Debts come in many forms, and bankruptcy does not treat them all the same. Before filing before bankruptcy, you should be sure that the type of debt you have will be included in the process. Otherwise, you may still owe that debt even after bankruptcy is completed....
It is very easy to find yourself with more debt than you can realistically handle. When this happens, debt collectors begin calling you and liens may even be put on your property. At this point, you have to do something. Overwhelming debt is not something that can...
When people are considering chapter 13 bankruptcy, they usually have a number of questions. One of the most common is “how long is this going to take?” People want to know when they will finally be able to put this debt behind them and begin rebuilding their financial...
It is a sad fact that medical issues often lead to large medical bills. These bills can be astronomical in size and impossible to pay in a timely manner. They often leave people feeling like they have no options and will always have this large debt hanging over their...
When you’re contemplating bankruptcy, it is important to consider the whole picture and how different people in your life will be impacted. For many in this situation, their spouse is the person they worry about most. Will my spouse have to file for bankruptcy as...
After bankruptcy, most people want to begin rebuilding their life as soon as possible. This often involves the purchase of a home to live in. For low to moderate income families, an FHA loan can make this purchase much more realistic. But, can you receive an FHA loan...
Bankruptcy often means big life changes, including your living situation. You may need to downsize your home or apartment to match your new financial situation. Unfortunately, this is often easier said than done. Most landlords will take a look at a potential tenant’s...
Civil lawsuits are used in a civil court to resolve a dispute regarding a private matter, typically seeking compensation for damages or a court order to rectify a situation, rather than criminal punishment. A civil judgement (or “judgment” in American courts) is the...
Chapter 13 bankruptcy is a reorganization of debts, allowing you to repay all or some of your debts over time through a repayment plan. It is often considered preferable to the alternative, chapter 7 bankruptcy, as it allows you to keep all of your assets and avoid...
When debt is cancelled, such as by a credit card company or bank, that is not the end of the story. A canceled debt is actually considered income and, under the treasury regulations, must be claimed as taxable income. This is where form 1099-C comes into play. What...
