Bankruptcy is often viewed as a personal failure—a mark of poor financial judgment or irresponsibility. In society, the word alone carries a stigma that conjures images of shame, ruined reputations and an end to future opportunities. Yet, paradoxically, bankruptcy...
Bridgeport Law Blog
What is a wildcard exemption in bankruptcy?
If you file for bankruptcy in Connecticut, there are many different exemptions to consider. With Chapter 7 bankruptcy, the goal is to liquidate your assets and use the money to pay off a portion of your debt. However, you can use exemptions to prevent the liquidation...
Will filing for bankruptcy affect my kids?
Filing for bankruptcy can feel overwhelming, especially if you have children at home. As a parent, it’s natural to worry about how this decision might affect them. The good news is that bankruptcy is designed to help families rebuild their finances, and it usually has...
How fast can a lender foreclose?
If you miss a single mortgage payment, you are technically in violation of your loan terms and considered to be in default. However, this doesn’t mean you need to worry about your lender immediately foreclosing on your house. Lenders generally don’t start the...
Practice wise financial planning after a personal bankruptcy
Once you get out from under crippling debt, the last thing you want is to find yourself struggling again. Proper financial planning in the wake of a Chapter 7 or 13 bankruptcy can make all the difference in your future economic health. Here are some financial planning...
Can I modify my repayment plan if circumstances change?
Pursuing a Chapter 13 bankruptcy is a way to take control of your finances by committing to a structured repayment plan. Still, as your circumstances change, you may need to revisit and revise this plan to achieve lasting debt relief. Does the law allow for this...
What are common defenses against foreclosure?
If you are facing foreclosure in Connecticut, you may have legal defenses you can use to challenge your lender’s action. With legal guidance, such defenses may help you keep your home. What are some of the most common defenses that can help you fight foreclosure?...
Overcoming medical debt with a personal bankruptcy filing
People can accrue medical debt for all kinds of reasons. Some people have medical emergencies when they don't have any kind of health insurance. Others may have high deductibles or coinsurance rates that leave them with major financial responsibilities after...
How Chapter 13 supports struggling sole proprietors
If you're a Bridgeport sole proprietor, you're likely feeling the squeeze as bankruptcy filings surge across the country. Recent data paints a stark picture. In July, the Administrative Office of the U.S. Courts released a report stating that overall bankruptcy...
Small mistakes can help homeowners fight foreclosure
There are many laws related to foreclosure that help to protect property owners. Lenders have a right to foreclose in specific scenarios but must follow the proper process to do so. Small deviations from established standards can provide homeowners with a defense...