The decision to file for bankruptcy is, in most cases, not an easy one to make. Cases of people waiting until it's too late to declare bankruptcy have been reported. This usually leads to increased debt, further damage to credit, increased mental health issues and...
Bridgeport Law Blog
Can you file bankruptcy on a personal loan from a friend?
You may have relied on someone close to cover essential expenses such as electricity, rent or urgent medical needs. When credit runs out or lenders say no, a personal loan from a friend or relative often becomes the only option. Later, when the debt feels impossible...
4 mistakes that could lead to bankruptcy fraud charges
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...
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...

