Blog Category: bankruptcy

Being in debt can be a difficult situation to navigate. If you find yourself in a situation where you are unable to pay off your debts, bankruptcy can be a viable option. Filing for bankruptcy can be a stressful and daunting experience, but it can also provide relief and help you start fresh. Here are  … Read more

Small businesses are the backbone of any economy. They drive innovation, create jobs and add value to the society. However, running a small business can be a challenge, especially when things go wrong. Economic downturns, unpredictable markets, and unexpected expenses can often put a strain on small businesses. Unfortunately, sometimes the situation gets out of  … Read more

Bankruptcy is a complex legal process that can be challenging to navigate, especially if it’s your first time dealing with it. One of the most important aspects of bankruptcy is understanding how creditors are involved in the process. Creditors are individuals or companies that you owe money to, and they have a significant impact on  … Read more

The burden of debt is an overwhelming feeling that can take a toll on the lives of individuals. The inability to pay off debts, whether through loans, credit cards, or medical bills, can lead to constant calls from creditors and legal action. Fortunately, there is a solution available in the form of bankruptcy. Bankruptcy is  … Read more

Dealing with debts can be overwhelming, and in some cases, it may seem impossible to get out of financial hardship. If you’re feeling hopeless and wondering if there’s a way out, bankruptcy might be the answer. Although filing for bankruptcy may sound scary, it can actually be a life-changing decision that can help you achieve  … 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

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

You may have heard that filing for bankruptcy will liquidate all your income and assets. While it is true in some bankrutpcy filings that the court may be able to liquidate some income and assets, each case is as unique as the individual themselves. Generally, anything that has a value of $600 or less. This  … Read more

Wage garnishment is a legal procedure that allows for a portion of your earnings to be automatically deducted to pay a debt. In some states, creditors may garnish up to 25% of your disposable income.  Disposable income is gross income minus deductions required by law, such as taxes or retirement contributions. While having a portion of your  … Read more

1. Filing the Bankruptcy Petition: The bankruptcy petition is a legal document that presents to the court that you want to file for bankruptcy. The bankruptcy petition contains information about your income, expenses, assets and debts. 2: The Meeting of Creditors: This meeting provides you the opportunity to tell the court and your creditors about  … Read more