Many people fear bankruptcy because of the numerous misconceptions about the process. Although no one wants to be in the financial position to need bankruptcy, it can actually provide many great benefits for those who file. Credit Collections One of the  most immediate and sought after benefits of bankruptcy is the relief from creditors is  … Read more

The current Los Angeles Dodgers owner, Frank McCourt officially put the team up for sale last month as financial pressures became too much for the team to handle. The Dodgers have suffered from public relations problems and attendance slowdowns for years, both resulting in drastic profit loss for the franchise. Dallas billionaire and sports team  … Read more

A tricky issue in bankruptcy is the issue of inheritance money. If you inherit money and then file for bankruptcy, there is no guarantee that money will be protected. The same is true if you inherit money after a bankruptcy filing. However, this does not mean that a person should shy away from filing for  … Read more

There are times in which you may be court ordered to pay money to another individual or entity for one reason or another.  These payments are generally not disruptive to a person’s financial  life, unless they end up experiencing a financial hardship. If you have court ordered payments, you may not be able to resolve  … Read more

When people think of bankruptcy they tend to envision someone who has struggled with finances for years, probably makes minimum wage or has trouble keeping a job. The truth is, bankruptcy filings have hit nearly every demographic and is not just for the underemployed or uneducated. Many college graduates, corporate leaders and the average middle  … Read more

Not everyone is aware of the actions that may be considered bankruptcy fraud. In fact, there is a lot of confusion as to what is considered fraudulent and how it can be avoided. However, in the case of transferring assets the line becomes even more blurred for many people. In general, it is best to  … Read more

A common question people ask is whether they can file for bankruptcy if they receive Social Security benefits. People who receive government assistance checks are just as eligible for bankruptcy as the next person. Bankruptcy is a process designed to help anyone in serious financial trouble resolve their debt troubles and obtain a fresh start  … Read more

Successfully completing the bankruptcy process is not inherently difficult. However, there are  many requirements and several steps that must be completed correctly in order to obtain a debt discharge. It isn’t uncommon for people to end up having their case dismissed simply because they missed a single step in the process. This is more common  … Read more

The number of Texas bankruptcy filings increased last month, up  nearly 13 percent from this time last year. However, it is only one of four months this year to have shown this trend, suggesting the remaining months were comparable or less than last year’s filing numbers. The number of Chapter 7 and Chapter 11 business  … Read more

Everyone’s financial situation is different, which means that every bankruptcy case is different. With such variability in financial troubles, no two people will face the same benefits or risks associated with a particular type of bankruptcy. Therefore, there are a few things to consider before deciding which type of bankruptcy is best for you. Chapter  … Read more