Blog Category: bankruptcy

Debunking Bankruptcy Myths: Part 1 is the beginning of a series offering facts about bankruptcy. People often forget that bankruptcy is a legal process, which means that it is complex and full of intricate details. For this reason, most  people know very little about the process or how the laws work in their state. A  … Read more

Whenever an individual decides to take the route of bankruptcy there is a very emotional response to that decision. It can be a very frightening proposition from the outset with a ton of uncertainty. When doing your homework in an effort to determine if that is the right choice for you personally, a factor you  … Read more

They say that everybody has an opinion, and it is usually a negative one, especially when it comes to bankruptcy. To many, going through bankruptcy is deemed as an avoidable failure. You obviously spend too much or fail to plan properly or just live beyond your means. Why else would you have to declare bankruptcy  … Read more

They say everything is bigger in Texas and that may well be true but when it comes to bankruptcies are they different in Texas you may wonder? The answer is…somewhat! While many do not realize that all bankruptcies fall under Federal statutes, meaning that the laws governing a bankruptcy are established at the Federal level  … Read more

There are many among us today who firmly believe that bankruptcy is the absolute worst thing that can happen to an individual and that they will never recover financially, and that it is the end of life as they know it. Others believe that if you do declare bankruptcy your chances of any future success  … Read more

When an individual applies for and receives Chapter 13 bankruptcy protection they essentially promising to make repayment to creditors over a period of time decided on by the court and at a level of repayment that both manageable to the debtor and sufficient enough to ensure that creditors recoup their money. This plan is managed  … Read more

There are some individuals who have reached their senior years that still have substantial debt. Now they are retired they do not have the funds coming in to pay down these debts and this has left them in a serious financial situation. The one thing they do have in their favor is that their home  … Read more

A Chapter 13 bankruptcy is a pre-approved repayment plan administered by a qualified bankruptcy trustee after a court has determined that an individual qualifies for this type of protection. The repayment plan is designed to allow creditors to recoup their money from a debtor over a pre-determined period of time, usually 3 to 5 years.  … Read more

Most often when individuals start to run into serious financial situations they become heavily concerned about the assets they have and the possibility of losing them. The two major concerns are usually the home and the vehicle. Quite often when there just isn’t enough money to go around then individuals will start to renege on  … Read more

Statistics show that cancer has a financial impact on many individuals that are stricken with this disease and it is most disheartening. It has been shown that those roughly one third of cancer survivors that are still within the working age have had to go into debt. It has also been shown by a recent  … Read more