Mark Zocher

divorcing sad woman and man

What Happens to a Jointly Owned Home in Bankruptcy?

The joint-owned property, such as that owned by a married couple, can affect how a bankruptcy is completed. If one spouse is going to file for bankruptcy, but there are assets in both of your names, it is imperative you speak with an attorney about these properties; especially when it comes to the family home….

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depressed man and bankruptcy form

5 Steps to Bankruptcy Planning

If you are considering bankruptcy, planning is essential. The actions you take, weeks and even months before you file, could dramatically impact the outcome of your case. Regardless of how bad your financial situation is, the more steps you take ahead of time, the better the outcome will be for your case – and the…

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credit card debt

Credit Card Debt is Your Worst Enemy: 3 Ways to Defeat It

Credit card debt plagues millions of American consumers each year. In fact, the average American household in 2021  has $155,622 in debts. Those with credit cards had an average balance of more than $6,000 in 2021. Once credit cards can run your monthly budget, you might find that you are paying only the minimum and…

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bankruptcy

7 Steps to a Successful Bankruptcy

When you find yourself over your head with debt, and you can no longer meet your payment obligations, you might look to bankruptcy. Bankruptcy is a legal remedy for consumers who need a fresh start and relief from creditors and collection agencies. However, it is a serious financial decision that will impact your financial health…

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second bankruptcy

How to Avoid Filing a Second Bankruptcy in the Future

No one goes through life expecting to file bankruptcy. However, it happens for some consumers. Whether it is a medical emergency, job loss, or another incident that forces you to fall behind and eventually seek help from the courts, bankruptcy is there for consumers who cannot satisfy obligations. Unfortunately, some consumers end up filing bankruptcy…

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10 signs of bankruptcy

Warning Signs that Bankruptcy is on the Horizon for You

No one goes through life expecting to file bankruptcy, but it happens. Sometimes, the warning signs are clear, while other times they are not so obvious. Regardless of your financial situation – or what you assume it will be like in the future – it is imperative that you know the warning signs of bankruptcy….

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IRS 1040 form

Will My Tax Refund be Affected by My Bankruptcy Case?

It is tax season, which means that you are probably anxiously awaiting your tax refund check. But, if you are in the process of bankruptcy, or if you have filed bankruptcy and you are in the repayment process, you might wonder what happens to your federal or state tax returns. If you have filed Chapter…

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car keys on top of money

Can You Lower a Car Payment in Bankruptcy?

You file for bankruptcy because you can no longer manage your debts. Whether it is because you lost your job or took a significant cut in pay, you need to eliminate monthly debt obligations to get back on your feet. But you need to keep your car. It is how you take the kids to…

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bankruptcy home foreclosure

Will Bankruptcy Save My Home from Foreclosure?

Will bankruptcy save your home from foreclosure? Most homeowners facing bankruptcy are worried about one thing — the family home. Are you significantly behind on mortgage payments and struggling to meet debt obligations? If your mortgage lender is threatening to foreclose, bankruptcy might be your only option. With the protections of bankruptcy, you could prevent…

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Bankruptcy Law

Insolvency Versus Bankruptcy: What is the Difference?

Insolvency and bankruptcy are often confused. While both apply to a business struggling to pay its obligations, each has different processes and outcomes. What is Insolvency? Insolvency is considered a financial status. It means that a business cannot promptly pay its obligations. According to the Internal Revenue Service (IRS), a business is insolvent when the…

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