While bankruptcy can offer financial relief, it also demands complete honesty. The process relies on accurate reporting of your income, assets and past transactions. Any misstep, even unintentional, could raise red flags during a trustee’s review. What may seem like a...
Bridgeport Law Blog
Connecticut has specific bankruptcy exemptions
People who file for bankruptcy in Connecticut have likely thought about the total financial picture before they made the decision to file. For some, one of the primary questions revolves around what will happen to the assets they’ve worked hard to obtain. If this is a...
Prepare for the emotions that come with bankruptcy
The time leading up to bankruptcy is often one that’s filled with stress and anxiety because of the attempts debt collectors make to get money from you. Those attempts are often a reminder that you’re on a shoestring budget and don’t have the ability to make those...
4 tips to avoid losing your home when facing foreclosure
Falling behind on mortgage payments can feel overwhelming. As the debt piles up, so does the pressure from lenders. The risk of foreclosure becomes more real with each passing notice, creating stress and uncertainty about your future. Foreclosure does not happen...
Will filing for bankruptcy affect my tax obligations?
If you are thinking about filing for bankruptcy, understanding how different types of bankruptcy can impact your tax responsibilities can help you to make informed decisions about your debt relief options. When you file for bankruptcy, an automatic stay goes into...
Can I file for bankruptcy without informing my spouse?
Filing for bankruptcy is a significant financial decision, especially when you are married. While you might consider filing on your own to protect your spouse or handle personal debt, it raises the question of whether you are allowed to do so without informing them....
Why is the automatic stay important in bankruptcy cases?
One of the most disheartening things that a person who’s in debt has to deal with is the collection attempts by creditors. Those attempts are often difficult to deal with because the person can’t just come up with more money when the creditor demands it. It can often...
When can you file for bankruptcy again?
Bankruptcy can help people handle overwhelming medical debt, credit card debt and personal loans. After people file for bankruptcy, they can find relief from their financial obligations after just a few months or years, depending on whether they filed for Chapter 7 or...
When do missed payments put homes at risk of foreclosure?
People experiencing temporary financial hardship may start to become quite anxious if they miss a mortgage payment. After all, the home where they live serves as the collateral for the mortgage, and it could be vulnerable at any point until they pay off the loan. Most...
Why do some people facing foreclosure file for personal bankruptcy?
Foreclosure is one of the worst possible outcomes after investing in real estate. People who have spent years making payments toward a mortgage could lose their homes because of temporary financial hardship. Those concerned about their financial circumstances...

