In most states in the United States, bankruptcy filers are allowed to exempt a certain amount of their assets from being distributed to creditors and debtors. In some cases, if the filer has no property that he or she is allowed to exempt, the Bankruptcy Code allows for him or her to select non-exempt property […]
Bankruptcy can knock you flat while you’re trying to move forward. For example, you take out a student loan or other credit that you can’t pay, and suddenly you are forced to declare bankruptcy. Well, for starters, what is bankruptcy? Bankruptcy is a state of insolvency in which an individual or organization cannot repay their […]
Looking into Bankruptcy Chapters 7 and 13 In general, a bankruptcy filing can open doors to a fresh start in life and opportunities to rebuild your financial future. It can help debtors repay their debts to creditors, albeit through different ways. Due to the continuous effects of the pandemic to the economy, many families […]
Homeowners who are behind on their mortgage might be willing to consider just about any legal way to get out of that debt. This is especially true if they know that they won’t be able to catch up on the mortgage but they don’t want a foreclosure to plague them. One option that some people […]
In theory, annual child support payments in the United States are supposed to total more than $33 billion. However, in reality, fewer than half of custodial parents receive full child support payments based upon a court order or informal agreement. The consequences for not paying child support can be severe. You may have to pay […]
One reason people are sometimes slow to file for Chapter 7 bankruptcy is that they know it means they have to liquidate their assets. They believe this means they’ll lose everything they own, which sounds worse than having debt they can’t afford to pay off. But is this what will happen? Do you really have […]
To be certain, bankruptcy can happen to anyone. They can be any age, any gender and from any economic background. After all, bankruptcy normally comes from medical debt in the United States, and anyone can experience an unexpected injury that puts them in the hospital. However, it is important to consider who files for bankruptcy […]