Emergency Bankruptcy Petition
What is an emergency bankruptcy petition? Does it apply to you? If you need quick relief from creditors, you might want to consider an emergency bankruptcy petition. Understanding the Emergency Bankruptcy Petition Emergency bankruptcy refers to getting bankruptcy protection without going through the full process of completing all the required forms. You might not have…
Keeping Your Home If You File Bankruptcy
Will you lose your home if you file for bankruptcy? A common concern for homeowners who are contemplating bankruptcy is whether they will lose their home. Know the Difference Between Chapter 7 and Chapter 13 Two common types of bankruptcy are Chapter 7 and Chapter 13 bankruptcy. Both will stop a foreclosure, but they are…
Understanding the COVID-19 Bankruptcy Relief Extension Act
The COVID-19 pandemic has had an extended impact on the U.S. economy. Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The law provided a wide variety of relief to individuals and businesses. It included several changes to federal bankruptcy law. Those changes were set to expire in March 2021, one year after…
How to Decide Which Chapter of Bankruptcy to Declare
If you are experiencing financial troubles, do not feel like you are out of options. Individuals may qualify to file for bankruptcy. The question is: which chapter of bankruptcy is right for you? Here is a short, helpful guide on the different types of bankruptcy and what to expect with each one. How to Decide…
Reasons Why You Should Hire a Bankruptcy Attorney
Filing for bankruptcy is a big step to eliminate debt. We realize it can be uncomfortable, but for some, it might be one of the only options to get back on your feet. If this is your situation, and you are unsure where to start, we suggest speaking with a bankruptcy attorney. Let’s go over…
What Happens if I Declare Bankruptcy?
Reaching a point where you feel financially out of control is challenging, but bankruptcy proceedings provide hope. If you are considering this step, knowing what to expect and how it might help you is crucial. From understanding the different types of consumer bankruptcy to knowing how bankruptcy will affect your financial well-being, this guide will…
How to Know If Your Business Is Bankrupt
There are a few ways to tell if your company is going to crash (low revenue and high costs are one). While these might be overwhelming, bankruptcy is an option for many businesses that can serve as a light at the end of the tunnel. While things have been hard, you are far from out…
Can Filing for Bankruptcy Stop Repossession?
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…
Should You Tell Creditors You Are Filing for Bankruptcy?
Should you tell your creditors you are filing for 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…
What Is Considered Disposable Income for Chapter 13?
When you file for bankruptcy, what is considered disposable income? No matter which chapter of bankruptcy you choose to file, 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,…