Monthly Archives: May 2020
Why You Must Attend the 341 Meeting of the Creditors
If you make the decision to file for bankruptcy, there are certain obligations that must be met in order to receive the financial fresh start you are requesting. Proper paperwork must be filed with the bankruptcy court, and certain deadlines must be met. Additionally, one of the most important parts of a bankruptcy case… Read More »
Suspension of Federal Student Loan Payments
The new Coronavirus Aid, Relief, and Economic Security Act (“CARES”) provides financial relief for those borrowers of federal student loans. For those who are suffering financial hardships during this time of a global pandemic due to the COVID-19 virus, this provides a welcome recess from typically high student loan payments. Due to the fact… Read More »
Should You Represent Yourself in Your Bankruptcy?
If you are facing serious debts with an inability to repay them, you may find yourself considering bankruptcy. Bankruptcy allows debtors the option of discharging most of their consumer debts (Chapter 7) or establishing a repayment plan in order to give a debtor more time to repay their creditors (Chapter 13). Whatever type of… Read More »
Dealing With Debts Not Listed in Bankruptcy
All debts should be listed in a bankruptcy if the debtor wants to include them as part of the bankruptcy. If a debtor does not list or schedule (depending on if they file Chapter 7 or Chapter 13) in the bankruptcy, they risk not being forgiven as part of the bankruptcy. Section 523(a)(3) of… Read More »
Stripping a Second (or Third) Mortgage From Your Home Through Chapter 13 Bankruptcy
Many people have a second or third mortgage on their home, and are drowning in debt. There are ways to use Chapter 13 bankruptcy to reduce the amount of money owed on those additional mortgages. Learn more about how you can strip your second or third mortgage from your pile of debts through Chapter… Read More »
IRS Income Tax Return Deadline Postponed
The governmental response to the COVID-19 global pandemic has been swift and unprecedented. Congress enacted sweeping legislation under the CARES Act to help both individuals and business owners financially. The states have also enacted specific legislation related to business owners. Additionally, the Internal Revenue Service (IRS) has also done its part in attempting to… Read More »
Tax Refunds and Bankruptcy
Even though the tax deadline for 2020 was moved to July 15, many people are currently starting to get their tax refunds in the mail, or have already received them. In light of the global pandemic impacting most Americans in a negative way, a large tax refund check is a welcome financial relief. In… Read More »
Protecting Your Coronavirus Stimulus Check From Your Creditors
The impact of COVID-19 has affected most Americans in some way, either through a loved one becoming ill or dying, or through an impact on their finances. Many businesses have been forced to shutter their doors, and lay off or even fire workers. With such uncertainty, the federal government made the decision to provide… Read More »
Title Loans and Bankruptcy
In some cases, a person who is feeling the weight of substantial debt may consider taking out a title loan in order to obtain some money to pay their financial obligations. However, in many cases, a title loan is just as bad as a payday loan in terms of interest rates and may create… Read More »
Incurring New Debt After Filing For Chapter 13 Bankruptcy
You have finally made the difficult decision to file for Chapter 13 bankruptcy. It is never an easy decision, but for those who want a fresh start, bankruptcy can help ensure a path towards financial freedom. However, in many cases, after filing for bankruptcy, some catastrophic event happens. Life is filled with unexpected occurrences,… Read More »
