With the housing crash in 2008, many people found themselves “underwater” on their mortgages, which means the amount of the mortgage loan is higher than the value of the property that secures the mortgage. In addition, many people had taken out second or third mortgages because of low interest rates and the culture of spending … Continue reading What Is Lien Stripping?
Bankruptcy involves many different rules, procedures, and requirements throughout the process. You must be careful to meet all of the requirements and follow the rules in order to ensure you are granted a discharge by the bankruptcy court at the end of your case. Having the guidance of a skilled bankruptcy attorney is critical to … Continue reading 3 Things You Should NOT Do Before Filing For Bankruptcy
Many people hesitate to even consider filing for bankruptcy because they fear a bankruptcy on their credit report will destroy their future credit and financing prospects. Specifically, many people believe that it will be impossible to be approved for a mortgage to purchase a home if they have a bankruptcy in their past. However, you … Continue reading Buying a Home After Bankruptcy
Like all bankruptcy laws, the language surrounding the idea of an involuntary bankruptcy can be convoluted, and to many consumers, the fact that this concept even exists is a novel one. We hear an awful lot these days about individuals and groups filing bankruptcy, but very little about the idea of an ‘involuntary bankruptcy’, where … Continue reading What Is An Involuntary Bankruptcy
Running a business is challenging. In addition to meeting the production goals of the corporation, one must also stay current with payroll, pay the mortgage or lease agreement, and cover the costs and expenses necessary to run the business. Often, the money that is to be paid out exceeds the money that is coming in … Continue reading Bankruptcy Halts Judgments
Many households that may be facing financial difficulties have several different credit card accounts. While credit cards can get you into financial trouble due to high interest rates and ballooning balances, some credit cards can have benefits for your household. Certain accounts may offer rewards such as airline miles or cash back that can help … Continue reading Do I Really Have To List All of my Credit Cards in my Bankruptcy?
Get Out of and Stay Out of Debt Whether you are struggling with a mountain of debt or a more reasonable amount, your main financial goal is to get out of that debt, and then stay debt-free. One of the best ways to achieve this goal is through budgeting, and while it may sound obvious, … Continue reading Setting and Understanding Your Budget
Anyone who has ever before faced down a mountain of debt will know all too well the desperate feeling of being out of options. Truth be told, there are very few available to get out of debt: you can fully pay it off, settle for some smaller amount, or go ahead and file for bankruptcy. … Continue reading Settle Your Debts Using Outside the Box Tactics
Bankruptcy is often thought of as something for individuals with little income who have gotten themselves in debt, on the other end of the spectrum, corporations trying to navigate the twists and turns of the economy. However, there is another category of bankruptcy filers that has been increasing in recent years – Millennials. There are … Continue reading An Alarming Number of Millennials Are Filing For Bankruptcy