Bankruptcy is a process that lots of people think they know well. It seems straightforward. However, misconceptions about bankruptcy mean that you could miss out on the benefits it offers. For instance, it seems counterintuitive, but did you know that declaring...
Bridgeport Law Blog
What are some advantages to filing for Chapter 13 bankruptcy?
Financial hard times can fall on just about anyone in Bridgeport. A job loss in a tough economy, a mortgage that is underwater or an illness that leads to massive medical bills can all spell financial catastrophe. In these situations, a person in Connecticut may...
How can an attorney help with a loan modification?
Many Connecticut residents may find themselves either behind in their mortgage payments or struggling to keep up with them. Any number of unexpected circumstances can make it hard to keep up on home payment, including job losses, business troubles or medical and...
The importance of the chain of title in a foreclosure defense
Many people buy homes in Connecticut with the intention of staying in the house for many years. Usually people receive the funding to buy the homes by obtaining a mortgage from a bank. At the time of the purchase people probably have a good understanding of their...
CARES Act brings special provision for those considering and undergoing bankruptcy
On March 26, 2020 the Coronavirus Aid, Relief And Economic Security Act (CARES Act) was signed into law. This act contains many provisions to ease the financial burden Americans are facing. These provisions include both direct financial relief and policy changes. Most...
Understand the benefits and types of bankruptcy
One of the most disheartening things that you might have to deal with when you can't afford to pay your bills is explaining to your creditors what's happening. Some might pressure you into finding a way to pay them, but it might not be possible for you to do that....
Chapter 7 bankruptcy can help you stop wage garnishment
Some collection agents are ruthless when it comes to getting the money they say you owe. If they put the pressure on you and aren't able to get payments, they might choose to turn to the court to get an order for collection. This means that they will take money...
Study looks at bankruptcy effects on employment
People in Connecticut who are considering bankruptcy might be concerned that it will have a permanent effect on their credit and even on their job prospects. However, a study that will appear in the Journal of Finance has found that this is not the case. The study...
Bankruptcy may provide protection from debt collectors
Some debtors in Connecticut may decide to file for bankruptcy after facing collection calls, lawsuit threats and other actions taken by creditors to. When a bankruptcy petition is issued, an automatic stay that halts all efforts to collect existing debts is initiated....
Eligibility criteria in a Chapter 7 case
Individuals who are unable to meet their debt obligations may be able to have their debts discharged through a liquidation bankruptcy. As the process implies, assets might be liquidated in an effort to raise money to pay off outstanding loan balances. Those who file...