Divorce and Bankruptcy
Divorce and bankruptcy can each create a difficult time in a person’s life. Unfortunately for some couples, financial problems are what lead them to divorce. While an impending bankruptcy and divorce can seem very overwhelming, there are a few things to know to help ease the process. First you will want to decide which comes […]
Liability of Cosigning on a Loan
Agreeing to co-sign on a loan can be a great way to help a friend, sibling or child establish their own credit or receive a better interest rate. The problem with co-signing on a loan is that if the primary borrower begins missing payments, the liability will fall on you. Before you agree to cosign […]
The Difference between Secured and Unsecured Debt
If you’re considering filing for bankruptcy it is essential to know the difference between secured debt and unsecured debt. The most basic difference is that secured debt can be taken away from the debtor and unsecured cannot. Secured debt involves a tangible property which helps safeguard the creditor, since they can repossess the property in […]
Is Alimony Or Child Support Considered Income In Bankruptcy?
The debt that many people carry is the highest that it has been for many decades. This could be due to a number of different factors but probably can be blamed on the high rate of unemployment, crash of the housing and stock markets, rise in number of divorces, and even rising costs of medical […]
How are Attorney’s Fees Handled in Bankruptcy?
With the state of the economy it seems that everyone is either looking for work, or is not currently even making enough money to be able to pay all of the bills and expenses that are required for everyday living. It is important that during financially tough situations you have a good support system. It […]
Bankruptcy Fraud
Bankruptcy was created to help protect consumers from the down spiral of debt. While most people who file for bankruptcy are truly in need of assistance, there are some people that have learned how to take advantage of the process. This illegal exploitation of bankruptcy is known as bankruptcy fraud and can lead to some […]
Effect of Annuity or Periodic Payments in Bankruptcy Proceedings
Finances are one of the most common things that people worry about. This is especially true given the current state of the economy. Sadly, many people have lost their jobs, bringing the unemployment rate to a higher percentage than it has been in decades. The housing market has not helped the situation either, as many […]
Is Tax Debt Dischargeable by Bankruptcy?
Many people think that bankruptcy is a simple process that will erase their debt and give them a fresh start. While this is partially true, there are some debts that are much easier to discharge than others. Some debts cannot be discharged at all, so it is important to become familiar with the different laws […]
Chapter 11 versus Chapter 13 Bankruptcy
The financial crisis is taking a toll on many Americans. The unemployment rate is higher than it has been in years and many people are finding themselves upside down on their homes. Owing more on your home than it is currently worth is a very difficult situation, especially if you don’t have a job to […]
Basics of Personal Bankruptcy
According to the National Bankruptcy Center, in 2009 1.41 million Americans filed for personal bankruptcy. Job losses and decreased income nationwide fueled the surge in filings, which showed an increase of over 32% from the year before. With more and more people feeling the weight of debt, many are asking if bankruptcy is an option […]