Bankruptcy Blog

What is a Denial of the Bankruptcy Discharge?

Imagine finally working up the courage to take control of your financial situation and file for bankruptcy , only to learn it will do you no good. After endless calls from creditors and feelings of desperation in relation to your finances, you fill out the paperwork and take the necessary steps to get things under control. Unfortunately, if not handled properly, your efforts could fail and your bankruptcy be denied....
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1480 Hits

What to Expect at Your Meeting of Creditors

A person filing for bankruptcy is required to participate in a Meeting of Creditors. It might seem like one of the most intimidating aspects of filing for bankruptcy, but if you understand what to expect and work with an experienced bankruptcy attorney, the meeting becomes just another part of the process. The Meeting of Creditors, also known as a 341 Meeting, is the only time you are expected to appear...
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1712 Hits

What is the Bankruptcy Means Test?

Determining whether or not you qualify for bankruptcy can be an intimidating experience. Struggling with finances does not automatically make you a good candidate for bankruptcy, and likewise, doing “OK” financially could still mean you are on a one-way path to needing bankruptcy. There are several things you need to consider when determining if bankruptcy is right for you. One issue is whether or not you qualify for a chapter...
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1474 Hits

Top Five Signs It’s Time to Call a Bankruptcy Attorney

Contacting a bankruptcy attorneyContacting a bankruptcy attorney is something the average person tends to put off for as long as possible. Unfortunately, waiting too long can cost you even more. Though you do not want to rush into such an important decision, once you know for sure bankruptcy is a reasonable option, you should act quickly. Waiting allows your financial situation to worsen and in some cases, can cost you...
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1830 Hits

What is Bankruptcy Fraud?

Bankruptcy fraud is a serious offense and can cause your bankruptcy case to be dismissed. Worse yet, it can get you into legal trouble. Unfortunately, people filing for bankruptcy are accused of committing fraud even if their actions were unintentional. This is why it is so important to work with an experienced bankruptcy attorney who can help you keep your filing organized and on track. In most cases, bankruptcy fraud...
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1821 Hits

What Debts Cannot Be Discharged in My Bankruptcy?

Many people assume filing for bankruptcy will solve all of their financial problems. In fact, many have used the process to the point of abuse when it comes to repaying their debts. They accumulate debt, planning in advance to declare bankruptcy and eliminate their responsibility to pay it back. Unfortunately, this has not only led to stricter regulations that make it more difficult for the average, well-meaning person to file,...
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1687 Hits

Bankruptcy and Your Student Loan

For many, the bulk of their debt is from the money they borrowed to attend college. Many people filing for bankruptcy either have a big chunk of student loan debt or are put over the financial cliff when their student loans come due. Furthermore, many of the most common questions from people considering bankruptcy relate to student loans. “Will filing alleviate my student loan debt?” “Can my student loan debt...
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1751 Hits

How Can I Improve My Financial Situation?

Not having enough money to pay your bills is usually a symptom of a bigger problem. Unfortunately, it can indicate a serious issue with your financial health. In many cases, something that begins as a minor problem making ends meet can spiral out of control. This is especially true for many lower and middle income families that are living paycheck to paycheck. Pulling a bit from savings here and there...
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1982 Hits

Top Five Mistakes Made Prior to Filing for Bankruptcy

Bankruptcy is a mysterious process to many and in some cases people are embarrassed to admit bankruptcy is their only option. Unfortunately, society has created a bankruptcy stigma and people who choose to file believe they will be viewed as irresponsible or careless, and avoid filing, even if it is in their best interest. As more honest discussion about bankruptcy occurs, attitudes will change. Additionally, because of the current financial...
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2689 Hits

Top Five Bankruptcy Myths

Many people are surprised to learn much of what they thought they knew about bankruptcy is actually untrue. Chances are unless you are struggling with debt or considering bankruptcy, you pay little attention to bankruptcy law. Unfortunately, this leads to a lot of misunderstanding about the process, and in situations when a person might be helped by filing he or she dismisses the opportunity because of misconceptions. What are some...
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1988 Hits

What is Fair Credit Reporting?

