Articles Posted in Bankruptcy

Bankruptcy is a legal tool that was intended to help the consumer, not harm them. Unfortunately, myths and misunderstandings about bankruptcy have led many people to have false beliefs about bankruptcy. People often wonder whether friends, family, or their employer will find out if they have filed for bankruptcy. Although bankruptcy filing records are public…

For many people, finances often take the back seat or are swept under the rug, that is, until a problem arises. Many people experience financial hardship that builds over time, while many more simply fall onto hard times unexpectedly. Regardless of how you end up in debt, one thing that you cannot afford during financial…

Anyone suffering under debt problems or financial hardship understands the amount of stress money troubles can take on a person. Couple high stress burdens, along with a complicated legal process, and seeking debt relief through bankruptcy can seem like more trouble that help. Fortunately, the bankruptcy process is intended to help debtors, not work against…

When it comes to debt relief, not all solutions are created equal. Some debt relief options, may not be effective for debt resolution or could put you at risk of further debt collection. While the bankruptcy process can be a tricky process when it comes to debt relief, much of the complications are the result…

Financial problems are often a source of contention in marriages, especially if large debts are burdening the family. If you and your spouse are experiencing overwhelming debt, you may consider filing for bankruptcy to get rid of the debt. However, timing is important. If you are yet to marry, it is essential to figure out…

The primary reason an individual goes for bankruptcy is to get their debts discharged by an order from the court. Once they get the discharge, they no longer need to worry about repayments to their creditors. However, the road to financial freedom is not always easy. Bankruptcy proceedings can be complicated, and sometimes the creditors…

Filing for bankruptcy is not always an easy path, but it is essential to avoid inevitable common mistakes that many individuals have made in the past. Mistake #1: Waiting too long to file One of the main mistakes debtors make is waiting too long to speak with a bankruptcy attorney, opening their financial insolvency to…

When you are considering bankruptcy to get out from under your debt, you may see many legal terms unfamiliar to you. If you have a brief understanding of the definitions, you may be less overwhelmed and confused by the whole bankruptcy process. This is by no means the complete list, but it will help you…

Financial stress is the number one burden on the success or failure of a marriage. Often people find themselves facing both financial ruin and separation from their spouse. If you are having marital and financial difficulties and feel bankruptcy and divorce are your best options, you may want to consider the timing of both legal…

What Is Pre- Bankruptcy Planning? This typically is done by evaluating the timing of your filing. There are some reasons why you might want to plan when to file is to legally move assets around or wait until your income best reflects your current situation. The process of converting non-exempt assets to exempt ones is…