Pending Legal Action and Bankruptcy

Pending Legal Action and Bankruptcy

If you have gotten behind in your payments and your debt is getting larger with late fees and penalties, you may want to consider filing bankruptcy. If you are starting to get warning letters of pending legal action regarding your debt, talking to a bankruptcy attorney is a significant step to protect your assets.  Notice  … Read more

  Filed under: Filing bankruptcy


Unemployment and Bankruptcy

Unemployment and Bankruptcy

One of the most common reasons for filing bankruptcy is unemployment. When the primary bill payer in the home loses their job or has a reduction in hours, it can be devastating to the household finances. Layoffs are listed as a significant factor for Americans filing bankruptcy.  Savings Traditional advice is to have three to  … Read more

  Filed under: bankruptcy


Bankruptcy and Foreclosure

Bankruptcy and Foreclosure

If you are more than two months behind in your mortgage payments, you may be worrying that the foreclosure process will begin soon. Your lender has the right to take back the collateral if you stop making payments.  On your first missed payment, you may receive a friendly letter reminding you to pay. On your  … Read more

  Filed under: Foreclosure


Your Credit Rating and Bankruptcy

Your Credit Rating and Bankruptcy

When people think about bankruptcy, one of the first things they worry about is the effect it will have on their credit report. That is not an unreasonable concern since bankruptcy can stay on your report for up to ten years. Bankruptcy is not the only thing that can harm your credit score, foreclosures, court judgments,  … Read more

  Filed under: Credit


Reaffirmation and Bankruptcy

Reaffirmation and Bankruptcy

During the bankruptcy process, your creditors may ask you to make a reaffirmation agreement. A reaffirmation agreement states that you will be legally obligated on some or all of a debt that you could otherwise eliminate in bankruptcy. By signing a reaffirmation agreement, you are giving back the creditor the right to collect a debt  … Read more

  Filed under: bankruptcy


Who Can File Bankruptcy

Who Can File Bankruptcy

Anyone that lives or has a property in the United States has the right to file bankruptcy. Some things that may prevent you from getting a discharge are: If you abuse the bankruptcy system or conduct fraud to get out of paying your debt If you have substantial income that you could pay your creditors  … Read more

  Filed under: Filing bankruptcy


Utilities and Bankruptcy

Utilities and Bankruptcy

Filing bankruptcy can stop your utilities from being terminated by a process called the automatic stay. When you file your bankruptcy papers with the court, the automatic stay goes into effect. The court will inform your creditors of the bankruptcy, and they are prohibited by law from taking any legal action against you. Your creditors  … Read more

  Filed under: Debt