How Creditors Must Respond After You File for Bankruptcy

After you file for bankruptcy, all of your creditors must stop calling you in an effort to collect compensation. Unfortunately, creditors do not always follow the rules, and some people report that they are harassed by creditors even after declaring bankruptcy. If you are experiencing difficulties with a creditor, you should not hesitate to contact […]

How Voluntary Repossession can Affect Your Credit

For people who have fallen behind on motor vehicle payments, there is a significant chance that their vehicles might end up repossessed. No matter if it is voluntary or involuntary, repossession of a motor vehicle will damage your credit rating. If you find yourself in such a situation, it is a wise idea to obtain […]

Rebuilding Your Credit Rating After Bankruptcy

Bankruptcy offers a second chance to rebuild your credit and continue onward with your life. Unfortunately, your credit score will temporarily fall after declaring bankruptcy. During the period immediately after bankruptcy, individuals often find it challenging to do things like rent an apartment or purchase a car or home. There are, however, some pieces of […]

Four Ways Bankruptcy can Save Your Financial Future

The idea of bankruptcy being something positive is foreign to most Americans. For decades bankruptcy was viewed as a financial defeat, and the changing bankruptcy laws that were created in response to high filing numbers further cemented the idea that bankruptcy was bad. While bankruptcy is never the ideal solution for a given situation, it […]

Reasons Small Businesses Declare Bankruptcy

Toys R Us shocked millions of Americans by declaring bankruptcy and announcing that their locations in the United States would be closed. Some stores closed their doors immediately following the shocking announcement while others plan to close over the next two months.  Shoppers lining up to take advantage of store closing sales received an additional […]

Can Student Loans be Discharged in Bankruptcy?

  Student loan debt is a growing problem in the United States as the cost of higher education and difficulty obtaining employment with a reasonable salary combine to make life difficult for college graduates. As of 2018, American citizens owe over $1.4 trillion dollars in student debt, outpacing the nation’s multi-billion dollar credit card debt. […]

How Will Bankruptcy Affect My Tax Refund?

The 2018 tax filing season officially begins on January 29, 2018 and the Internal Revenue Service (IRS) expects to receive approximately 155 million tax returns this year. Most individuals who are eligible to receive refunds via direct deposit can expect a turnaround time of 21 days with the first direct deposit date of the 2018 […]

Things Every Couple Considering Bankruptcy Should Know

In marriage the vow “for better, for worse” acknowledges that a couple may experience substantial hardships that will test their commitment to each other. One hardship that is unfortunately common is financial difficulty that can seriously impact a family’s entire standard of living. When debts and monetary setbacks become more than a couple can reasonably […]

Understanding the Bankruptcy Discharge

One of the biggest advantages of filing for Chapter 7 or Chapter 13 bankruptcy is the bankruptcy discharge of certain debts that comes along with successful completion of the proceedings.  A Bankruptcy Discharge Is… A bankruptcy discharge is a permanent court order prohibiting creditors of the bankruptcy debtor from taking any action to collect discharged […]

A “Relative” Large Chapter 11 Bankruptcy

In late July, Relativity Media filed for Chapter 11 Bankruptcy and Hollywood and bankruptcy enthusiasts alike are closely watching the case.  If you’re unfamiliar with the name, Relativity is the third largest mini-major film studio in the world with credits for producing titles (some with other production companies) like Limitless, Interns, Les Miserables, The Best […]