Despite the economic uncertainty brought by the pandemic this year, paradoxically, the number of bankruptcy filings in the country hit a new 14-year record low this November. According to data released by the legal giant, Epiq, new bankruptcy filings across all...
Chapter 13
What is a 2004 Examination in Bankruptcy?
In a bankruptcy case, you are required by the court to reveal all information that is deemed necessary. This includes all your debts, assets, income, expenses, etc. In addition, you will be required to attend a 341 meeting, where your creditors will ask you further...
What to Expect if You Get Sued for Debt
It is not necessary that you only get sued for a loan that you remember. There can be a case where you get a legal notice for a long-forgotten debt, which is still left unattended. For such scenarios, you should know what to do if someone sues you. Hence, we have...
Student Loans and Bankruptcy
When someone considers the option of going bankrupt, they are definitely in the most difficult situation and they cannot pay off their debts. However, when it comes to student loans, we have often heard that it cannot be discharged through this process. Well, it is...
The What, When, Why – Chapter 7 and Chapter 13 Bankruptcy
Chapter 7 and Chapter 13 are two common bankruptcy programs available to individuals to discharge their debts. If you ever got confused between the two, here is a quick what, when, and why to help you learn their differences. What is Chapter 7 Bankruptcy? Chapter 7...
CARES Act and Chapter 13 Bankruptcy
In March of this year, in response to the impending economic downturn, the US government passed the CARES Act. Beyond the massive $2 trillion dollar stimulus package, the Act has allowed for a number of different changes to existing laws to make it easier for both...
4 Quick Tips to Regaining Your Financial Health After Bankruptcy
A bankruptcy discharge can definitely hurt your credit score, but nonetheless, without the burden of your past debts, you can find it much easier to regain your financial health. 1. Plan a Budget Budget planning is central to effective money management. On a...
Payday Loans and Bankruptcy
Payday loans, also commonly known as cash advances, check advances, or paycheck advances, may seem like an appealing option to those falling behind on their bills. However, when people start to rely heavily on payday loans, they can get stuck in a pattern and end up...
Have You Ever Wondered Who Pays for Bankruptcies?
If you are a debtor who is out of options and is now thinking of going bankrupt, it might be the right way to go for you. However, if you are an investor, a personal creditor, either secured or unsecured, the situation for you will be very different if one of your...
Planning for Chapter 7 Bankruptcy – 5 Quick & Helpful Tips
1. Any debt incurred after the bankruptcy filing date does not qualify as part of your discharge. Therefore, it is best to file when one is sure that they are reasonably sure that they won’t be incurring any further unmanageable expenses while during and after the...