What do you do when it becomes evident that your small business is failing? There are several reasons a business may fail, but some may be beyond your control. However, if your business is failing and your personal assets are at risk, then it may be time to shut...
Chapter 7 Bankruptcy
Can you keep jewelry during bankruptcy?
You want to declare Chapter 7 bankruptcy, but you know that that means you’ll have to liquidate some of your assets. This is concerning to you because you have jewelry that you would like to keep. You know that it’s valuable, but you don’t want to be forced to sell it...
How a secured credit card can help after bankruptcy
If you file for bankruptcy, you may find it difficult to get a traditional credit card right after that filing. You will likely be able to do so in the future, once you build your credit score back up, but lenders will be a bit wary if you have just filed. Don't...
What to know about debt discharge before filing for bankruptcy
A bankruptcy discharge releases you from certain types of debts. In short, provided you file for Chapter 7 bankruptcy, you are no longer legally obligated to pay any discharged debts. In addition, a discharge prohibits your creditors from taking any action on such...
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,...
Can Chapter 7 bankruptcy stop a creditor bank account levy?
In some cases, yes, bankruptcy can stop an account levy. However, it is wise to learn how bank account levies work in the first place, which can improve your state of mind. For example, your creditors cannot call your bank and demand to have your accounts frozen. As...
How can I get creditors to stop harassing me?
If you have significant debt, you more than likely already feel stressed about how you will pay off your debt. Your stress increases though when you get multiple calls from creditors each day. You may be more than tired of these creditor calls and want them to stop....
Should you declare bankruptcy to clear your student loans?
Student loan debt has doubled in the past decade. Currently, the total for the country sits at over $1.7 billion. If you have a share of that debt, things might seem pretty hopeless right now. The economic outlook is uncertain. The prospect of making enough to pay...
Will you lose your car in a Chapter 7 bankruptcy?
Chapter 7 bankruptcy can give you the fresh start that you deserve when your debts are overwhelming -- but many people are very afraid of the process because they've heard exaggerated horror stories about what bankruptcy is like. One of the biggest questions people...
Debt collection goes digital in 2021
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...