Filing bankruptcy - Why planning at the right time is crucial?

Don’t have enough money to pay off your credit cards? Lost job or looking for a job? Unable to cover your household expenses? Dude, you’re in a big financial trouble. Let’s us talk about your options right now. You can opt for debt settlement provided you have a regular source of i... Read more

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Does it make sense to file bankruptcy due to identity theft?

It’s a sad but true story. - and if you've even been a victim of identity theft yourself, you’ll be able to relate. Jason was overwhelmed beyond words as he received a letter stating his son’s application for the second credit card. He had no idea about what was happening since his son was ... Read more

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The Automatic Stay - All that you need to know about this court injunction

As soon as you file bankruptcy, irrespective of what chapter you file under, the automatic stay goes into effect. It prohibits your creditors from taking any actions against you or your property but for a few specific circumstances. This stay is automatic, as the name suggests, and neither the court... Read more

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7 Reasons that compel you to opt for chapter 7 bankruptcy

If you see bankruptcy filing as the one and only way out of your debt dilemma, and if you are sure of doing it, the very next question that pops up is under which bankruptcy to file. For most people who are looking to file personal bankruptcy, the choice entirely ceases down to either Chapter 7 or C... Read more

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Best 5 ways to keep tax refund when filing bankruptcy

Tax season has arrived! Like every year, many people are looking forward to receiving a tax refund from the IRS. The tax refund is like a reward that people can use in many ways. But, if you're in major financial trouble and have filed bankruptcy, then that money can be the most valuable easy-to-l... Read more

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Chapter 13 exemptions - What nobody would ever tell you

Chapter 13 bankruptcy exemptions are like an ‘emergency window’ which gives you the last chance to legally save as much as you can when paying back unsecured creditors. Chapter 13 bankruptcy and 7 exemptions are same - Really? There is a big difference between Chapter 7 and Chapter 13 bankrupt... Read more

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Medical bankruptcy: The double whammy of cancer

Being bankrupt is a different ball game. By the look of it, you’re in a total financial mess, even though your cancer has been cured. Still, it’s a double whammy, where both your life and finances are at stake. That’s overwhelming. Health care costs are galloping. And so is the plight of a gr... Read more

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Will bankruptcy affect your 401(k) account?

The simple answer is NO! You have worked hard all your life to build a nest egg for your gray hair days. But now when you want to file bankruptcy, the thought of losing all your stockpile into the hands of cash-hungry creditors is horrifying. Bankruptcy does have some adverse effects, but that does... Read more

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Bankruptcy - Check out what documents you need to provide

Filing bankruptcy is itself a stressful situation. The situation worsens when you’re not aware where to start from. Since it is a legal process, you need to file it appropriately and for that you need to prepare certain documents. You might be thinking that it’s really a difficult process. Don't... Read more

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Should you be frank and forthright in bankruptcy?

The plain and simple answer is yes. It’s crime to make false claims in bankruptcy papers. Remember, bankruptcy is your last hope. If you lie to save your assets or for any other reason, then this last hope would also be lost. And, I’m not joking. Your bankruptcy case would be dismissed. You nee... Read more

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