Category: Bankruptcy Issues Archive
Death and Debt
In total, American consumers owe $11.74 trillion in debt (as of 2014), an increase of 3.3% from the year before. $882.6 billion of that debt is credit card balances. $8.14 billion is mortgage loan balances. $1.13 trillion is accounted for by student loan balances (an increase from 8% from 2013). ...
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Bankruptcy in the Military: Does Filing For Bankruptcy Hurt My Chances?
is not unheard of – filing for bankruptcy will not preclude your enlistment, but negative financial circumstances could do it. To join the military, certain financial standards have to be met. A bankruptcy in your past will not prevent you from joining on its own, but the circumstances that led ...
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Bankruptcy Basics: What is Wage Garnishment?
Individuals who consider filing for bankruptcy have many reasons. Some have experienced life altering career changes. Others have endured long term medical conditions resulting in astronomical, unexpected bills. Still others are simply aware that their credit card balances are never going to drop to an attainable level. And others are ...
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Will My Vehicle Be Repossessed When I File for Chapter 7 Bankruptcy?
Many consumers who are considering filing for bankruptcy have the same question regarding a possible bankruptcy and auto loan, “Can my car get repossessed when I file for Chapter 7 bankruptcy?” The simple answer is yes; your car loan lender can get the court’s permission to repossess your vehicle during ...
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Bankruptcy and Taxes
It seems that anything you do nowadays is going to have tax consequences, so it shouldn’t surprise anyone that bankruptcy will have a few tax consequences of its own. Make sure you are informed about the laws regarding bankruptcy and taxes starting with noting down the difference between the consequences attached ...
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Filing for Bankruptcy to Save Your Assets: Waiting Could Hurt You
One of the most frequent mistakes made by bankruptcy filers is that they wait too long to file. It’s natural to feel a reluctance to start the bankruptcy process. Considering filing for bankruptcy and actually filing are two very different things, but don’t allow yourself to get stuck in the ...
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Bankruptcy Eligibility: Do I Make Too Much Money?
If you are worried about whether or not you make too much money to file for bankruptcy, you should make an appointment to discuss it in detail with an experienced California bankruptcy attorney. There are some guidelines that you can consider in order to get an idea of whether or ...
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The 4th Step in Becoming Debt Free in 2015: Your Time on Stage
Once your bankruptcy case is filed, you’ll be surprised how quickly and smoothly the process moves along. Remember that millions have filed bankruptcy before you and the process has been fine tuned into a streamlined process. Tens of thousands of bankruptcy cases are handled per month in each state across ...
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Becoming Debt Free: Your Third Step
The third step in becoming debt free is to file for bankruptcy. The fact that they call it “filing” takes away from the excitement of the idea, but it’s a big day for you! Your bankruptcy attorney will file your bankruptcy electronically so it can be submitted anytime 24/7. The ...
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After Filing for Bankruptcy – Understand The Expectations
Once you’ve decided to file for bankruptcy and hand picked the bankruptcy attorney that makes you feel most comfortable, it’s important to understand the expectations. Specifically, you need to know what will be expected of you throughout the bankruptcy process. You can’t just shake your new bankruptcy attorney’s hand and ...
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