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When is the Best Time of Year to File Bankruptcy?

A common question for people in debt is when they should file for Chapter 7 bankruptcy. Often, filing for bankruptcy cannot wait for a specific time of year, as it often comes after a major, surprising life event such as unexpected medical bills. There are, however, a few ways you can time your bankruptcy to… Read More »

Can I File for Bankruptcy if I’m Unemployed?

The stress of being in debt is exacerbated if you are also unemployed. How can you repay your loans if you don’t have a steady income? Don’t worry – you still have options. You don’t have to be employed to file for bankruptcy. You can still file without having a job, although it may complicate… Read More »

Wiping Out Lawsuit Judgments with Bankruptcy

The only thing worse than having a debt in collections may be having a debt that’s become a judgment.    A judgment is a court decision that allows a creditor or debt collector to take legal steps to collect payment from a delinquent debtor. This can include freezing your bank account, garnishing your wages, and… Read More »

Can Bankruptcy Stop Creditors from Garnishing Wages?

From plummeting credit scores to harassment from bill collectors, there are many drawbacks to falling behind on debt payments. But perhaps none are as frustrating as wage garnishment. If you are delinquent on debts, creditors and debt collectors may be able to get a court order demanding that your employer garnish wages from your paycheck… Read More »

What happens to a cosigner when the borrower files for bankruptcy?

Most people have the best of intentions when they ask a loved one to cosign a loan. But what happens when a well-meaning borrower can no longer afford to make loan payments? All too often, co-signers bear the burden when a family member defaults on a debt. It’s hard to say no when a child,… Read More »

Bankruptcy May Help Indebted Workers Save for Retirement

Could the days be over when reaching retirement age means actually being able to retire? A new survey seems to indicate so. Almost one third, or 31 percent, of adults in the U.S. say they have no savings or pensions as they approach retirement. As if that isn’t worrisome enough, nearly 20 percent of those… Read More »

As More Elderly Americans Find Themselves with Large Debts, Many Turn to Bankruptcy

For years, it was rare to find an elderly American with debt, as those old enough to remember the Great Depression were usually very wary of credit. It was even less likely to find a retiree filing for bankruptcy. But all that may be changing. Seniors 65 years and older are the fastest growing portion… Read More »

Getting Married? If You’re Drowning in Debt, You May Want to File Bankruptcy Before You Tie the Knot

If you’re getting married, you’re probably looking forward to starting a new life with your soon-to-be spouse. But if you have a lot of debt, keep in mind that you’ll also be bringing some not-so-great aspects of your old life into your marriage. If your financial situation warrants filing for bankruptcy, it’s advisable to do… Read More »

Personal Bankruptcies Surge in 2014 As Consumers Struggle with Rising Costs, Falling Incomes

Are tough economic times really over? Recent bankruptcy statistics seem to indicate otherwise. Personal bankruptcy filings in the U.S. are up a whopping 30 percent over last year, according to a recent study by the National Bankruptcy Research Center. Financial experts point to increasing debt, declining home values and a rise in overall living costs… Read More »

How Much Debt Should You Have Before Filing for Bankruptcy?

One of the questions our bankruptcy attorneys hear quite often is whether there’s a certain amount of debt a debtor must accumulate before filing for bankruptcy. The truth is that there is no magic number. We’ve seen clients successfully file for bankruptcy for $10,000 debts and $100,000 debts – and everything in between. It’s up… Read More »