Latest on the Bankruptcy Blog

When you file bankruptcy, most debts can be eliminated. Unsecured debts are usually eligible for discharge, credit cards, medical debt, utilities, payday loans, some taxes, and other loans that do not have collateral attached to them. There are certain exceptions that some of these types of debts cannot be discharged in bankruptcy. The types of  … Read more

According to the Federal Reserve Bank of  New York, it is estimated that a surprisingly large percentage of the population is deemed as “financially solvent”, or “broke”. It is estimated that almost 15% of Americans owe more in debt than have in valued assets.   As the economy continues its bumpy journey and the pandemic wages  … Read more

A recent decision in the Fifth Circuit Court can change the fate of private educational lenders. In Crocker v. Navient Solutions, the court upheld a decision by the Southern District of Texas that not all private educational loans are not exempt from discharge.   Two different cases resulted in student loans from Navient being discharged  … Read more

People file Chapter 13 bankruptcy when they have fallen behind in their secured debt, such as a home or vehicle, and want to keep the property. Chapter 13 requires a court-approved repayment plan to pay all or parts of your debts over some time, either three or five years, depending on the amount of debt  … Read more

If you think bankruptcy will serve your best interest, the first step is to speak to a bankruptcy attorney. Mistakes could cost you your property or thousands of dollars needlessly. Similar Experiences When you start in the process, you will want to speak to a bankruptcy attorney who has experience handling cases like yours, and  … Read more

When you file bankruptcy, every filer must complete a credit counseling course before submitting your paperwork with the court, and a debtor education course before your bankruptcy will be discharged. Credit Counselling: The “First” Course During the first required course, you will be counseled on your finances and explore alternative repayment options. You will go  … Read more