Introduction to Alternatives to Bankruptcy Considering whether bankruptcy is an appropriate option for you is a complicated process and varies for each person. If you decide to declare bankruptcy, the process could affect more than just your credit. Declaring bankruptcy could affect your reputation and your own self image. Many people believe that going through […]
Introduction to What not to do Before Filing Bankruptcy When it comes to filing for bankruptcy, the court does not just look at the state of your financial affairs when you file for bankruptcy. The court will also look at recent financial activity including large purchases, financial transfers, and selectively repaying some loans over other […]
Introduction to The Benefits of an Attorney for Bankruptcy The American legal system is a complicated process, but it is not impossible to understand. Attorneys spend years in school learning about how the legal system works for both criminal and civil cases. The schooling requirements for attorneys is so extensive because attorneys are expected to have […]
Introduction to The Bankruptcy Trustee When an individual files for bankruptcy, the court will assign a person who is called the bankruptcy trustee. The bankruptcy trustee has an active role in both Chapter 7 bankruptcy and Chapter 13 bankruptcy cases. The bankruptcy trustee can be thought of as the middle man between the individual filing […]
Introduction to How to File Bankruptcy and What to Expect When it comes to financial distress, most people try to think about all the options they have to improve their situation. For some, that might be looking into other employment opportunities – or even second and third jobs. For others, it might be to […]
Introduction to Bankruptcy and the Elderly Financial hardship happens to the best of us. There is no age group that is safe from financial hardship. Despite any other factor, like age or education, bankruptcy is an option for everyone – even small and big businesses. One age group that has seen an increase in the […]
Introduction to Marijuana Dispensaries and Bankruptcy The right to file bankruptcy in the United States has been established in the United States Constitution, under Article I, Section 8, clause 4 – also known as the Bankruptcy Clause.[i] Historically, debtors in England were placed in jail and the founding fathers did not want that to be […]
What is Bankruptcy? Bankruptcy is typically reserved for individuals and companies that are going through a financial hardship and are overwhelmed with the financial obligations currently on their plate. There are a few different routes that a debtor can take to achieve an approved bankruptcy petition. There is Chapter 7 bankruptcy, Chapter 13 bankruptcy, and […]
Introduction to the Automatic Stay After a bankruptcy proceeding takes place, the debtor’s debts will be discharged and the debtor will no longer be financially liable for these debts. Granted, this will vary depending on the type of bankruptcy filed and the types of debts that the debtor has but overall the end result will […]
Introduction to Student Loans and Bankruptcy Student loan debt in America is at an all-time high – it has even started to surpass the current amount of credit card debt, which is a first for this country.[i] With that being said, it is no surprise that many students are looking for options to get out […]