Is bankruptcy right for you?
Trying to manage debts on a month-to-month basis can be tough. Sometimes it is so tough that you might need to look for other options for dealing with your debts. People who have a lot of debt often consider filing for bankruptcy as a way to get out from under their mountain of debt. But…
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How Bankruptcy Can Help You Take Charge of Credit Card Debts
If you are behind in your credit card debts and are struggling to pay your monthly payments, you may be considering filing for bankruptcy. Bankruptcy can help in these situations, but it often makes sense to file before you reach your breaking point. You do not need to watch your credit rating go down the tubes while you…
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Can I still rent?
Some people are concerned that if they file bankruptcy they may not be able to rent a house in the near future. Or it may affect the rental property they are currently living in. This is a common question we hear as the majority of people who file personal bankruptcy with our office are renters….
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Will I still have to pay my student loan debts if I go bankrupt?
If your student loan is more than seven years old from the date you ceased to be a full- or part-time student, it is considered a dischargeable debt, meaning that you would not be required to pay the balance remaining should you file bankruptcy. There has been some confusion with this in that past as…
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Aftermath of Filing Bankruptcy
Filing for bankruptcy should never be a decsion that is taken lightly. While debts can be reduced or eliminated, allowing for a person to make a clean financial start, it can also be a time-consuming process that involves a hit to the credit report. If a person decides to file for bankruptcy, their first step should…
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Senior Citizens are Increasingly at Risk for Bankruptcy
In the last few years, it seems that in my practice, the number of senior citizens filing bankruptcy has increased dramatically. Senior citizens are one of the more vulnerable populations in our country in terms of health and earnings potential. What is driving this incredible rise in senior citizen bankruptcy, and how can you tell…
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Four Bankruptcy Myths Dispelled
Many people have misconceptions when it comes to bankruptcy. People may fear losing cherished property, being regarded with shame in the eyes of their family or even going to jail. Usually these fears are based on myths — not reality. We’re here today to address the five most commonly held false beliefs about bankruptcy: Myth #1:…
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Bankruptcy and Divorce: Two Things Never Bargained For
You may have heard that the number one thing that causes tension in a marriage is money. Financial tension can put serious strain on a marriage and can often lead to divorce. It should therefore come as no surprise that when many marriages fail, the spouses wind up with financial difficulties, as well. When wanting to…
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Why do people prolong filing for bankruptcy?
You could suffer under a mountain of debt for a decade, two decades or an entire lifetime, all while barely scraping by to make your financial ends meet. Or, you could file bankruptcy and get your debt problems in order relatively quickly. If you are struggling with any of the scenarios I mentioned in my previous post,…
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When should I file bankruptcy?
There are several reasons why you might want to file for bankruptcy immediately. The problem is, many people in these situations still continue to wait a very long time before reaching out to a licensed insolvency trustee. This kind of a delay will only make your debt situation worse. If you’re currently experiencing one of the…
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