Young adults in the United States are facing a future of great financial insecurity. On one hand, they are inheriting the social and political repercussions of a dangerously high national debt. On a more personal note, they need to balance the country’s rising living costs with college debts and fluctuating unemployment rates. Many desperate young adults are turning to bankruptcy…Read More
By filing for Chapter 7, debtors can liquidate their assets to pay off their creditors and eliminate any forgivable debts. However, this doesn’t necessarily mean that the overall legal process is simple or straightforward. There are countless forms that need to be accurately completed before your assets can be assessed and liquidated by the court. If you’re planning to file…Read More
In 2016, the U.S. Census Bureau reported that the average median income was $59,039 per household. While popular media doesn’t openly publicize it, 16.2 million American families are currently struggling well below the federal poverty level, and many citizens are finding it difficult to pay their monthly bills. Prioritizing Your Debts & Expenses When your household is running on a…Read More
No one intends to fall into debt, but, as the old idiom goes, “When it rains, it pours.” Sometimes, a person’s hand is played by fate, and unfortunate circumstances quickly rack up a daunting case of credit debt. In the span of a single year, a person can suffer unexpected medical expenses, unemployment, divorce, and a series of questionable financial…Read More
Quite frankly, bankruptcy is usually a person’s last choice when it comes to debt relief. Even so, filing for Chapter 7 or Chapter 13 bankruptcy can help you pay off your creditors and effectively alleviate your debts. Despite various misconceptions, bankruptcy can be your second chance at financial stability. However, if bankruptcy is in your future, it’s important to commit…Read More
Successfully completing Chapter 7 or Chapter 13 bankruptcy provides many people with amazing second chances at financial stability after years of struggling under the burden of significant debts. While the bankruptcy process may not be quick or easy, the end result is always worth it in the end. After all, once important facet of the overall process is that debtors…Read More
With legal guidance and persistence, filing for bankruptcy can be a permanent solution to a significant and life-ruining financial problem. While the bankruptcy process can be extremely challenging and stressful, it does reap substantial rewards and provides eligible candidates with second chances at financial stability. Of the various bankruptcy options, Chapter 7 is the most popular because it effectively liquidates…Read More
The ultimate purpose of filing for bankruptcy is to pay off your creditors and absolve your debts. For many people, bankruptcy provides a clean slate and a second chance at financial stability. However, before you make any decisions about filing for bankruptcy, it’s important to discuss your personal financial situation with an attorney. The first step in filing for bankruptcy…Read More
When you’re already facing financial hardship, the last thing you want to receive is a foreclosure notice. A lender initiates the foreclosure process when a debtor consistently fails to make their mortgage payments. During the foreclosure process, the lender regains ownership of the property and sells it in order to settle the debt. Depending on your circumstances, there may be…Read More
Chapter 13 is an excellent bankruptcy option if you have a regular source of income. By following a 3-5-year repayment plan, you can catch up on overdue payments and partially or completely pay off your debts. Chapter 13 also allows you to retain secured assets, including your home and business. You are eligible for Chapter 13 bankruptcy if: You are…Read More
