Bankruptcy Myths
Bankruptcy Myths Collection agencies and creditors will often allege that certain unsecured debts are no longer dischargeable in bankruptcy. These and other similar allegations made by debt collectors simply aren’t true. If you have debts that you need to discharge in bankruptcy, you should consult an attorney to learn more about your rights. Some people […]
Which Chapter of Bankruptcy Is Right For Me?
If you are considering filing for bankruptcy, then you may be aware that there are a few different types from which to choose. What you might not know is that, depending on your financial situation, you might not qualify for the type of bankruptcy that you are considering. The law provides restrictions on which form […]
Navigating Bankruptcy: Smart Approaches To Managing Loans And Debts
Consumer debt is at an all-time high. According to Experian, U.S. consumer debt grew by 6%, from $13.6 trillion in 2019 to $18.9 trillion in 2025, an increase of $4.6 trillion in 6 years. Being in debt is nothing to be ashamed of and has happened to many of us one way or the other. […]
What happens to mortgages in bankruptcy?
What happens to mortgages in bankruptcy? It depends on which chapter of bankruptcy you file under and what your intentions are. Chapter 7 If you file a chapter 7 and you want to keep the home, you will continue making payments as you normally would. However, you should be certain that your equity does not […]
Colorado First to Prohibit Medical Debt Credit Reporting
Medical debt credit reporting legislation signed into law in Colorado CO becomes the first state to prohibit medical debt information from being included on consumer credit reports and factored into credit scores, except under very narrow circumstances. The legislation is set to take effect in August of this year and will remain in effect until July […]
Assets you may lose in a chapter 7 bankruptcy
You will retain most assets Most cases are no asset cases meaning the trustee did not collect any money or liquidate any assets of the debtor. Although most debtors have some non-exempt assets, the value is often too low for a trustee to work with 20% of earned but unpaid wages at the time of […]
Choosing a bankruptcy lawyer
Bankruptcy is the legal process of discharging your debts (chapter 7) or reorganizing your finances (chapter 13). When done correctly, it can help you shed debt and achieve a fresh start. But bankruptcy is not something that you should go into lightly. If you are thinking about filing for bankruptcy, it is recommended you hire […]
Bankruptcy and Credit Card Debt
Credit card debt that you are unable to pay can have a devastating impact on your financial health. High interest rates and fees can turn a meager balance into a massive debt. If you cannot pay this balance, then you may face legal action and a garnishment of your wages. Chapter 7 Bankruptcy will discharge […]
Common Payday Loan Mistakes
Life is unpredictable. Our circumstances can change without warning and this includes our finances. You may find yourself in a situation where necessary expenditures exceed your income. This is where payday loans seem like the only alternative: you receive money and then pay it back with interest. There are a variety of loans available out […]
Converting from Chapter 7 to Chapter 13
Through the Bankruptcy Code, Congress established two main types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 is what most people think of when they hear the word “bankruptcy.” It is a type of liquidation. In Chapter 7, the debtor turns over most non-exempt assets to a trustee — the Chapter 7 trustee […]