Those filing for bankruptcy have a lot of options. If you are married, not only must you choose between Chapter 7 and 13 bankruptcy, but you must also determine whether you will be filing jointly or individually. Each couple considering bankruptcy should be aware of the financial advantages and disadvantages to joint filing. Ultimately, you
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Overlooked Causes of Debt
The Road to Bankruptcy: Overlooked Causes of Debt from BartoloneLaw As of July, more than 450,000 Americans have filed bankruptcy in 2018.1 While bankruptcy filing rates have started to fall, many citizens are still finding themselves in so much debt that there’s no way to pay it all back. These are some commonly overlooked
Read MoreShould I Hire a Bankruptcy Attorney?
Filing for bankruptcy isn’t an easy decision, and attempting to navigate the system alone could make your situation more complicated and stressful. There’s no shortage of bankruptcy attorneys to choose from, but you might have questions about what they can offer you, how to choose quality representation and whether it’s worth the cost. What Does
Read MoreIs Filing Chapter 7 Bankruptcy Right for You?
Many people are faced with the decision of whether to file for bankruptcy. According to the American Bankruptcy Institute, more than 250,000 people filed for bankruptcy in April 2018.1 Most often, individuals will declare: Chapter 7, or Chapter 13 The biggest difference between the two is that when filing Chapter 7, you are filing for
Read MoreAre You a Candidate for Individual Chapter 11 Bankruptcy?
Filing for bankruptcy is a difficult decision. Still, hundreds of thousands of Americans file for Chapter 7 or Chapter 13 bankruptcy each year and find debt relief. Although Chapter 11 bankruptcy is typically reserved for large corporations, individuals may also file Chapter 11 in some circumstances. It may even be more beneficial depending on the
Read MoreWhat is Chapter 7 Discharge?
Chapter 7 bankruptcy is the most commonly filed type of bankruptcy in America. In fact, when people hear the term “bankruptcy,” they are usually thinking of a common Chapter 7 liquidation, during which a court-appointed trustee collects a debtor’s nonexempt assets, such as vacation or second homes, a new vehicle, investments or valuable artwork, and
Read MoreDo Tax Returns and Refunds Change After Bankruptcy?
When you’re already struggling financially, it may feel like rubbing salt in the wound to have the government demand additional tax forms or to have your trustee take your tax refund away. However, bankruptcy does not exempt you from filing your taxes, nor does it guarantee that you will be able to spend your tax
Read MoreThe Pros and Cons of Filing Chapter 13 Bankruptcy
While bankruptcy carries a social stigma, it can be one of the smartest financial decisions a person can make. Although many people still carry the misguided notion that debtors are lazy or foolish with their money, more often than not, a bankrupt person’s financial situation was simply outside of their control. Evidence suggests most personal
Read MoreBankruptcy Myths Resolved
Filing for bankruptcy is never an easy decision. People often feel as if there’s an implication of financial irresponsibility attached to anyone who utilizes the bankruptcy process, or that the people who go through bankruptcy are trying to take advantage of the system and escape their obligations. These common misconceptions, unfortunately, cause many people who
Read MoreWhat Can Chapter 11 Business Bankruptcy Do for Business Owners?
While no one ever wants to file for bankruptcy, it’s important people know what their options are so they can make the best choice in unfortunate circumstances should they arise. This is especially true when it comes to small business owners, where their business is likely their livelihood. When small businesses experience financial crisis, Chapter
Read MoreGetting Back on Track After Bankruptcy
Filing for bankruptcy can be embarrassing and intimidating, especially when you think you’ll become a financial pariah when it’s all over. Don’t lose hope. There is life after bankruptcy and many Americans can achieve financial stability with just a few habit changes. If you’ve filed for bankruptcy recently, take these steps toward a brighter financial
Read MoreCredit Scores and Bankruptcy
Filing for bankruptcy is never an easy choice to make. Bankruptcy is a last resort to consider only when other options like debt management plans, settling or consolidation fail. Although it has its saving graces, bankruptcy can have detrimental effects on your purchasing power. One negative effect of declaring bankruptcy is a temporarily lower credit
Read MoreThings to Avoid If You’re Filing for Bankruptcy
There are several common mistakes people who are considering bankruptcy make before they file. Some are intentional in an attempt to lessen the negative repercussions on them and their lifestyle and others are just mistakes they don’t realize could cause issues with their bankruptcy proceedings. The following are some examples of actions you should avoid
Read MoreShould I File for Chapter 7 or Chapter 13 Bankruptcy?
Many people who are struggling with debt consider bankruptcy, but how do you know which type of bankruptcy to file? If you’re a consumer who is just beginning research on bankruptcy options, you can generally rest a bit easier knowing there are really only two types that are likely relevant to you. Chapter 7 and
Read MoreWhen Is it Time to File Bankruptcy?
While bankruptcy should always be a last resort, there are certain circumstances in which it may be the best option to help you regain your financial footing. If any of the following signs apply to your current situation, you owe it to yourself to speak with an experienced bankruptcy attorney to determine if filing is
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