Filing for bankruptcy is a significant decision, marking the beginning of a legal journey toward financial rehabilitation. A pivotal point in this process is the 341 meeting, also known as the “Meeting of Creditors.” It’s an essential step for many debtors. To help ease your concerns and better prepare you for this meeting, here’s a breakdown of some common questions that may come up. What Led to Your Financial Strain? …
Read More »Bankruptcy is designed to help Americans struggling with debt get on top of their financial troubles and start fresh. But one of the most immediate concerns for many debtors is how bankruptcy would affect their current rented home. Can you stay in your rental? Will you be forced to leave? And can you rent another home after bankruptcy? Here are some answers to help you find peace of mind. Can You Stay in Your Home?…
Read More »Debts can significantly affect your life. The endless efforts made by creditors to reach you and debt-related stress can impact your family’s stability and health. Although many people have dues, it can be easy to feel you’re battling it alone. If your creditor’s efforts to recover arrears become intense, it may be advisable to file for insolvency. If you don’t want this process to be stressful and overwhelming, consider working with a bankruptcy attorney.…
Read More »During a bankruptcy, all of the creditors are expected to be treated equally. As a result, if there is a belief that one creditor is receiving preferential treatment, this might lead to these payments being seized from the creditor so they can be more equally distributed. Preferential Payments The issue of preferential payments most often arises when you have a family member who you owe money to. You then pay money to your family member only to discover that they are treated as a creditor under bankruptcy law.…
Read More »If you have filed for some debt relief using Chapter 7 bankruptcy, you may soon learn about getting a trustee. This person is in charge of your bankruptcy case from the time you file it until the final discharge comes down. Most filers have limited contact with their trustee in person, but that doesn’t mean they don’t fill an important role with your case. For some guidance on what your bankruptcy trustee might want from you during the process, read on.…
Read More »Bankruptcy should only ever be used as a last resort way to get out of debt. It isn’t a problem solver for you every time you get into a pickle with your finances. If you are trying to file for bankruptcy every 7 years, this is a problem. You are using bankruptcy as a way of life, rather than a last-ditch effort. If you are struggling, it may not be bankruptcy that you need, you may instead need financial counseling.…
Read More »If you’re struggling to pay off your debts and you feel as if the bills keep piling up high, you may be considering filing for bankruptcy. While it can be a time-consuming process, many people use bankruptcy to help them get back on financial track. If you do think this is a good option for you, it’s best to first consult with a lawyer. Here are some reasons you should hire a bankruptcy law firm.…
Read More »Ideally, you won’t wait until your home has already been foreclosed upon to file for bankruptcy. Filing for bankruptcy as soon as you realize that you’ve fallen behind on your mortgage will give you more opportunities to avoid foreclosure in the first place—often through negotiations with the bank to refinance. But, what happens if you didn’t know that? What if you were so far behind on your mortgage payments that the sheriff’s sale started before you ever got your bankruptcy petition together?…
Read More »Beating cancer, or even just surviving it for any length of time, is an amazing feat. Following such a draining battle, you shouldn’t be burdened by the debt associated with your medical care. Unfortunately, the financial cost of taking on cancer is staggering, even if you have insurance. Don’t let debt dampen your ability to enjoy the life you’ve fought so hard for; talk to a bankruptcy lawyer, instead. Why Cancer Creates Debt…
Read More »Filing for bankruptcy is a big deal that will affect your life in both positive and negative ways, and there are numerous things you will need to do before and after you file for bankruptcy. You should always discuss your case thoroughly with a lawyer before filing to gain advice and tips about it, and here are some of the top things you should avoid doing after bankruptcy. Throwing Away Your Paperwork…
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