Bankruptcy is difficult for anyone, but it is especially complicated for seniors, who might be reluctant to take such a step so late in life but might need to do so even more. This article explains the particularities of bankruptcy over the age of 60, including: The impact of Chapter 7 bankruptcy on social security benefits and retirement accounts. How…Read More
In this article, you will discover: Whether you can keep your truck when you file for bankruptcy. What debts an independent trucker can discharge in bankruptcy. Unique challenges independent truckers face in bankruptcy. Can I Keep My Truck If I File For Bankruptcy? Whether or not you can keep your truck will depend on multiple factors. For example, is there…Read More
Bankruptcy is not a simple process, nor one people embark on without seriously compelling reasons. This means that even the smallest mistake during the petition filing or preparation can have a massive impact on your bankruptcy outcome and debt situation. Keep reading to learn more about: The perils of failing to disclose certain assets or waiting too long to file.…Read More
Before you file for bankruptcy, you’ll likely want to know what type of bankruptcy to file for. The reality is that you have to meet certain requirements in order to file bankruptcy at all, and you may not be eligible for either Chapter 7 or Chapter 13. If you do happen to meet the requirements for both options, then the…Read More
by Brigitte Yuille (Originally posted on July 3, 2015 on Bankrate.com) You’ve filed for bankruptcy. Now it’s time to start rebuilding your credit. It will be hard to get credit at the start, but it won’t be impossible. The bankruptcy on your record means you will have to pay more to borrow money, since you’ll probably be considered a subprime…Read More
In recent months, bankruptcy attorneys and people considering bankruptcy have wondered how the new presidential administration might influence bankruptcy laws and the outcomes of personal bankruptcy petitions. We did, too. To gain perspective, we took a look at America First: A Budget Blueprint to Make America Great Again—produced by President Donald J. Trump’s Office of Management and Budget. The Blueprint…Read More
Bankruptcy provides relief to people weighed down by massive debt; however, it is not a free pass. During a bankruptcy, debtors may be required to liquidate their assets to repay creditors. Also, they can expect to lose access to existing commercial credit because credit card companies typically close accounts when notified that a bankruptcy is filed. And a debtor’s bankruptcy…Read More
Even before the advent of the credit card industry, pioneers, patriots and presidents alike found themselves in tough financial straits. According to Roland Gary Jones, Esq., author of Bankruptcies and Money Disasters of the Rich and Famous, Abraham Lincoln went bust running a grocery store before falling back on politics. Even as he ran for state Legislature, he was battling…Read More
I joined Bold Talk Business Radio talk show host Donna Anselmo for a live stream on TalkNetworkRadio.com Tuesday, February 15. We discussed issues on the minds of people dealing with debt, especially questions relating to bankruptcy. The interview will stream again today and Friday in the 1 PM EST time slot on TalkNetworkRadio.com, or you can listen to our discussion…Read More
When filing for bankruptcy on behalf of a client, an attorney must consider how to best protect the client’s assets. During bankruptcy proceedings, the court reviews the petitioner's assets to determine the debtor's ability to repay creditors. The court then may require sale of the debtor’s property to reimburse creditors and/or cover court costs. The degree to which property is…Read More
