People are sometimes wary of filing for bankruptcy because they know that they are going to have to liquidate some of their personal assets. If you file for Chapter 7 bankruptcy, for instance, some of your debt will be waived. But you may also need to sell off...
Bridgeport Law Blog
Situations where someone may file for bankruptcy
Bankruptcy can be an intimidating term for those who lack information about the process. There are many stereotypes surrounding the bankruptcy procedure. It can help to take a look at the different types of people who file and the types of situations where bankruptcy...
Out-of-network medical care could lead to bankruptcy
Medical debt is one of the top reasons why Americans file for bankruptcy every year. Even a single procedure could leave people with debt that they can never afford to pay off. Someone who has accumulated hundreds of thousands of dollars of medical bills may feel they...
3 so-called debt solutions that may push people into bankruptcy
Bankruptcy is one of the fastest and most thorough solutions that can effectively address significant personal debt. People can receive relief from collection efforts the same day they file. They can discharge certain eligible debts, eliminating the need to pay those...
Credit cards and bankruptcy have a complex relationship
Credit cards are used frequently in the United States. Recently, a new record was set when the total amount of credit card debt extended beyond $1 trillion. This is a new high point for Americans that has to do with both the growing population and the frequency of...
Is there a minimum amount of debt required to file for bankruptcy?
Bankruptcy offers a solution for those facing significant debt. However, before filing for bankruptcy, you must understand the process and requirements. Many people considering bankruptcy wonder, “Is there a minimum amount of debt required to file?” This is an...
Does bankruptcy really offer a fresh start?
Bankruptcy can indeed offer a fresh start for individuals overwhelmed by debt, but the process – and its aftermath – must be approached in specific ways in order to result in maximum benefits. As such, a filer’s approach to bankruptcy requires careful consideration...
Will your bankruptcy keep your child from going to college?
You’re overwhelmed with debt and considering filing for bankruptcy. However, you have a child who is approaching college age. You likely plan to rely on government-sponsored student loans to help cover the costs – perhaps in addition to any scholarships and grants...
How long does it take to complete a Chapter 13 bankruptcy?
An individual coping with significant financial hardship has several options available to them. Bankruptcy is one of the fastest and most effective ways of addressing high levels of personal debt. A successful bankruptcy filing leads to a discharge of someone's...
Will bankruptcy affect your job and employment opportunities?
If you are thinking of filing for bankruptcy, you may be concerned about the effect it may have on your job and future employment prospects. Will you get fired? Can it lead to difficulties in finding a new job? While these concerns are valid, the impact of bankruptcy...