Latest on the Bankruptcy Blog

Wage garnishment is a court order that requires your employer to deduct money from your salary and wages. These garnished wages are then paid to a creditor. Wage garnishment orders can demand portions of your paycheck for resolving debts like spousal/child support, student loan debts or payments that may be part of a Chapter 13 repayment plan.  … Read more

A recent survey from Brigham Young University found that many small businesses are unaware of how bankruptcy may help save their business. A group of researchers from Brigham Young University, Harvard, University of Chicago and the University of Toronto teamed up to survey small business owners’ perceptions of bankruptcy. In short, they found that: 30%  … Read more

There is a misconception that filing for bankruptcy damages your credit and prevents you from securing credit in the future. Unfortunately, this is one of the most common excuses people have for not seeking debt relief help through bankruptcy. This misconception can do more harm than filing for bankruptcy in many cases, as it prevents people  … Read more

The last twelve months have been one of unexpected events and outcomes for many families. A turbulent economy, unexpected challenges in careers, and the loss of the comforting sense of status quo have all presented unique challenges to daily life. In times of uncertainty, it is more important than ever to keep a close hand on  … Read more

Medical debt is one of the leading reasons for people seeking debt relief through bankruptcy protection, according to experts. With the cost of health insurance premiums, copayments, and costs of prescriptions soaring in recent decades, many families are simply underinsured.  As people work to get themselves out of crushing medical debt, some lawmakers at the  … Read more

Until last week, the term “hedge fund” was used primarily by WallStreet traders and financial gurus. After the GameStop Hedge Fund fiasco last week, more people than ever are paying closer attention to the role these accredited investors play in trading and the stock market contribution to the economy. However, not all spotlight results in  … Read more

This week a struggling video game retailer, GameStop, has rewritten its story in the news media. It wasn’t but six month ago that news stories surrounding GameStop focused on their closing of some 800 nationwide stores amid the pandemic challenges; and possible upcoming Chapter 11 bankruptcy.  After a rollercoaster of a week in Wallstreet, the  … Read more

Many people seeking debt relief wonder whether to pursue Chapter 13 or  Chapter 7. One of the biggest differences between Chapter 7 and Chapter 13 cases is  a debt elimination or debt repayment. In a Chapter 13 debt repayment plan, your debts will be satisfied to creditors through a series of affordable monthly payments. A  … 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