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...
Chapter 7 Bankruptcy
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...
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 do you know when to file for bankruptcy?
Bankruptcy is an often-misunderstood process that sometimes leads to the perception that it won’t help consumers to file. It’s imperative that anyone who’s struggling to pay their bills explores the possibility of filing for bankruptcy because it might provide them...
Can Chapter 7 bankruptcy discharge all my debts?
There are many reasons a person in Bridgeport will file for Chapter 7 bankruptcy, also known as “liquidation bankruptcy.” A job loss in a tough economy, an unexpected illness that leads to overwhelming medical bills, or a divorce can all spell financial disaster....
How often can you file for bankruptcy?
Most people are able to come back stronger after filing a bankruptcy case and getting their debts under control, but not everyone is able to maintain the financial stability that they need. Whether it’s because of a medical emergency, job loss or other situation, a...
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...
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...
The difficulty of discharging student loans in bankruptcy
Some people in Connecticut may be struggling with substantial student loan debt. The total student loan debt nationwide is $1.59 trillion. Unfortunately, student loan debt is rarely dischargeable in bankruptcy. There are a few options for debt relief, particularly for...