Tag: filing for bankruptcy Archive
Receiving an Inheritance Post-Bankruptcy
Bankruptcy in and of itself is a simple idea. It is the process by which a consumer applies for a discharge of debts due to severe financial strain. The complexity occurs when you realize that those consumers are people who are living their lives. They experience surprises, unplanned events, complications ...
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Addressing the Consequences of Fraud with Bankruptcy
The majority of card fraud occurs in the United States. In fact, research conducted by Barclays indicates that 47% of worldwide card fraud occurs in the U.S. even though we only claim 24% of the worldwide card volume. In 2014, 31.8 million U.S. consumers had their credit cards breached. That ...
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Bankruptcy Basics: Halting the Garnishment of Your Paycheck
Bankruptcy petitioners always have a reason that they filed for bankruptcy. In every instance it was because they had too much debt to handle, but in almost every instance there was also that one last problem or situation that caused them to make the leap to petition the court for ...
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Bankruptcy Does Not Discharge Criminal Debts
If you are facing a major amount of criminal debt and feel you have no way to feasibly cover the financial burden it imposes, you may be considering bankruptcy as a solution. The first thing you should know in this situation is that bankruptcy does not discharge criminal debts. The ...
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Purchasing a Vehicle Before Receiving Bankruptcy Discharge
There are many bankruptcy petitioners who fear the consequences wreaking havoc on their ability to have a vehicle and stay mobile. Bankruptcy laws may leave petitioners aware that they can’t keep the vehicle they have currently (for a number of different reasons), but equally aware that they will need a ...
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Signs That You May Be Headed for Chapter 7 Bankruptcy
You may think that it should be obvious if you are headed for the type of financial situation that requires a bankruptcy filing. But in many cases, a number of issues come to a head at the same time, leaving consumers confused and unsure about where they are and if ...
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Bankruptcy Schedules: How Much Do You Spend on Healthcare?
When it comes right down to it, most people don’t have any idea how much they spend on health care. When you’re filing for bankruptcy, one of the forms or schedules that must be completed is a budget. When the discussion of bankruptcy gets rolling, it’s hard to get very ...
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Can Your House Be Sold While You Are in Bankruptcy?
During bankruptcy, a house can be sold, but it requires the court’s permission. As soon as the petition for bankruptcy is filed, the home and all other possessions of the petitioner become a part of the bankruptcy case. Creditors cannot foreclose on your property while it’s shielded by bankruptcy, but ...
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Student Loans, Parent Student Loans & Bankruptcy
Many couples “help” their adult children. Some buy them cars, some provide down payments for cars or housing. Others pay cell phone bills. But one of the most common methods of financial assistance that parents provide their “grown up” children is with finances for college: student loans. In some cases, ...
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Converting Chapter 13 to Chapter 7 Due to Divorce
If you are in the midst of a Chapter 13 bankruptcy plan and you find yourself facing a divorce, you don’t want to add to the emotional stress with financial stress that can be avoided. Divorce typically comes with some major financial changes: two households instead of one, spousal maintenance, ...
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