Category Archives: Bankruptcy
Can I File Chapter 13 Bankruptcy if I’m Unemployed?
Chapter 7 and Chapter 13 bankruptcies offer different benefits. Chapter 7 is generally reserved for low-income debtors who have significant unsecured debt, such as credit card debt, medical debt, personal loans, and old taxes. Through Chapter 7, debtors are able to “discharge” or wipe out certain types of debts. Meanwhile, Chapter 13 is a… Read More »
Amid COVID-19, Florida Governor Suspends Foreclosures
Since President Donald Trump declared a national emergency due to COVID-19, Americans’ lives have been turned upside-down. Schools have been closed and students switched to online learning. Businesses everywhere have shut down. Concerts, conventions, and events have been canceled, and even movie theatres have closed their doors. As a result, millions of Americans have… Read More »
What Happens to Debt When Someone Dies?
If you’re like most people, you don’t enjoy contemplating your own mortality. In fact, this is such a sensitive subject that a lot of people, including high-net-worth individuals, never create an estate plan. But have you ever wondered about your debt and what would happen to it if you died? If you’re married, would… Read More »
Can You File Bankruptcy if You’re Unemployed?
If you’re unemployed and having a hard time paying your monthly bills, you may be considering bankruptcy and reasonably so. But you may also be wondering if you can file for bankruptcy when you’re unemployed. Will unemployment be a problem? It depends on the type of bankruptcy you’re interested in. Generally, if you file… Read More »
Can Child Support Be Discharged in Bankruptcy?
“Sometimes it’s difficult to collect past-due child support, especially when those amounts reach into the tens of thousands of dollars. The average amount owed among noncustodial parents with child support debt is more than $21,000,” according to the Office of Child Support Enforcement. If you can relate to the above paragraph because you too… Read More »
How Will Filing Bankruptcy Separately Affect My Spouse?
If your financial obligations become overwhelming and you have a high amount of debt you might consider filing for bankruptcy, which may offer financial relief. One factor you might be thinking about when deciding on taking this legal step is how the action will affect your spouse and their finances. Deciding How to File… Read More »
What Happens if You Voluntarily Pay Discharged Debt?
When you file for bankruptcy, some of your debts can be discharged. That means you’re not liable for paying the remaining balance on specific loans. Additionally, creditors and/or lenders are prohibited from attempting to collect on the balance or taking legal action against you to recover funds. Although you are no longer obligated to… Read More »
Does Wage Garnishment Affect Employment?
If an individual falls behind in payments to a creditor, the company could take legal action to force them to repay the amount owed. One way they can achieve this is by requesting the court to issue a wage garnishment order, which requires that their employer withhold a certain amount of their paycheck. The… Read More »
Can I Make Large Purchases Before or After Filing for Bankruptcy?
Bankruptcy is a debt relief option that can stop creditors from taking action against you if you are delinquent on loans. When you file for bankruptcy, most of your debt is discharged or wiped out. If you want to make purchases before or after filing, it could affect the process or result in more… Read More »
What Is a Bankruptcy Reaffirmation Agreement?
After a debtor’s Chapter 7 bankruptcy case is completed, most of their debts will be discharged. That means the debtor will not be required to make payments and the creditor cannot take action to collect on unpaid loan balances. Reaffirming Debt to Keep Property In cases where the debtor had a secured loan –… Read More »
