bankruptcy blog

Nobody enjoys having debts to the government, but sadly, a lot of people have tax debt. There are a few things you can do to prevent getting behind on your taxes if you’re having trouble paying them. Make sure your tax returns are filed promptly first. If you’re self-employed, you must also submit your expected  … Read more

Knowing a little bit about the legal actions you are going to take is beneficial when you are thinking of filing for bankruptcy. It will be less daunting to go through with everything if you have some idea of what to anticipate. The quickest and simplest type of bankruptcy is Chapter 7. The cases are  … Read more

Inability to pay back debt is not a recent concept, however. It appears that debt forgiveness programs have been around for as long as the idea of debt itself. However, there was a procedure in place for a lender to recover their losses when a borrower defaulted on their payments, which resulted in the temporary  … Read more

Many Americans are terrified about how to save their savings and families from what may be financially challenging times as we anticipate that the country will enter a recession in the upcoming weeks. The plan is significantly more intricate for the country. Since each recession is unique and brought on by many factors, there is  … Read more

There is no one single cause to the current struggles of inflation; rather, many factors contribute to the current situation. Many Americans may experience the day to day consequences of inflation, but few understand  what it is and how it comes to be. What is inflation? When the cost of goods and services rises over  … Read more

Perhaps the worst part of medical debt is the ability to come at any time due to an unexpected illness or accident. Medical debt doesn’t even choose what to prefer. According to the Centers for Disease Control and Prevention, one in four American adults has at least one chronic condition. Chronic diseases require constant and  … Read more

Household income is one of the key factors used to evaluate whether you qualify for chapter 7 or 13. The means test allows debtors to earn up to a particular amount of income, which is based on the previous six months’ earnings, depending on household size. The income thresholds for filing a chapter 7 bankruptcy  … Read more

There has been a lot of attention and buzz about the worldwide supply constraints, which have made finding a reasonably priced automobile extremely difficult. Kelley Blue Book stated in January 2022 that the average price of a used automobile in 2021 was over $28,000, up 28 percent from a year ago and up 42 percent  … Read more

In bankruptcy, a debt discharge is the legal release of a person from most of their debts. A bankruptcy discharge is given to a person who has filed for bankruptcy and been determined to be qualified. A bankruptcy discharge discharges a person from all unsecured debts. Secured obligations, such as mortgages and vehicle loans, are  … Read more

The bankruptcy procedure might be scary to those who are unfamiliar with it. The bankruptcy process, which is commonly misunderstood as a result of poor financial management and irresponsibility, is actually intended to assist residents. The provisions of bankruptcy were created to help people who had been through extreme financial difficulty get back on their  … Read more