Blog

Jan 28, 2021

What Is It? What Does It Protect You From? Can You Lose It? While a personal bankruptcy filing can allow you to permanently discharge certain debts (under Chapter 7) or restructure existing obligations to make them more affordable (under Chapter 13), one of the most attractive and powerful aspects of the law is the automatic stay that accompanies a bankruptcy filing. What Is the Automatic Stay? The automatic stay is a provision of the American...

Myths Surrounding a Personal Bankruptcy Filing

Jan 8, 2021

Dispelling Common Misperceptions If you’ve been hit hard by the pandemic—you’ve lost your job or your family business has collapsed—you may be considering personal bankruptcy in order to get a fresh start. If you’ve never considered bankruptcy before, you may have a number of inaccurate assumptions about the potential consequences of filing. Here are some of the common misunderstandings about the impact of bankruptcy. Bankruptcy Won’t Make All Your Debts Go Away Though you can...

Season’s Greetings and Happy New Year

Dec 25, 2020

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Filing for Bankruptcy Protection—How Long Should You Wait?

Dec 16, 2020

Is It Better to File Right Away or Try Other Options? If you’re struggling to make mortgage or rent payments because of the economic downturn caused by the coronavirus, you’re not alone. According to a recent report in The Washington Post, more than 12 million Americans are at least $5,000 behind in rent payments. You’re likely weary of the phone calls and letters from creditors, of trying to figure out how you’ll get caught up...

Can Bankruptcy Improve Your Chances of Getting Credit?

Dec 7, 2020

How Filing for Bankruptcy Can Make You a Better Credit Risk If you’ve suffered significant financial setbacks during the pandemic, or as the result of uncovered medical expenses, you may be reluctant to seek bankruptcy protection out of concern that it will make you less attractive to potential creditors. That’s not necessarily the case—in fact, bankruptcy often is seen by creditors as a positive step, and it’s been shown to lead to an increase in...

Protecting Home Equity in a Bankruptcy Proceeding

Dec 4, 2020

Make the Right Decision About Filing for Bankruptcy If you’ve been furloughed or laid off because of the coronavirus pandemic, or fear potential financial challenges as virus numbers resurge, you may worry about keeping a roof over your head. Can you use personal bankruptcy to keep your home? Can you file under Chapter 7 or Chapter 13? How does it work? Choosing the Appropriate Chapter It’s possible to file under either Chapter 7 or Chapter...

Happy Thanksgiving

Nov 26, 2020

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Factors to Consider When Contemplating Bankruptcy

Nov 7, 2020

Making the Right Decision about Filing for Bankruptcy Protection When you’re struggling to make ends meet, whether you’ve lost your job, incurred substantial medical bills or gone through a divorce, the relief available through a personal bankruptcy filing can be attractive. Before you file, though, you want to consider the following factors, so that you make the right decision about your future: A bankruptcy filing won’t necessarily relieve you of the obligation to pay creditors—There...

Filing for Bankruptcy Without Losing Your Property

Oct 28, 2020

Getting a Fresh Start Without Losing Everything You’ve lost your job because of the pandemic, or you’ve just gone through a divorce. Maybe you suffered an injury or illness and have considerable unreimbursed medical expenses. A personal bankruptcy filing may be appealing, but you can’t afford to lose your property. What are your options? Filing a Chapter 7 Petition For many debtors, a Chapter 7 liquidation is highly attractive, allowing you to permanently discharge certain...

Credit Counseling Prerequisite for Personal Bankruptcy Filing

Oct 15, 2020

Debtors Must Receive Counseling Prior to Bankruptcy Petition If you’re struggling to make ends meet because you’ve lost your job, incurred substantial out-of-pocket medical expenses, or gone through a divorce, you might consider bankruptcy filing as a way to get a fresh start. The daily stress may give you thoughts of contacting an attorney today and getting your petition filed tomorrow, but that’s unlikely to happen. First, your attorney will need to gather all relevant...