If you’ve fallen on hard financial times, bankruptcy can help set you on the right course. You can receive a discharge of debts with Chapter 7 bankruptcy or discharge some debt and create a repayment plan with Chapter 13 bankruptcy. However, there are many considerations and steps to navigate. These bankruptcy basics are intended to […]
The Senate passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 25, 2020. Enacted on March 27, the legislation placed short-term restrictions on lenders and servicers of federally backed loans. It enforces mandatory forbearance obligations, moratoriums on foreclosures, and revises credit reporting obligations to help individuals and businesses facing financial hardship […]
Bankruptcy is an option during tough times. If you’re deep in debt due a loss of employment, emergency repairs, or a divorce, you can file for Chapter 7 bankruptcy to receive a discharge of debts, if approved by the court. With a Chapter 13 bankruptcy case, some debt may be discharged while you’ll receive help […]
Bankruptcy can provide you with a way out of tax debt. But when it comes to the IRS, being cleared of unpaid tax debt is more complicated than a court-approved discharge of, for example, credit card debt. Filing for bankruptcy can reduce or eliminate federal and state tax debt, as well as back taxes owed […]
The decision to file for bankruptcy is never an easy one. For married couples and those thinking about marrying their loved one, filing for bankruptcy can be even more complicated. Debt collection, foreclosure, and wage garnishment become not only personal problems, but your partner’s as well. To reduce the stress, here are answers to common […]
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 […]
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. […]
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 […]
There comes a time in every law firm’s lifespan where we have to shamelessly promote ourselves and toot our own horn. This would be that time. There are a million reasons why we believe that OakTree Law is at the top of our class, but allow us to outline those reasons here. Life is full […]
