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Filing for bankruptcy can be a positive experience that helps regain your financial footing. However, there are certain steps that can hurt your bankruptcy case, even if they’re in good intention or accidental. Here is what you should avoid before filing: Don’t Lie About Your Assets Always be completely honest about your assets. Your case […]
With most bankruptcy proceedings, it is an inevitability that you’ll have to meet with an attorney, a bankruptcy trustee and possibly creditors at some point in the process. When either individuals or businesses file for Chapter 7 bankruptcy the court will schedule a Creditors Meeting. Otherwise known as a 341 hearing, a Creditors Meeting is […]
There are all sorts of loans. Car loans, student loans, small business loans…the list goes on. But the one that individuals seek the most assistance with is a home loan. Falling behind on mortgage payments isn’t all that uncommon. Sadly, homeowners still feel a sense of shame when they default on their mortgage and tend […]
Consumer debt surpassed $4 trillion in December 2018, according to the Federal Reserve. This includes revolving credit card debt, which now stands at over $1 trillion.1 At the end of 2018 alone, more than $41 billion in outstanding credit card balances was added. And, according to data from Experian, the average American has a credit […]
Those that have never had a reason to consider bankruptcy as an option to combat mounting debt, most likely view it as a worst-case scenario. But if you are one of the thousands of Americans up to their necks in debt, bankruptcy is not only one of the last options, it can be a saving […]
The Honoring American Veterans in Extreme Need Act of 2019, or HAVEN Act, was passed on August 23, 2019. It has important implications for veterans who file for Chapter 7 and Chapter 13 bankruptcy. After all, nearly 15% of those who file for bankruptcy in the U.S. are veterans (who account for just 10% of […]
Facing foreclosure can be one of the more troubling life events of adulthood, but it can happen to even the most financially savvy homeowners. ATTOM Data Solutions released its 2018 Foreclosure Market Report that shows bank repossessions, defaults and foreclosure filings are down 78% since the peak of the crash in 2010. Even though U.S. […]
Debt seems to be a word we’re all too familiar with these days. Americans are said to have an average of 38k in personal debt, and that doesn’t include home mortgages. Most households rely on credit cards to get by, but then quickly realize they are in over their heads when it is time to […]
If you’re facing large amounts of debt, resolving your situation is a top priority. Keeping your car is probably at the top of the list as well, since you’ll still need to get to work, the grocery store, and to school to pick your kids up. Whether you can keep your car depends on several […]
When you file for bankruptcy, it can remain on your credit report for up to 10 years. You may wonder what good discharging your debt has done. However, it’s possible to start rebuilding your credit soon after your bankruptcy filing. In fact, lenders can look upon your lighter debt burden favorably. There’s also no possibility […]
