Bankruptcy is a fix for your financial woes but, its success depends on you. Bankruptcy will stop creditor harassment and collection efforts while you get your financial life back in order. Chapter 7 is the quickest option, which liquidates eon-exempt assets to pay down debt. A Chapter 13 debt reorganization forces creditors to take what … Read More
With 10,000 Baby Boomers turning 65 every day, why aren’t more people retiring? A recent survey predicts that by 2026, 60% of seniors 60-64 will still be working. Two in five of those questioned say they have no plans to retire until age 70. Why are they holding off retirement? The primary reason is the … Read More
To file or not to file? It is the big question many struggle to answer when facing financial uncertainty. Maybe you should be asking, is now the right time to file? Timing can be important in certain bankruptcy filing situations. Reviewing your situation with a bankruptcy professional can help you determine whether or not it … Read More
Each year, 500,000 Americans file for bankruptcy. They start this journey for a million different reasons, ultimately traveling the same path. Everyone must face the daunting task of reconstructing their credit rating. A Chapter 13 filing stays on your records for seven years while Chapter 7 remains for 10 years. Bankruptcy, however, does not taint … Read More
After working and saving for your golden years, a sudden illness forces you to quit work. The medical bills start piling up and creditors begin calling. Filing for bankruptcy stops the harassment, but what if you lose your nest egg? Unfortunately, this scenario is more common than we would like. If you are facing an … Read More
Chapter 7 bankruptcy (and Chapter 13) discharges much of your responsibility to pay debts. It does not, however, remove liens attached to your personal or real property except in certain circumstances. When you finance a home or new car, you agree to guarantee the loan with collateral – the house or car you used … Read More
The court-appointed Trustee serves a different role in a Chapter 13 filing than a Chapter 7 bankruptcy case. Administration is their primary function, keeping accurate records of your payments and creditors’ compensation, whereas their responsibility is to liquidate the client’s assets to pay back a percentage of what is owed in a Chapter 7 filing. … Read More
If you’ve ever asked a family member or friend to cosign a loan, it seems like a standard agreement until you consider the risks they are taking on your behalf. Filing for bankruptcy could also have consequences for your cosigner. If you consider filing, an experienced bankruptcy attorney can help you decide what type of … Read More
Whether you go through Chapter 7 or Chapter 13 bankruptcy, most types of debts are discharged at the end of your case. It should be the last you hear of them. Unfortunately, some unscrupulous debt collectors may try to resurrect them. Creditors sell unresolved debts to collection agencies for pennies on the dollar. Some … Read More
The mandatory 341 meeting is a very important part of the bankruptcy process. The meeting occurs 20 to 40 days after you file for Chapter 7 or Chapter 13 bankruptcy so the court-appointed Trustee and your creditors can review your financial information before the court rules on discharging your debts or approving your Chapter 13 … Read More
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No upfront attorney fees in qualifying cases. Pay only court filing fee, credit reporting fee, and pre-bankruptcy credit counseling session fee to get a case on file to stop garnishments, repossessions, and certain court actions. Restrictions may apply. Please call to discuss your situation and learn how we can help.
