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April 2018 Archives

What Are the Effects of a Stay in Bankruptcy Proceedings?

What Are the Effects of a Stay in Bankruptcy Proceedings.jpgBankruptcy offers relief and protection to people who have unsuccessfully exhausted all avenues to get out from under their debt. It is fortunate that these legal options exist, as the non-stop efforts of aggressive debt collectors, repossession attempts, and the threat of foreclosure can take an incredible psychological toll. If you are facing a financial crisis, your should speak with a bankruptcy attorney to learn about your options.


WHAT HAPPENS TO CHILD SUPPORT OBLIGATIONS IN BANKRUPTCY?If you are paying for child support and considering filing for bankruptcy you may want to know how a bankruptcy will affect your child support responsibilities.  On the other hand, if you are currently receiving child support, and the parent who is paying files bankruptcy, you may be wondering if they are still obligated to pay. Below is a general discussion of what happens to child support debt in a bankruptcy.


Depositphotos_49104165_m-2015.jpg    If you and your spouse can be amicable and work together on a joint bankruptcy filing, it can be beneficial for both of you.  There are many benefits for a married couple who are contemplating both divorce and bankruptcy to file a joint bankruptcy prior to filing for divorce.  This option should only be considered when it is appropriate to wait for a divorce filing. Depending on your circumstances, filing a joint bankruptcy petition with your spouse before a divorce can help to ensure your financial welfare going forward.  These are some of the reasons why you may want to file for bankruptcy before filing for divorce.

The Consequences of Foreclosure

The Consequences of Foreclosure.jpgPurchasing a home is one of the most exciting times in a person's life. While it is a major financial investment, it represents much more than that for the security, stability, and future of homeowners and their families. Unfortunately, life is not free of hurdles or challenges, and some people find themselves unable to make their mortgage payments. Whether this is because of a bad loan, unforeseen circumstances, or changes in financial status, the ultimate result of failing to make home payments is foreclosure.


5 FACTORS TO CONSIDER IN DECIDING WHETHER TO FILE BANKRUPTCY BEFORE DIVORCE Bankruptcy and divorce are two of life's most upsetting challenges and are often intertwined.  Financial stress may be a factor in the decision to get divorced.  Divorce itself may cause financial stress.  We are often asked by people headed for both bankruptcy and divorce which should come first?  Read on to learn more about what to consider when deciding which you should file first: bankruptcy or divorce?

Do Married Couples Have to File for Bankruptcy Together?

Divorce & Bankruptcy It is a common misconception that if one spouse files for bankruptcy, the other must also file.  This is not correct.  One spouse is permitted to file without the other.  However, in most cases the income of both spouse's incomes is counted toward eligibility for a Chapter 7 bankruptcy that requires a "means test" to qualify. Furthermore, if only one spouse files bankruptcy, the non-filing spouse is still on the hook for his or her own debts as well as any joint debts.      Another common misconception is that if one spouse files for bankruptcy, the credit of the other spouse will be adversely affected by that filing.  It is not the filing of the bankruptcy or the discharge of debts that adversely affects a non-filing spouse's credit. It is the nonpayment of joint debts and other obligations that could affect their credit. If all debts in the non-filing spouse's names are timely paid, that spouse's credit should not be adversely impacted by the bankruptcy of their spouse.

When Does it Make Sense to Hand Over Your Deed?

When Does it Make Sense to Hand Over Your Deed.jpgWhen a homeowner falls behind on their mortgage payments, it is very likely that foreclosure proceedings will soon follow. Struggling to make payments and facing foreclosure is all incredibly stressful and emotionally draining. However, you do have legal rights, and it is in your interest to speak to a foreclosure defense attorney to learn your options.

Why Would a Court Deny Bankruptcy Discharge?

Why Would a Court Deny Bankruptcy Discharge.jpgNo matter what you have read online, the decision to pursue bankruptcy proceedings is a deeply personal one and is not a one-size fit all solution for everyone. In fact, bankruptcy proceedings can be complicated and may not turn out the way you hope. This is why it is necessary to consult with a knowledgeable and experienced attorney to consider your circumstances and help you weigh your options.

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

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