Facing financial hardship can be extremely stressful for those involved. Often, the option of filing for bankruptcy is the most logical course of action. As filing for bankruptcy is such an important decision, it is important to separate myth from reality. There are...
Bridgeport Law Blog
What to know about exemptions in a Connecticut bankruptcy
Many individuals who are struggling to cover their bills will start to look into debt relief. They often settle on bankruptcy as the go-to option that they believe is best for their situation. As consumers take time to learn about the different types of bankruptcy,...
How long do you have to make payments for a Chapter 13 filing?
The kind of bankruptcy you file determines how quickly you can receive a discharge and even how long the discharge will stay on your credit report. Many people in need of debt relief will file either a Chapter 7 or a Chapter 13 bankruptcy. There are some very big...
Can letting debt go to collections help you negotiate?
If you are having a difficult time financially or you have debts that you cannot afford to pay back, one of the things you may consider is not paying and allowing those debts to go to collections. While this is damaging to your credit, it can be helpful if you want to...
Can foreclosure happen in just a few days?
If you miss a mortgage payment, despite the fact that most lenders will not foreclose after a single missed payment, you know that you may run into such an issue in the future. It’s concerning for you and your family, and you can’t stand the thought of losing your...
Can creditors prevent you from discharging a debt in bankruptcy?
Many individuals who feel overwhelmed by their debt opt to file bankruptcy. They often do so in hopes that it will stop bothersome collections calls, eliminate their obligation to repay their unsecured debts, stop foreclosure proceedings or repossessions and bring...
The emotional effects of overwhelming debt
It probably won’t surprise anyone who’s dealing with more debt than they can handle that it can have an effect on a person’s emotional well-being. The impact of significant debt has been studied by mental health professionals. People who are overwhelmed by their debt...
How can you repair your credit after filing for bankruptcy?
If you have debts that you are unable to pay, are facing a foreclosure or are being harassed by debt collectors, you might consider declaring bankruptcy. And while bankruptcy can negatively impact your credit, the good news is you can always repair your credit score...
3 steps to stop foreclosure
If you have received a notice that you have missed mortgage payments and that your home is now going into foreclosure, it’s time to look into strategies to stop the foreclosure and help you keep or sell off that property. There are several methods you can use to stop...
If you miss a single mortgage payment, will the bank foreclose?
For ten years, you’ve been making your monthly mortgage payments on time. It’s just part of your monthly budget and it’s never been a problem. Then you missed a month. Maybe it just slipped your mind and you forgot to send it in. Maybe you had a tough month,...