Helping People Recover from a Debt Crisis

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How A Bankruptcy Attorney Can Help With Debt Relief

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If you have reached a point financially where you do not have enough income to pay all the bills that come in, it is time to make some changes. While you can work to reduce any new bills you incur, you will still have old bills that need to be paid. It can be very stressful and you may debate filing for bankruptcy. While this is an option, most bankruptcy attorneys will advise some type of debt relief or consolidation before actually filing, and there is good reason for this. Read More»

Four Things To Know About Filing For Chapter 13 Bankruptcy

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Even though you are making your regular payments, your debts aren’t going down. If you have regular income, chapter 13 bankruptcy can help you restructure your debts so that you can actually pay them off, instead of watching the balances climb each month. Take a few minutes to learn some of the important details about filing for chapter 13 bankruptcy. 1. The Bankruptcy Takes Years to Complete The exact term of your chapter 13 bankruptcy varies based on how much you owe to creditors and how much income you have. Read More»

Payday Loans And Chapter 7 Bankruptcy

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Payday loans have a bad reputation, but for those in desperate financial straits, there may be no alternative. Unfortunately, being in desperate financial straits can lead to another inevitability, a bankruptcy filing. While you may know that the vast majority of your debts can be wiped out with a Chapter 7 filing, you may also know that some debts will remain after the bankruptcy. It’s in your best interest to get the most debt forgiveness possible with your bankruptcy filing, so read on for a better understanding of how payday loans are treated when filing for a Chapter 7 bankruptcy. Read More»

Are You Eligible For Chapter 7 Bankruptcy?

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Chapter 7 bankruptcy can seem preferable to chapter 13 for many people, since you won’t have to repay any of your debts under chapter 7. This gives you the means to start with a fresh slate financially. Not everyone qualifies for chapter 7, though. The following guide can help you determine if it is a viable option for you. The Means Test You must prove that you do not have the means to repay your obligations in order to qualify for chapter 7 bankruptcy. Read More»

What Happens In A Debt Collection Lawsuit?

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According to Credit.com, there are seven different ways to defend a debt collection lawsuit. With so many different options to consider, it is normal for you to wonder what to expect. Two Most Effective Defenses There are just two defenses that tend to be effective when it comes to debt collection lawsuits. The first will allow the consumer to provide evidence of the debt not belonging to him or her. The second involves a defense that will aid the consumer in reaching a lower settlement price for the debt acquired. Read More»

Faqs About The No Asset Bankruptcy

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When you file for Chapter 7 bankruptcy, the trustee has the right to take possession of some of your assets so that he or she can sell them to pay off creditors. However, if you do not have any assets that the trustee can take, you might have to file a no asset bankruptcy. Here is what you need to know about the process.  What Is a No Asset Bankruptcy? Read More»

Addressing Common Questions About Filing For Bankruptcy

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There is a common misconception that people only need to file for bankruptcy because they have been irresponsible with their money. However, this is not always the case, and there are a variety of things that can force a person to seek this type of protection. You may not be familiar with this type of legal protection, and as a result, you may benefit from learning the following answers to common bankruptcy law questions. Read More»

Facing Foreclosure? Does Your Lender Have The Right To Sue?

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If you’ve fallen behind on your monthly mortgage payments, you may have already begun receiving threatening letters from your bank or mortgage lender. After a certain period of time has passed without payment, you’ll be declared in “default” and the bank will file a lawsuit to foreclose your mortgage. However, in today’s mortgage market, where loans are bought, packaged, and sold multiple times over the life of the loan, the bank that files a foreclosure lawsuit may not even be owed money. Read More»

Filing For Bankruptcy: Reversal Of Preference Payments To Insiders

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With the U.S. economy still struggling to climb out of debt, many Americans are looking to catch a break financially by filing for bankruptcy. The final count for 2014 U.S. bankruptcy filings was approximately 910,090. And during hard times, most people turn to family members and friends to help them out, and many people have asked family members and friends for a loan. However, problems can and will happen when you attempt to pay your relatives and friends back before you file for bankruptcy. Read More»

3 Alternatives To Filing For Bankruptcy

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Filing for bankruptcy is not a decision that should be taken lightly. Even when it feels like times are tough, you may still be deciding if bankruptcy is right for you. Bankruptcy should be used as a last resort, which is why you should evaluate your financial situation carefully before officially filing Negotiate Your Debts If you have debts that will be wiped away by filing for bankruptcy, some of your creditors will be left with nothing. Read More»