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Regaining Financial Stability After Divorce

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3 Reasons Why Your Taxes Matter In A Bankruptcy Case

Posted by on Nov 20, 2015 in Uncategorized |

When filing for Chapter 7 bankruptcy, one of the main things your attorney is going to need from you is your tax returns. Regardless of whether you work for someone else or you are self-employed, you need to be able to provide a couple years’ worth of your returns. If you haven’t filed them, you will need to do so for the attorney to have them on record and file them with your bankruptcy paperwork. While you might not understand the importance of these documents, they are pivotal in your case. Here are three things your tax...

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What Are Your Legal Options For Handling An Involuntary Bankruptcy?

Posted by on Aug 21, 2015 in Uncategorized |

The decision to file for bankruptcy is usually a personal one, but there are some exceptions. It is possible for your creditors to file on your behalf. If you have received notice that an involuntary bankruptcy has been filed for you, here is what you need to know.  What Is an Involuntary Bankruptcy? In an involuntary bankruptcy, you could be forced to file for bankruptcy. There are rules to when it could occur. For instance, if you are indebted to one creditor for $15,325 or more and you have less than 12 creditors, one of the creditors...

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Alternative Bankruptcy Options For Repairing Your Finances

Posted by on Jul 6, 2015 in Uncategorized |

When you research bankruptcy options, you may find that Chapter 7 and 13 do not offer you much help. When your situation is different, you need to be aware of the alternative bankruptcy options that could help you repair your financial problems. Chapter 12 When you operate a family farm or family fishing business and more than 50 percent of your income comes from this business, it is best to file for Chapter 12 bankruptcy. This option is designed to help you protect your personal property and business, while you take the opportunity to repair...

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3 Things You Need To Know About Filing For Chapter 7 Bankruptcy

Posted by on Jun 22, 2015 in Uncategorized |

The state of a person’s finances can be a source of frustration. So often people find themselves in financial binds and they have to turn to maxing out credit cards and taking out massive loans to get them through the crisis. Unfortunately, that means they end up with a tremendous debt that they have no ability to repay. Whenever you find yourself in this situation, there can be a way out by filing for Chapter 7 bankruptcy. Here are three things you need to know about doing that. 1. It may not wipe out all of your debt One of the...

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Avoiding Foreclosure in Tough Times

Posted by on Jun 18, 2015 in Uncategorized |

Things happen in life that are beyond your control. You may lose a job, have a medical emergency, or have some other issue that can cost you a lot of money. When this happens, it can be hard to make payments that you owe. When you are not able to make a payment on your home, you risk losing your home by a foreclosure. When these hard times hit and foreclosure is imminent, you can try to avoid a foreclosure by taking some different steps and trying some different solutions. How to Avoid Foreclosure 1. Sell Your Home. One of the best...

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How Divorce Affects Your Bankruptcy

Posted by on Jun 16, 2015 in Uncategorized |

Given the financial strain that bankruptcy can place on someone, it is not uncommon for those going through divorce to be forced to file for bankruptcy. Bankruptcy can complicate situations such as any support payments you must make. Also, your coming divorce will affect whether you should file for bankruptcy sooner or later. How Bankruptcy Affects Child Support When filing for divorce, any support or alimony that you are required to pay is not dischargeable. Unlike with many debtors, anyone who you owe child support to will not have to file...

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How To Get Started With Filing The Right Forms For Chapter 13 Bankruptcy

Posted by on Jun 12, 2015 in Uncategorized |

Many people like the idea of Chapter 13 bankruptcy because it involves restructuring rather than outright liquidation. It’s easy to see it as a kind of debt management program rather than as a fire sale on all your belongings. However, getting started requires forms, and lots of them. Start Your Chapter 13 Bankruptcy with the Right Forms Like most things involving bureaucratic processes, you have to steel yourself for a lot of paperwork. This is less of an issue if you hire a bankruptcy attorney, but if you want to go it alone,...

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Chapter 7 Bankruptcy: The Two Tests Used To Prove Undue Hardship for Student Loans

Posted by on Jun 10, 2015 in Uncategorized |

Getting an education to further your position in life is expensive. As of 2014, 40 million Americans have resorted to taking out student loans to pay for their degree; however, with the economy in a poor state, finding a job after graduating to pay off your student loans may not be easy. As time passes, the financial hardship that paying off the student loans and their interest causes may become unbearable. For a lawyer to discharge student loans under chapter 7 bankruptcy, they must prove that the student loans cause undue financial...

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Rethinking Everything You Know About Chapter 13 Bankruptcy

Posted by on Jun 9, 2015 in Uncategorized |

There are certain experiences that are extremely detrimental to a person’s life: divorce, death of a spouse, and job loss or termination are just a few of these. Along with the emotional costs of these events, they can also create extraordinary financial hardship. Fortunately, filing for bankruptcy can provide a way out if you have experienced any of the many reasons people cite for filing for bankruptcy. Through Chapter 13 bankruptcy specifically, you can pay back just what you owe, get out of debt, start over with a clean financial...

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Quick Information On Filing For Chapter 7 Bankruptcy

Posted by on Jun 4, 2015 in Uncategorized |

When faced with financial peril, sometimes the absolute best thing you can do is cut your losses and start again. One of the most ideal ways of going about this is to hire a bankruptcy lawyer and file for Chapter 7. With this in mind, there is a lot of information that you will need to keep in the back of your head, in order to go through the process and understand what it takes. Read this guide, so that you are able to properly file for bankruptcy and take advantage of the help of a bankruptcy lawyer who can look out for you.  What is...

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2 Ways To Decrease Your Climbing Debt

Posted by on Jun 4, 2015 in Uncategorized |

When your debt is high but your income is still the same, you need a way to decrease the amount of money you owe your creditors. With this problem, you do have a few ways to pay off your debt and take control over your future finances. However, before you choose a method, it is best to know which ones are available for your situation. Rework Your Financial Plan Your first option is to try to rework your financial plan. With this method, you have to know what you are spending every penny on, which gives you an idea of where your money actually...

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