bankruptcy blog

After a long year and frigid winter, taking a vacation is on the top of everyone’s wish list. However, they can be very expensive. Without proper planning, a vacation can upset the careful balance of your household’s budget and set you back during what is a delicate time for many. Here are just a few  … Read more

Many Americans are currently dealing with past due rent payments that they worry could result in their eviction. Even worse is the moratorium preventing landlords from acting on past due rent during the pandemic is soon to end; leaving many people worried about their home. Many are even asking, is it possible to file for  … Read more

Tax debts can cause serious consequences if not resolved properly. Unpaid taxes can quickly lead to other hassles, such as property liens and wage garnishment. While filing for bankruptcy, can halt garnishment and lien orders; not all tax debts can be resolved in bankruptcy. When you file for bankruptcy for unpaid taxes, you need to  … Read more

The means test determines whether a debtor is eligible to file a Chapter 7 bankruptcy or a Chapter 13. If the debtor is not eligible for a Chapter 7 the means test will calculate the disposable income available to repay creditors in a Chapter 13 bankruptcy. The means test consists of determining the debtor‘s average  … Read more

One of the biggest benefits of filing bankruptcy is the automatic stay that goes into effect as soon as the case is filed. This  means that those you owe a debt to, your creditors,  are not allowed to keep asking you for money. However,  there are some expenses to pay. There are two types of  … Read more

Over the last ten years, healthcare reforms have targeted lowering the out of pocket costs of healthcare. Research shows that medical debts and expensive medical bills are one of the leading causes of bankruptcy filings in the United States. In fact,  over 60 percent of personal filings come as a result of unmanageable medical bills.  … Read more

A Chapter 13 bankruptcy is a form of debt reorganization. It allows you to restructure your debts and keep your property. Chapter 13 can be a good option if you have the money to stay current on your payments but need help with a large amount of debt.  Chapter 13 bankruptcy can help you: Get  … Read more

Foreclosure is a legal process where mortgage lenders can take a home from a homeowner that has defaulted on their loan. Typically, the foreclosure process can last from one to seven months, depending on the state you live in. However, there are situations in which a mortgage lender may begin the foreclosure process after the first  … Read more

There is a myth that filing for bankruptcy damages your credit. Many people even assume that a bankruptcy prevents you from getting credit again in the future.  In fact, many people miss out on the freedom from debt and opportunity to rebuild strong credit through bankruptcy due to these false ideas. However, the good news is  … Read more

One of the reasons people fail to secure proper debt relief solutions is due to fear of losing their property or assets. Much of this fear stems from myths about bankruptcy and a lack of understanding how the bankruptcy process works. Unfortunately, this often leads people to sit by and not take action; ultimately putting  … Read more