Many people believe that filing for bankruptcy worsens their financial position. However, this is not entirely true. While it is true that bankruptcy affects a person’s finances for some future years, in many cases, filing is the next best option. Here’s why:...
Chapter 7
Debunking Bankruptcy Myths
Filing for bankruptcy is scary. There is no denying that it can feel overwhelming and incredibly stressful, especially if you are not aware of the insolvency procedure and think that you are at risk of losing your entire life’s savings and belongings. Over the years,...
Bankruptcy Misunderstandings
Bankruptcy Doesn’t Mean Losing Any of Your Property When most people imagine bankruptcy, they think of one having to part ways with some or all of their assets to pay back creditors. It is because of this misunderstanding that many shy from taking advantage of...
Bankruptcy May Actually Help Your Credit Score
Meta Title: Bankruptcy May Actually Help Your Credit Score Meta Description: Wondering how filing for bankruptcy could help your credit score? You’d be surprised! Keywords: Filing for bankruptcy, credit score Bankruptcy May Actually Help Your Credit Score Bankruptcy...
Costly Mistakes to Avoid When Filing for Bankruptcy.
Bankruptcy can be a dreary experience. Should you want to rise from the ashes on top, we advise you to do a once over of what is not supposed to be done when filing for bankruptcy. Everybody wants to sneak in unscathed giving false records or hiding assets that would...
Bankruptcy Forms and What You Need to Know About Them
Filing for bankruptcy can be an arduous process. It is complicated in its technicality and can be confusing in certain places. It would help if you had assistance, whether or not you are recording under Chapters 7 or 13. Official US court sites give the official...
Your Student Loan Debt CAN be Discharged Through Bankruptcy
There has been long a perpetuating myth that student loan debt in America cannot be wiped out by declaring bankruptcy. The truth is quite the opposite. A court can grant you a discharge provided you can prove it is causing you ‘undue hardship’. Courts will use...
A Record Low in Bankruptcy Filings
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...
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...