Category Archives: Bankruptcy
Consumer Defaults Continue to Climb in 2018
According to a new report, default rates for bank cards have surged to their highest level since 2012. Despite the robust jobs market in the United States, many consumers remain overextended, unable to make even the minimum payment on their debts. If this describes your situation, consider bankruptcy as an option for clearing out… Read More »
Why Debt Settlement May Not Be a Great Idea
Are debts weighing on your mind? If so, you probably are finding it hard to sleep at night or think about anything else during the day. The good news is that help is available. However, not all debt relief options are the same. One terrible option is “debt settlement,” which typically involves trying to… Read More »
Reaffirming a Secured Debt in a Chapter 7 Bankruptcy
A Chapter 7 bankruptcy is a great way of wiping out unsecured debts like medical debt, credit card debt, and personal loans. However, you will not so easily get free of secured debts, such as a car loan or a home mortgage, because those loans are backed by collateral. Although the bankruptcy might wipe… Read More »
The Dangers of Using a Paralegal to File for Bankruptcy
Many bankruptcy lawyers receive many panicked calls from consumers who have tried to file for bankruptcy on their own. Everything seemed to be going smoothly but then, suddenly, they realized that they did not fill out the paperwork properly. As a result, some consumers have their petitions rejected by the bankruptcy court. As a… Read More »
Three Common Bankruptcy Myths
Filing for bankruptcy is one of the most significant financial decisions you can make, so you must have all of the facts before you decide. Unfortunately, we meet with clients every day who are laboring under misconceptions about what bankruptcy can do and its effect on their credit score. Before you can decide what… Read More »
5 Mistakes People Make before Filing for Bankruptcy
If done right, bankruptcy can provide you with a fresh financial start and a new outlook on life. However, we have seen people commit some common errors before filing. These mistakes can cause the court to reject your bankruptcy petition, and they can be costly to fix. Before filing for bankruptcy, make sure to… Read More »
4 Things to Do After a Bankruptcy Discharge
Congratulations! You have received your bankruptcy discharge and are ready to move onto the next chapter of your life. However, before getting ahead of yourself, you need to make sure you don’t backslide and become indebted again. Wiping out old debts is only half of the battle. Follow the tips below for making your… Read More »
2017 Was a Big Year for Consumer Credit
You might have been noticing more new cars in your neighborhood or more neighbors starting home improvement projects. There is a reason. According to a recent report from TransUnion, 2017 saw consumer credit grow at a steady pace, with more than 20 million new credit accounts opened in 2017 alone. TransUnion credits the strengthening… Read More »
How to Avoid Financial Disaster
Debt doesn’t matter—until it does. Credit card bills pile up, home mortgage rates shoot up, yet you don’t notice anything because you can continue to make your minimum monthly payment. Until one day, you find that you can’t. At that point, you might start panicking, wondering how you reached this point. If you haven’t… Read More »
Modifying a Chapter 13 Repayment Plan
Despite your best planning, sometimes life throws you a curveball. You might suddenly become ill, lose a job, or have your hours reduced. For most Americans, any unexpected drop in income can wreak havoc on their lives. But those with a Chapter 13 bankruptcy have another problem—you might not be able to continue making… Read More »