If you have ever experienced the need to seek bankruptcy relief, you are well aware of the financial squeeze and sense of desperation that led to that decision. You are familiar with the legal process and the hard work it took to obtain a discharge of your debts. And...
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Bankruptcy Basics
Will Bankruptcy Ruin My Credit Forever? Dispelling Misconceptions About Bankruptcy
When you find yourself in the terrible position of overwhelming debt, you may feel trapped and paralyzed. You don't have enough resources to pay off your creditors, you've maxed out your credit cards, and you've taken on terrible new loans to pay off older loans. You...
When Creditors Call After Discharge
While bankruptcy is a measure of last resort, its purpose is clear: to provide an overwhelmed debtor with some much needed relief. This relief comes in the form of the discharge of a wide range of qualifying debt. At the end of the day, this is supposed to translate...
Should I Pay Off Debt With My Retirement?
Debt struggles can be an incredible burden on a person's mental and emotional well being. The constant stress of a growing pile of unpaid bills, the ever-rising interest penalties, and your inability to make ends meet can result in a desire to turn off the lights and...
Dealing with Liens
Bankruptcy is a process in which debtors either give up assets or reach a payment plan in order to pay off creditors, with the ultimate goal of discharging all qualifying debt. There is a lot of hard work and emotional energy that goes into accomplishing this feat....
Credit Counseling and Bankruptcy
Bankruptcy is a measure of last resort when it comes to debt relief. In fact, bankruptcy laws and the courts are designed to specifically protect people who actually need the relief, and not people who don't actually need it. This is because there is a delicate...
Forgiveness of Debt Income
When you have made the tough decision to file for bankruptcy relief and the dust has settled, the absolute last thing you want to think about is preparing your tax return. However, in order to rebuild your credit after bankruptcy, it is really important to make smart...
Consumer Credit: Houston, We Have a Problem
Consumer debt is a very real, and very big problem for many Americans. And it is only getting worse. As of March of this year, consumers in the United States carried a total of $3.87 trillion in consumer debt. This astounding number is a historic record, which...
Bankruptcy Mistakes to Avoid
The purpose of bankruptcy is to provide much-needed relief to debtors who are unable to repay their outstanding debts. This relief brings the ability to sleep better at night, without the constant stress of trying to make minimum payments, of constantly struggling to...
What Are the Effects of a Stay in Bankruptcy Proceedings?
Bankruptcy 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...