Fair credit reporting is a term associated with your credit report. Credit reports are files featuring details about your identity, your employment history, your address, and other important information about your borrowing and repayment history. Creditors use this information to determine whether or not to extend you credit when you request a loan. Credit reports are generated by credit reporting agencies. These companies are governed by the Fair Credit Reporting...
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2299 Hits

Chapter 13 Bankruptcy and Divorce

Financial issues are often a point of contention during a divorce and bankruptcy can complicate the situation even further. When soon-to-be-former spouses are considering or in the process of a Chapter 13 bankruptcy, the decision to divorce can have a major effect on the bankruptcy. Chapter 13 bankruptcy is the option chosen by those who are earning money, but in need of a controlled plan for paying back their unsecured...
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2135 Hits

What You Need to Know about Credit Counseling

For many people experiencing financial struggles, bankruptcy is an absolute last resort and they will do whatever it takes to avoid filing. Unfortunately, “whatever it takes” is often far more detrimental than had they chosen bankruptcy. Though bankruptcy does signify a person is experiencing significant financial hardship, it provides an opportunity to put an end to a situation that has spiraled out of control. Bankruptcy gives you a path back...
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1935 Hits

What is a Bankruptcy Trustee?

Anyone who files for bankruptcy is assigned a trustee. This is an impartial person appointed by the court system to oversee the case and ensure the bankruptcy filing is proper and determining whether there are any funds or assets available to distribute to creditors. The trustee’s duties include reviewing the debtor’s petition, investigating the debtor’s financial status and ensuring all assets and liabilities are properly disclosed. The specifics of what...
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1797 Hits

What is the Difference between Unsecured Debt and Secured Debt?

Financial debt occurs when you borrow money to pay for something. There are two types: unsecured and secured. It is the item or items for which the money is borrowed that determine whether it is secured or unsecured debt. For instance, if there is property a creditor can take from you if you fail to pay the debt, it is a secured debt. There must be a tangible item with...
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11141 Hits

What Should I Know about Wage Garnishment and Bankruptcy?

Wage garnishment is a term that frightens many people facing financial hardship. This is due in part to people not fully understanding how wage garnishment works. If a person owes a debt and is unable to pay it of his or her own accord, and he or she has a steady income from an employer, wages can be garnished. This means a payment to the lender is taken from the...
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1933 Hits

Can Bankruptcy Help If I’m Facing Foreclosure on My Home?

Foreclosure is one of the scariest experiences a homeowner can encounter. The thought of losing your home because you fall behind on payments is devastating. Unfortunately, when you purchase a house, you can never be 100% certain what the future holds. The loss of a job or the surprise of medical bills can trigger a financial emergency and within just a few months, you are faced with threats from your...
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1907 Hits

Finding a Bankruptcy Lawyer that is Right for You

Making the commitment to improve your financial situation by filing for bankruptcy is a big step. It creates a shift from hopelessness and harassment to positive action and self-control. However, not all bankruptcy filings run smoothly. One of the most important things you can do to ensure bankruptcy helps you build a brighter future is to work with an experienced bankruptcy attorney. How do you find an attorney that is...
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5446 Hits

Protecting Your Identity: Reducing Your Risk for Bankruptcy by Keeping Control of Your Credit History

With the New Year and the recent credit card unpleasantness at Target during the holiday shopping season, it is a good time to take a look at identity theft. When was the last time you assessed your identity protection shield? You never know when a criminal is lurking around the corner, either in person or online. Luckily, there are several actions you can take to reduce your risk for identity...
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4900 Hits

Is It Possible to Rent a Home after Bankruptcy?

Finding a place to live is stressful enough as it is, but if you have filed for bankruptcy and you are trying to rent an apartment or house, the experience can be even more so. Bankruptcy can make it tougher to rent a home, but doing so is not impossible. There are several things you can do to ensure renting a home goes smoothly for you and your family, even...
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4257 Hits

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