When you make the wise choice to seek bankruptcy protection from creditors, you do so because you need relief
The Negative Consequence of a Pre-Bankruptcy Spending Spree
Celebrities Benefit from Bankruptcy and So Can You
People often believe that if they were rich and famous, they could live a happy life free of financial worries. Unfortunately, life is rarely worry-free for anyone. In fact, just like the rest of us, some of the most rich and famous people in the world have struggled with money. This can be due to over-spending, massive debt, bad investments, bad loans, unexpected medical expenses, dwindling job opportunities, and changes to the economy.
Dealing with An Upside Down Mortgage
Homeownership is an expensive investment in your family's future. When you purchase a home, you do so with the expectation that it will appreciate in value. Otherwise, you would just rent. Sadly, many Americans find themselves in a position where the value of their home is less than the homeowner's outstanding mortgage debt. This phenomenon is referred to as an "upside-down mortgage".
Protecting Yourself When Your Sole Proprietorship Closes
Your small business represents the culmination of hard work, innovation, and your hopes for a bright future. Unfortunately, taking this risk to make it on your own can come with hiccups. In fact, many small business owners find themselves struggling with debt as part of their journey toward independence and success. At Levitt & Slafkes, P.C., we celebrate sole proprietorships and take pride in helping small business owners obtain much needed debt relief.
Can I Get Rid of My Mortgage Through Bankruptcy?
For many overwhelmed debtors, bankruptcy offers a chance to move past certain debts, and to ensure that those creditors can no longer harass you. This applies to many types of unsecured debts, like credit card debts, medical bills, loans, and more. So when it comes to many people's most important asset-their home-it is critical to understand what bankruptcy can, and can't, do regarding mortgage debt. In other words, can you get rid of a mortgage through bankruptcy?
Bruce Levitt of Levitt and Slafkes Among Essex County's Top Lawyers 2018
Essex County's Top Lawyers 2018
Utilizing Chapter 11 Bankruptcy to Save Your Small Business
If you are an owner of a small business, you understand the incredible work, the sacrifices, and the emotional investment involved in making your business successful. It is part of your American dream-something of your own that you hope will be part of your legacy. But small businesses are risky, which leads to some taking on far more debt than they can afford to repay. While some businesses may choose to shut down and seek relief under Chapter 7 bankruptcy, some small business owners choose an alternative of Chapter 11 relief.
Creating and Implementing Your Chapter 13 Budget
The decision to seek bankruptcy relief is a hard one, but one that comes from a place of necessity and strength. In pursuing bankruptcy protection, it is necessary to enter the process with open eyes and a clear understanding of what is to come. This is a particular truth when seeking Chapter 13 bankruptcy relief.
Seeking Bankruptcy Relief a Second Time
Loan Modification Scams
The mere prospect of losing your home can have an incredibly negative effect on your mental health. Where will you live? Can you even afford to live somewhere else? How will your children cope with losing their home? What will happen to all of the money you already put into your home? You just want to find a way to make things better so that you and your family can stay in your home.
