5 Reasons You Should NOT Declare Bankruptcy
Bankruptcy is not for everyone. While it can change your financial situation and get you out of debt, it does come at a cost. Below, we will explore a few reasons why you should not declare bankruptcy. This will give you some things to consider before filing. 5 Reasons You Should NOT Declare Bankruptcy…
What to Expect at the Bankruptcy Meeting of Creditors
When going through a bankruptcy in the state of Washington, Section 341 of the Bankruptcy Code requires that you attend what is known as a Meeting of Creditors. We commonly refer to this as a “creditor’s meeting” or a “341 meeting.” Traditionally, these meetings are held in-person at locations based upon where the business or…
Why Does Gift or Loan Matter for Bankruptcy?
When people give each other money, we can consider it a gift or a loan. And if you are considering filing for bankruptcy now or in the near future, you must take any loans or gifts into consideration. Why? Because when the gift was given, and whether it properly qualifies as a gift or a…
What Bankruptcy Can and Cannot Do
Financial stresses are a fact of life for many people, so if you find yourself in this situation, you are certainly not alone. When life happens and finances tighten for whatever reason, you may find yourself unable to pay all of your monthly bills despite your best efforts to make ends meet. When the situation…
How Will Filing Bankruptcy Affect My Children?
The decision to file for bankruptcy is a momentous one. If you are considering seeking relief through bankruptcy, you have likely been experiencing stress for some time now. Constant hounding from creditors can sour even the most optimistic among us, and if it can do that to us, you might find yourself wondering if it’s…
Will Bankruptcy Get Rid of Lawsuit Judgments?
As you make your way through life learning to juggle many balls at once – family, work, play, money – sometimes you drop a ball. And when that ball is your financial health, if you are like most people, you will start looking for solutions as soon as you hear the thud. Solutions can come…
How Much Debt Do I Need to Have in Order to File 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…
Bankruptcy Options for the Self-Employed
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…
Will Bankruptcy Protect Me from a Lawsuit?
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?…
How the Coronavirus Pandemic Might Affect Your Finances
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…