Category Archives: Bankruptcy
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 »
Who are Creditors in Bankruptcy?
Anyone filing for bankruptcy in this country will discover that there are many, many forms that need to be filled out. It’s essential that every document be accurate and complete in order for the procedure to go smoothly and efficiently. One important form requires you to identify secured creditors. Who and what is encompassed… Read More »
Is it Time to Talk to a Bankruptcy Attorney?
If your financial situation has become unmanageable, it may be time to look at bankruptcy as an option. But where to begin? The whole idea may feel completely overwhelming, and you don’t have anyone to discuss the possibilities. Finding a straight-shooting, experienced bankruptcy attorney to work with is the first step. Here are some… Read More »
Know Your Rights in Bankruptcy
If you’ve decided that filing for personal bankruptcy is the best way to get your debt issues under control, you’ve already survived the stress of angry creditors banging down your door. In many ways filing for bankruptcy will feel like taking a breath of fresh air, even though it can be complicated and depressing… Read More »