Bankruptcy helps stop collection activity and can help people eliminate some of the debts that prevent them from balancing their household budgets. Chapter 13 bankruptcy is a valuable option for those who earn a decent wage or who have substantial personal property....
Bankruptcy
What happens to my PayPal account when I file for bankruptcy?
These days, almost everybody has some method for sending or receiving money online – and PayPal has long been one of the most popular. A lot of people use their PayPal accounts for small transactions with friends and family and as a way to buy or sell things on sites...
Can bankruptcy wipe out tax debts?
Some people believe it’s possible to discharge tax debt by filing bankruptcy. While taxes may be discharged, you must meet specific requirements. Sometimes, income tax debts are eligible for discharge by filing Chapter 7 or 13 bankruptcy. It depends on how old the...
Coping with the emotional aspects of bankruptcy
The realization that you aren’t earning enough money to take care of all your credit obligations is one that’s serious. You may quickly determine that your goal is to get out from under all that debt. While some people may be able to do this by taking another job and...
How long will bankruptcy keep you from qualifying for credit?
The average person depends on credit to maintain their standard of living. Whether you need to buy a birthday gift when there's no wiggle room in your budget or you need to replace your vehicle unexpectedly, being able to qualify for credit is crucial. When you file...
What differs between judicial and non-judicial foreclosure?
When a homebuyer fails to keep up with their mortgage payments for whatever reason, the lender may foreclose on the property. A foreclosure happens when the mortgage lender takes over and sells the property to recover their money. If you are dealing with a potential...
A few things you should know about bankruptcy in Connecticut
A person who’s drowning in debt might wonder how they will ever be able to make ends meet. One answer for this is to file for bankruptcy protection, which gives you a fresh financial start. Connecticut laws set forth various points that you need to remember if you’re...
Can Chapter 13 bankruptcy stop a foreclosure?
Often, when people talk about foreclosure defense, they talk about Chapter 7 bankruptcy. Chapter 7 bankruptcy has an automatic stay and immediately pauses foreclosure actions. It helps people get out of unsecured debt and may allow them to catch up on missed payments...
What is the FRESH START Through Bankruptcy Act?
Even though millions of Americans are bogged down with student loan debt, it’s one of the relatively few types of debt that is usually not dischargeable in bankruptcy. Typically, a person has to prove that “undue hardship” is caused by the debt. Talk of student loan...
Filing for bankruptcy: You’re not even close to alone
People are sometimes a bit leery of filing for bankruptcy because they think that they're the only one doing it. It makes it feel like some sort of personal failure. They may know that they can run all the numbers and see that bankruptcy would seriously help them, but...