If you’re facing financial struggles and considering bankruptcy, you aren’t alone. Bankruptcy filings have increased a great deal since the economic turmoil of 2020 began. Experts expect this trend to continue for the foreseeable future. The debt load is a combination of many factors. Some people have huge amounts of medical debt, in some cases […]
Everyone’s financial situation is different. So how do you know when to file for bankruptcy? The best thing you can do is speak to a bankruptcy attorney. Only a bankruptcy attorney can evaluate the big picture and help you determine whether you should file for Chapter 7 or Chapter 13 bankruptcy. That said, some common […]
If you’re a business owner and you’ve decided to close, do you know the tax responsibilities of shutting down a business? There’s a lot to consider if you’ve decided to shut down your business. Doing so is a major decision and shouldn’t be taken lightly. However, it’s the best option for many business owners. Why […]
What does it mean to file bankruptcy “pro se”? Pro se, which is short for the Latin phrase propria persona means “for one’s own self” or “on one’s own behalf.” A pro se case means an individual is without attorney representation. The US legal system allows anyone to represent themselves. However, just because it’s an […]
Someone filing for bankruptcy must be completely transparent about their financial situation. Failing to do so and hiding assets in bankruptcy leads to serious legal issues. It also destroys your chance of debt discharge and overall success when you file for bankruptcy. As uncomfortable and embarrassing as it might be, everyone filing for bankruptcy must […]
In most cases, your 401k is protected from bankruptcy. However, it’s important to work with an experienced attorney when filing because every state has different laws and exemptions. Bankruptcy protection doesn’t apply to all retirement savings. Bankruptcy laws are complicated and 401k savings and other assets. Working with an expert who understands the laws affecting […]
One of the biggest concerns people have is how to protect assets from bankruptcy when filing. Bankruptcy offers several benefits to those who opt to file, but these benefits are in exchange for turning control of assets over to the bankruptcy court and the trustee appointed to the case. The trustee has the power to […]
How important is it to fix mistakes on my credit report? Past due accounts and other financial mistakes that appear on your credit report negatively impact your score. The lower your score the less likely companies are to extend you credit and grant access to leases, loans, and other financial tools. It’s important to do […]
Does bankruptcy eliminate all debt or will friends and family who lent you money be out of luck if you file? Here’s what you need to know. If you’re considering bankruptcy or you’ve recently filed, it’s tempting to repay any money owed to relatives or friends first. This way you won’t need to worry about […]
Are you concerned about getting a mortgage or taking out another type of loan after filing for bankruptcy? Here’s what you need to know. Filing for bankruptcy resolves a variety of financial issues. Unfortunately, it isn’t all good news, though. Bankruptcy remains on your credit report for many years after you file. It negatively impacts […]
