Helping You Understand The Truth About Bankruptcy Bankruptcy can be a scary concept to some people, but the truth is it is a powerful financial tool that has enabled countless Americans to manage their debt and build better financial futures. Still, numerous myths about supposed dangers or pitfalls of bankruptcy persist, unfortunately keeping people who might benefit from the institution…Read More
When you owe more than you can pay, the burden is not just financial. It can interfere with your mental health, prevent you from taking care of your loved ones, and keep you from living the life you deserve. The last thing you should do, however, is wait it out and hope that your luck changes for the better. As…Read More
Are you struggling with impossible levels of debt? Bankruptcy may be the solution you need. Every year, hundreds of thousands of Americans use it to discharge enormous amounts of debt. But navigating this process is not easy, and you’ll need to make many decisions along the way that could play a role in the outcome for both you and your…Read More
Is your company struggling to stay afloat? If so, you aren’t alone—especially today. Due to COVID-19, businesses of all sizes are enduring a tumultuous market and severe economic upheaval. Unfortunately, not every business will survive these challenges. In many ways, 2020 is a turning point, and the businesses that can adapt quickly are the ones that will most likely thrive…Read More
Chapter 7 is the simplest, fastest form of bankruptcy, discharging filers’ debts within a matter of months. But there’s a catch—the trustee may seize and sell your property in something called a liquidation process. Fortunately, every state has a list of bankruptcy exemptions. A bankruptcy exemption is a type of property or amount of funds that you can shield from…Read More
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
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
