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Posts tagged "bankruptcy"

Should I Pay Off Debt With My Retirement?

Should I Pay Off Debt With My Retirement (3).jpgDebt 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 hide under your covers.

What if a Creditor Sues Me?

What if a Creditor Sues Me (2).jpgIf you are struggling with debt, you are well aware of this timeless fact: creditors are relentless in their pursuit of money. They are willing to engage in all manner of collection efforts, including harassing letters and phone calls to get what they believe they are owed. Sometimes, creditors will even file lawsuits against debtors.

Dealing with Liens

Dealing with Liens.jpgBankruptcy 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. When the dust settles after a bankruptcy court discharges a person's debt, they may feel a great sense of relief.

Credit Counseling and Bankruptcy

Credit Counseling and Bankruptcy.jpgBankruptcy 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 balance of the property rights of creditors to money they are owed versus the rights of debtors to get out of the prison of insurmountable debt.

Bankruptcy Mistakes to Avoid

Bankruptcy Mistakes to Avoid.jpgThe 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 make ends meet, and of aggressive creditors. However, it is entirely possible to jeopardize and harm your ability to reap the benefits of bankruptcy.

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?

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.

5 BENEFITS OF FILING BANKRUPTCY WITH YOUR SPOUSE BEFORE DIVORCE

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.

5 FACTORS TO CONSIDER IN DECIDING WHETHER TO FILE BANKRUPTCY BEFORE DIVORCE

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?

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