Image by Alan Cleaver from Pixabay The way that 2020 has unfolded is a far cry from what most of us anticipated when it began. Not only have there been health issues to consider day in and day out, but also scores of businesses and individuals have taken a devastating financial hit. More and more people have either filed for…Read More
Image by mohamed Hassan from Pixabay Many people erroneously believe that bankruptcy serves as a financial Scarlet Letter that will define you for the rest of your life. That’s not the case. As a follow up to our blog post “6 Most Frequently Asked Credit Report Questions and Answers”, we are going to take a closer look at the effects…Read More
If you’re considering bankruptcy, hiring an attorney might be the furthest thing from your mind. Your goal is to improve your financial situation, not make it worse by owing one more person. The alternative to filing with an attorney, however, is filing pro se (i.e. representing yourself). While this is technically permitted, the U.S. Bankruptcy Court strongly discourages it, citing…Read More
Image by CopyrightFreePictures from Pixabay Right now, it’s all about survival and sustaining if you’re a business owner. Unemployment rates remain high, and the economy continues to feel the sting of coronavirus. In these uncertain times--a term almost as ubiquitous as “pandemic”--you may be feeling pretty unsettled, which can make you vulnerable to making detrimental business decisions. We’re here to…Read More
Mortgages are a form of secured debt. In other words, your lender has the contractual right to take your home through foreclosure without having to file a lawsuit and obtain a judgment against you (which is what unsecured creditors must do). Negotiating with mortgage lenders, therefore, is difficult. Foreclosure is a costly procedure, but lenders always have this option if…Read More
Many people experiencing financial hardship have trouble seeing a light at the end of the tunnel. Is it possible to simply wait it out? Will agencies and creditors eventually stop making debt collection calls? To help you understand this situation, our team at Bach Law Offices, Inc. has compiled the following FAQs about time-barred debt. If you still have questions…Read More
Image by Clker-Free-Vector-Images from Pixabay There’s a crude adage about what happens when you assume something--I won’t repeat it. However, I’m going to make an assumption that at one point you’ve signed up for some sort of financing plan. Any time you borrow money, you accrue credit, and most of the data involved is captured in a credit report. A…Read More
If you’re considering bankruptcy, one factor is particularly critical in determining which type of bankruptcy—if any—will solve your financial crisis. This factor is whether the debt you owe is secured or unsecured. Secured debt is anything that is backed by collateral, such as: Mortgages Automobile loans Tax debt (if the IRS has attached a lien to your property) Unsecured debt…Read More
Image by mohamed Hassan from Pixabay The term bankruptcy is filled with negative connotations. To set the record straight, bankruptcy does not mean that you or your business are finished. Is it serious stuff? Yes, but it’s not necessarily financial ruin. Bankruptcy isn’t as bad as it sounds because it gives an individual the opportunity to fix financial errors and…Read More
The first several years of owning a business are tumultuous. According to data from the Small Business Administration, roughly a third of businesses fail in the first two years, and only half of businesses survive the first five. If your company is fighting to stay afloat, deciding on a course of action can be challenging. Do you keep taking on…Read More
