If you’re already drowning in debt, it can be tough to find a place of respite from all the bill collectors hounding you through phone calls and letters. Thanks to new rules by the Consumer Financial Protection Bureau (CFPB), you won’t be able to escape debt...
Bridgeport Law Blog
The benefit of reorganizing debt
The general idea behind Chapter 13 bankruptcy is that you can reorganize your debt into a new repayment plan. This new organization of the money you owe helps you pay it off over time, though you do have set payments that you have to make on a set schedule. If you’re...
A Chapter 7 bankruptcy may give you the relief you need in 2021
There is no doubt that 2020 has been a tough year for lots of people. The economy has been weakened, and job losses have been significant. People have used their savings to get through, and many are still struggling despite their best efforts to stay afloat. If you...
How can a loan modification help you if you’re facing foreclosure?
One of the more costly expenses that adults have is keeping a roof over their heads. Medical issues, a divorce or the loss of a job are some of the many factors that may jeopardize your ability to pay your monthly mortgage payment and leave you wondering if your...
Is a wave of foreclosures really coming?
With the economy in a recession and many people out of work, it’s clear that there could be a wave of foreclosures coming in the near future. While experts do not think it is going to be quite like what was seen back in 2008, in what is often called the “Great...
Don’t let your holiday spending lead you toward bankruptcy
Even if you know you’re tight on money, there’s something about the holiday season that’ll have you stretching your budget and hoping for the best once the calendar turns. Unfortunately, if you let your holiday spending get out of control, it’ll lead you down a dark...
Don’t let myths about bankruptcy make you avoid the help you need
Would bankruptcy help you? Would you be better off if you eliminated your debt with Chapter 7 or if you reorganized it with Chapter 13? Do you long to change your financial future, and do you think that bankruptcy is the best way to do it? And, if so, why haven’t you...
How long does a bankruptcy stay on your credit?
People who file for bankruptcy usually take this step because they need to take control of their financial situation. One of the questions that often comes up when a person is considering bankruptcy is how long the filing will likely remain on their credit report. ...
Can you use Chapter 7 or Chapter 13 for student loans?
As a student, you can’t help but watch your college debt mount. You’re still paying full price, even though many of your classes are just streaming online, from home. The job market doesn’t seem robust. You’re worried that you’re going to graduate with a debt that you...
Can bankruptcy can help you regain control when facing foreclosure?
When your income drops, your expenses probably stay the same, at least at first. While there may be opportunities to make changes to your lifestyle or your budget, you may find yourself unable to pay all of your bills. If your income dried up completely, you may have...