bankruptcy blog

Since roughly 2008, the U.S. economy has been struggling in a big way. There have been mild economic booms and crashes throughout the past 6 years, but on the whole, unemployment has been high, job availability has been low, and poverty levels have been on the rise. Fortunately, it appears things are beginning to look  … Read more

For many people eligible for bankruptcy, the associated stigma keeps them from filing – and from receiving much-needed financial relief. Although the stigma varies depending on each individual case, it’s important to weigh the pros and cons of filing. You’ll probably discover that the pros outweigh the cons. The positive outcome of starting fresh with  … Read more

Within only a few years of leaving home, most teens and young adults deal with large financial decisions, including taking out student loans, signing up for a credit card, buying a car, taking out a mortgage, and more. If you’re like most Americans, you’re familiar with navigating the difficult world of financial stress and debt,  … Read more

Bankruptcy has a stigma for being a sign of defeat and a terrible stain on a business’ or individual’s credit history. However, bankruptcy is often the wisest economic decision a company or individual can make. The following are a few reasons to consider bankruptcy: Your debts are sending you deeper into debt. If the money  … Read more

A recent news story in the Washington Post has brought to light the use of government credit cards to make purchases at Starbucks. Sometimes federal employees are issued purchase cards by the government, with which they can make “micro-purchases” totaling up to $3,000. These small purchases do not have to be disclosed to the public.  … Read more

After you have made the decision to file for a chapter 13 bankruptcy with the help of a bankruptcy lawyer, it is important to refinance your life and work to decrease your spending to pay off your debt. Chapter 13 bankruptcy requires you pay back debts in full or partially over three to five years.  … Read more

In bankruptcy, a chapter 13 filing is also called reorganization. Generally, it is an option for debtors to make a deal with creditors to repay debt in a 3-5 year timeframe. Unlike chapter 7 filings, chapter 13 bankruptcy clients will not be discharged of their debt completely, but they also will not lose assets like  … Read more

The number one thing you need to do when you start managing your own finances is to understand how to budget. It does not have to be a complicated spreadsheet that only a CPA or an attorney can figure out. It can actually be as simple as writing down all of your expenses for one  … Read more

Even though we all know it isn’t true, it’s easy to view credit as “free money.” Because you don’t see the money for the transaction immediately come out of your bank account, it’s easy to just pass the plastic over the counter and not think about it. That is, until the interest rate hits your  … Read more

Filing for chapter 7 bankruptcy requires several things, one of which is a good Texas bankruptcy attorney to guide you through the process. But, even when you have someone lined up, it’s a good idea to know which pitfalls to keep away from while you’re planning your next moves. Here are some common traps that  … Read more