Category Archives: Bankruptcy
Not Everyone Who Wants Bankruptcy Qualifies
If you are struggling with your finances and are considering filing for bankruptcy, consider this: not everyone who thinks bankruptcy can solve their financial woes will necessarily qualify for it. Chapters 7 and 13 are the two most common forms of bankruptcy that individuals seek, and both have a number of rules that can… Read More »
Will Filing for Bankruptcy Protect me from Eviction?
Your finances are a disaster, and you’ve spent more time dodging creditors than you’d like to admit. You’re so far behind on your bills that you’ve started to worry about the possibility of being evicted–and then what? The thought of being homeless scares you to death, and you’ll do whatever it takes to avoid… Read More »
Misconceptions About Bankruptcy
Bankruptcy: just the thought of it gives you the heebie-jeebies. You’re worried about getting an awful credit rating, losing your possessions, and becoming the laughingstock of the neighborhood. But instead of letting your thoughts run away with you, getting some basic information about the realities of bankruptcy may bring you a little relief. With… Read More »
Bankruptcy and Credit Card Debt
Are you buried in debt due to credit card usage? If so, you’re not alone! Americans have accrued nearly $1.3 trillion in credit card debt and are paying interest rates around 21 percent. With rates like that, making minimum payments each month barely touches the balance owed, leaving borrowers feeling overwhelmed and powerless. At… Read More »
Who’s Who in in Chapter 7 Bankruptcy Proceedings
When filing for bankruptcy, there are many questions debtors face and a slew of people who become quite familiar with your personal financial matters. Before getting too far into the process, it can be comforting to know who some of these people are and what their responsibilities will be. The debtor: That’s you, the… Read More »
What Happens to Retirement Savings in Bankruptcy?
You’ve played by the rules all your life, and yet you still manage to find yourself facing bankruptcy proceedings. It’s a lot to swallow, and one of your biggest concerns is your financial security in your golden years. Does filing for bankruptcy mean you will never get to enjoy the retirement savings you so… Read More »
What to Know About Involuntary Bankruptcy
While it’s true that many people choose to file bankruptcy as a way to deal with indebtedness, there are those who find themselves in bankruptcy proceedings through no choice of their own. This sort of involuntary bankruptcy is rare for individuals (it’s more commonly used against corporations) but is certainly worth knowing about before… Read More »
Bankruptcy and Adversary Proceedings
If you haven’t experienced enough stress simply by being squashed under untenable debt and then by filing for bankruptcy, now you learn that there is an adversary proceeding against you! It sounds alarming, and it is! It means that someone–probably a creditor or the trustee– wishes to fight the discharge of a particular debt,… Read More »
Tariffs and Bankruptcy
Small businesses are feeling the pressure that tariffs are causing, which has resulted in cuts to production and jobs, and even bankruptcies and company closures. The impacts of the tariffs on businesses who simply have no cushion to protect them has been devastating: Increases in costs of everything from raw materials to finished products,… Read More »
Reaffirmation in Bankruptcy
If the mere thought of bankruptcy brings you images of homelessness and poverty, you may have a very limited understanding of what the process entails. In fact, people are able to remain in their homes or can keep their vehicles in many situations. One tool that may bring you comfort is reaffirmation. Understanding Reaffirmation… Read More »