If you have ever faced problems with debt, you know just how inviting all of the relief options can be. There are numerous options for getting out of debt, each with their own benefits and risks. When it comes to debt relief, not all results are created equal. Some debt relief results may not be  … Read more

The word bankruptcy often brings feelings of fear and thoughts of failure. Many people assume that the bankruptcy process is simply a punishment for struggling with finances. Fortunately, that is a lie. The truth is, most people who seek bankruptcy are there through little fault of their own. Family are obligations, medical illness and job  … Read more

You may have heard that filing for bankruptcy is bad because it will liquidate all your assets. This is false. Although there are some instances in which some of your income or assets could be used to pay debts to creditors as part of your bankruptcy filing; they won’t take everything you have. In fact,  … Read more

The means test is a two-part calculation that determines whether a debtor is eligible to file a Chapter 7 bankruptcy or a Chapter 13. If the debtor is not eligible for a Chapter 7 the means test will calculate the disposable income available to repay creditors in a Chapter 13 bankruptcy. The means test is  … Read more

Most people ignore their finances until a problem arises.  While some may experience financial hardship that builds up over time, some simply fall into hard times unexpectedly. Although how you end up in debt is not important, one thing that is important is finding a solution quickly. If you are seeking debt relief help or  … Read more

The bankruptcy process is designed to be a protection for consumers. However, due to the complex, legal nature of the process there are some strict rules and requirements to note for anyone considering filing. Many of these restrictions have very little effect on the common consumer, but understanding some of the basics can better protect  … Read more

The means test helps decide whether a person or household qualifies for debt forgiveness or financial benefits. The means test considers your expenses, monetary resources, income, and size of your family in determining whether one has disposable income enough to pay back debts. A bankruptcy means test also determines who is eligible to get their  … Read more

An automatic stay also referred to as a stay, is an automatic injunction that stops creditors, with certain exceptions, from starting or continuing to take actions against a debtor who has filed for bankruptcy. This injunction is especially useful when the debtor is at the risk of being foreclosed on, being evicted, losing basic resources  … Read more

It is essential to hire a bankruptcy lawyer when filing for bankruptcy. A bankruptcy on its own is a complicated process, and you do not want to go through this alone. Understandably, you are struggling for funds, which could tempt you to become a DIY attorney or go for just any kind of attorney. However,  … Read more

Bankruptcy is a legal process that gives you the chance to discharge your qualifying debts. Deciding to file for bankruptcy is a big step to take. You are faced with multiple things to consider – you have to understand what bankruptcy may (or may not) do for you. You have to evaluate your options and  … Read more