Many seniors have to live off a limited income while still dealing with the rising costs of healthcare and home care. As a result, more and more seniors are finding themselves dealing with financial hardship and increased debt during their retirement years. All too often, seniors who rely on small social security payments or survivors’ benefits end up living beyond…Read More
At Bach Law Offices, Inc., our experienced lawyers have come to learn that most bankruptcies are avoidable and are often caused by people living beyond their means. This is why it is crucial to take the necessary steps that will help you avoid making financial mistakes that might force you to file for bankruptcy. Below, we give you four tips…Read More
Whether or not you can keep your car in a bankruptcy really depends on your specific situation. Since it is considered an assets, it must be listed in the schedule of asset, along with any other property or assets you might own. If you owe money on the vehicle, then you will also have to list it in your schedule…Read More
Filing for bankruptcy is stressful and one of the biggest concerns people often have is whether or not they will lose their homes. Generally, the equity you have in your home will determine if you can keep it. If the equity in your home is completely exempt, you will likely be able to keep it. If you do not know…Read More
Chapter 11 of the United States Bankruptcy Code is a debt relief option specifically available to corporations, partnerships, and limited liability companies. It’s commonly referred to as the “reorganization bankruptcy” option because it allows businesses to restructure their debts, obligations, and assets. In rare cases, individual debtors can also file for Chapter 11 so long as they don’t qualify for…Read More
In the last 10 years, there have been countless studies and news reports detailing how medical bills have become the #1 reason Americans are filing for bankruptcy. Each year, thousands of people with health insurance leave hospitals fearing poverty and concerned about their overall financial situation, and it shouldn’t be this way. One bad fall or accident shouldn’t dictate the…Read More
Adversary Proceeding An “adversary proceeding” (AP) is a civil lawsuit that is filed in relation to a bankruptcy case. A debtor, creditor, or bankruptcy trustee can file an adversarial proceeding to address certain legal issues that can’t be directly resolved by the bankruptcy court. It costs about $350 to file an adversary proceeding. These proceedings have their own case numbers…Read More
An automatic stay is an injunction that halts any creditor action once a debtor formally files for bankruptcy. This means that a creditor is legally prohibited from directly contacting, pressuring, and harassing a debtor for payments. The purpose of an automatic stay is to allow the bankruptcy court time to thoroughly review the debtor’s estate. During this time, any creditors…Read More
Many people have mixed emotions when it comes to paying homeowners’ association (HOA) or condominium association fees. For some, it’s a costly hostage situation managed by their nosy neighbors; for others, it’s a necessary monthly fee that keeps the house community – as a whole – safe and in excellent condition. If you live in a home, condominium, or townhouse…Read More
A qualified attorney has the skills and resources to temper the outcome of your bankruptcy case into the start of a stable, debt-free chapter of your life. Of course, it’s not unusual for former debtors to stumble a bit as they adjust to their new circumstances and explore their limited financial options. But once a former debtor’s confidence starts climbing…Read More
