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...
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...
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...
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...
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...
Whether you have a bank loan, a credit card loan, or even an unpaid medical bill, living with excessive debt can be risky. While we all have taken some debt at a given moment, it is necessary to keep track of everything that you owe. If not, you might find yourself in...
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...
Bankruptcy is one of the most challenging options that one can only choose if the situation does not allow any other possible way. While there can be various kinds of bankruptcies, when we talk about this year, the first thing that comes to mind is business...
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...
Declaring bankruptcy has significant effects on a public company, including severe consequences for its investors. This decision is often derived from cripple debt that the public company cannot pay back under the current terms of agreements. Hence, declaring...