How Much Debt Do I Need to Have in Order to File Bankruptcy?

Bankruptcy

All of us go through financial highs and lows throughout our lifetime. But when a low financial period begins to take over your life, you may find yourself considering bankruptcy. When people consider this option, one of the first questions they ask themselves is, “How much debt do I have to be in before bankruptcy…

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Bankruptcy Options for the Self-Employed

Bankruptcy
bankruptcy8_600x400_preview

Pondering the possibility of filing bankruptcy is never a pleasant thing. If you are at the point of considering this, you’ve likely already gone through an extended period of financial turmoil. It is difficult to make wise decisions after enduring a stressful financial setback, and this is especially true if you own your own business…

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Will Bankruptcy Protect Me from a Lawsuit?

Bankruptcy

Being sued is likely on everyone’s list of things they hope never happens to them. Opening an envelope and seeing a document that informs you someone has sued you can be an incredibly anxiety-producing moment – even more so if your financial situation was dire before the lawsuit arrived. So what do you do now?…

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How the Coronavirus Pandemic Might Affect Your Finances

Bankruptcy

In America and across the globe, we currently find ourselves in an unprecedented time. The global pandemic COVID-19 has affected almost everyone in one way or another. It has impacted health, obviously. And for many, this is understandably the most urgent and pressing concern presented by the virus. Beyond its health impacts, however, it has…

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Can Filing for Bankruptcy Stop Repossession?

Bankruptcy
bankruptcy8_600x400_preview

Filing for bankruptcy may stop repossession, but it depends on the type of bankruptcy you file and how far into the repossession you are. If you are being threatened with repossession and you want to keep your vehicle, speak with a bankruptcy attorney immediately. The sooner you file for bankruptcy, the easier it might be…

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Should You Tell Creditors You Are Filing for Bankruptcy?

Bankruptcy
Chapter 7 bankruptcy

While you can tell creditors you are filing bankruptcy, doing so may not stop them from continuing to call and try to collect on a past due debt. The only way to stop them from harassing you for payment, legally, is to file for bankruptcy and receive your automatic stay. Also, telling a creditor you…

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What Is Considered Disposable Income for Chapter 13?

Bankruptcy
gavel and wallet

When you file for bankruptcy, no matter which option you choose, the courts look at your disposable income and compare it to your monthly debt obligations. Disposable income is that which you can use to pay down debts, and if you have too much disposable income, the court might deny your request for Chapter 7….

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What Debts Are Not Dischargeable in Bankruptcy?

Bankruptcy
bankruptcy

October 10, 2019 One common misconception among consumers is that you can discharge all debts and be 100 percent debt-free if you file for Chapter 7 bankruptcy. While you could discharge a vast majority of your debtors, the belief that you can remove 100 percent of them is untrue. There are a vast number of…

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