Financial hardship is no laughing matter, and it is not rare either. Around 40% of American households are in debt, with millions of people struggling just to meet basic living costs. On top of that, you have medical debt, which is one of the leading causes of...
Bridgeport Law Blog
Going bankrupt doesn’t mean you are blameworthy
Bankruptcy is commonly viewed in a negative light. For those in a comfortable position financially, it may seem like an alien concept that only happens to those who have chosen to be reckless with their money. This is a misconception that is not based on real events....
Companies that offer debt solutions may make matters worse
Household debts often start small and build over time. You added a little to the balance on your credit cards every month while filling the gas tank and buying groceries. Now, you owe so much on your credit cards that you don't pay the balance off every month. In...
Does bankruptcy mean you can never buy a house?
Many people are hesitant to file for bankruptcy because they know that it will impact their credit score. What they believe is that they're going to be ineligible for loans in the future. This is concerning because they may have just been renting and hoping to buy a...
Can I stop a foreclosure by filing bankruptcy?
The last two years have brought about a lot of economic hardship. You may find yourself facing some serious financial problems that you never anticipated. You may even be facing foreclosure on your house. If you live in Connecticut, this can happen if you’ve missed...
Discharge isn’t guaranteed in bankruptcy
If you’re considering bankruptcy, you probably already know that the discharge of the bankruptcy is the final goal in the process. The discharge is the order from the bankruptcy court that will release you from liability for the debts that are dischargeable. Once the...
With bankruptcy and divorce in your future, which comes first?
If both bankruptcy and divorce seem to be in your future this year, it can be an overwhelming feeling. It’s not uncommon for people to be in this situation. Financial problems are one of the most serious sources of conflict in a marriage. The past couple of years...
3 steps to stop foreclosure
When properly managed, your home could be a lifetime investment. The money you pay each month toward your mortgage will help you accrue equity, and any repairs you make to the property or upgrades to its systems will increase the property value when you refinance or...
Will your bankruptcy affect your employability?
If you’re considering filing for bankruptcy, the last thing you want it to do is to affect your job – or your ability to find a job – either now or in the future. The good news is that it likely won’t affect your employability more than a poor credit score – which you...
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...