A common misconception is that the only reason to file for bankruptcy is if you’re behind on your payments. This is simply not the case. Although you may be current on your payments now, anticipated circumstances such as divorce, job loss or medical expenses may render you unable to make payments in the future. Instead of it being a last…Read More
A heavy tax bill can hit you like a freight train, but unlike rail transport, there’s simply no dodging the IRS. Once April rolls around, you have to either pay your taxes or face the consequences, which can be really steep penalties. A tough situation like this may force you to resort to your credit card. The IRS accepts credit…Read More
Many individuals consider consolidation when facing overwhelming debt. At first, in can seem like an appealing way to put an end to creditor harassment, maxed out credit cards, and the like. However, for as many “pluses” as consolidation seems to offer, there are just as many – if not more – drawbacks. Before you agree to a debt consolidation plan,…Read More
Nearly 9.7% of all U.S properties during the first quarter of 2017 were “underwater”–meaning the balance of the mortgage is more than the property is worth. According to the report, from ATTOM Data Solutions, that’s a little under 5.5 million properties that homeowners are financially burdened with. Fortunately, there are a couple of options that will not only allow you…Read More
Bankruptcy law is complicated, and debtors should seek the advice of an attorney experienced with bankruptcy. However, if you are determined to file alone, there is nothing prohibiting you from doing so. When you file for bankruptcy without the representation of a lawyer, it is called pro se. It is important to remember that the Clerk’s Office staff cannot assist…Read More
A wage garnishment is when a creditor takes money from your paycheck. If you owe money because of a court judgement, child support, student loans, or back taxes, you may be subject to wage garnishment. However, there are limits to how much money can be taken from your paycheck. Learn more about wage garnishment and what your rights are below.…Read More
If you’ve filed for bankruptcy in the past, typically the only restriction placed on filing another one is time. Depending on the type of bankruptcy you file for and the outcome of the case, that can range anywhere from a few days to up to 8 years. Continue reading to learn everything you need to know about filing for bankruptcy…Read More
Once you’ve made the decision to file for bankruptcy, you’ll need to determine which type of bankruptcy is best for you and your financial situation. If you’re an individual or small business owner, it’s likely that you’ll be filing either a Chapter 7 or Chapter 13 bankruptcy. For corporations or partnerships that are struggling, Chapter 11 may be a more…Read More
