 or Chapter 13. You may not know if or how you qualify for one filing or the other. Here's an overview. Chapter 7 Bankruptcy … [Read more...]
How Soon After Bankruptcy Can You Qualify for a Mortgage?
January 16, 2021 by Leave a Comment
The Impact of a Chapter 7 or Chapter 13 Petition on Future Creditworthiness The pandemic has made life difficult for most Americans. You may have had a good job and been saving to buy a house, but now that job is gone, and you're falling behind on your financial obligations. You might feel that your prospects for turning things around are … [Read more...]
Can Filing for Bankruptcy Help You Get Credit?
December 7, 2020 by Leave a Comment
Bankruptcy May Make It Easier to Obtain Credit There's a common misperception that filing for bankruptcy will reflect negatively on your credit and make it more difficult for you to finance anything. In fact, filing for bankruptcy often leads potential creditors to view you as a safer risk. How can that be? It seems counterintuitive. Here's … [Read more...]
Knowing When It’s Time to Contact a Bankruptcy Attorney
November 27, 2020 by Leave a Comment
Telltale Signs Bankruptcy Might Be Right for You When you're struggling to make ends meet, the uncertainty you face from day to day can make it difficult to know exactly what to do. Should you consider filing for bankruptcy protection? Can you work your way out of your financial challenges without filing? What will friends and family say? The … [Read more...]
