Can You Declare Bankruptcy While In Jail Or In Prison?

24 July 2018
 Categories: , Blog

What happens to your debts while you're in jail? Some companies are willing to temporarily freeze your debt while you're in prison, while others are not. If you're going to be in jail or prison for a long time, you may want to consider dissolving your debts now. If you have a spouse (and they are also attached to these debts) this could also ease some of the financial burden on them. Read More 

Keeping More Of Your Paycheck: Bankruptcy And Wage Garnishments

21 May 2018
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The unique set of circumstances that might lead you to file for debt relief using the bankruptcy courts can vary a great deal, but almost all cases are spurred on by the punitive actions of creditors. If you owe money to a credit card company, for taxes, or to your mortgage lender, the efforts to collect what's owed can be more than just a bit annoying; in some cases those efforts make it difficult to avoid worsening your already-bad situation. Read More 

Bankruptcy And Your Savings: What You Need To Know

19 March 2018
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If you are drowning in debt, one option that you may explore is filing for bankruptcy. However, if you have accumulated a nest egg in your savings accounts, you may worry that filing for bankruptcy will force you to liquidate everything in order to obtain debt relief. Fortunately, this is not the case in many situations. Here are a few things you need to know about the impact of filing for bankruptcy on your savings accounts Read More 

Two Reasons Filing Chapter 13 Is Better Than Signing Up For Debt Counseling

18 January 2018
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Some financial experts tell people to work with a debt counseling company rather than file for chapter 13 bankruptcy, citing the fact that a bankruptcy filing can remain on your credit report for 7 to 10 years. While debt counseling may make sense in a few scenarios, here are two reasons chapter 13 bankruptcy is the better option. Debts Will Be Discharged One of the best reasons why filing for chapter 13 trumps using a debt counselor is that most of your bills will be discharged at the conclusion of your case if they're not paid in full. Read More 

Bankruptcy Challenges When You Own A Business

30 October 2017
 Categories: , Blog

Until the 19th century, if you owned a business that was forced into bankruptcy, you were held personally responsible for the debts. That meant that your business debts would wipe out your personal finances and even land you in prison. After the invention of the Limited Liability Company (LLC), owners were no longer automatically at risk for losing their personal fortunes. Today, if your business is in dire financial straights, you can file bankruptcy without too much risk to your personal finances. Read More