Under bankruptcy law, married couples can file a joint bankruptcy petition. But, it is not typically the best option for many couples. Sometimes, it makes sense for married couples to file for bankruptcy jointly. However, it can be hard to do since both spouses must include their income in the individual bankruptcy. On the other […]
Do Married Couples Have To File For Bankruptcy Together? Read More »
One of the main things on people’s minds when they have the difficult decision of filing for bankruptcy is who might get to know. Will their family find out?Will their employers find out? These concerns can do much to distress an already anxious person with serious financial concerns. What are the facts? Who Gets to
If I File For Bankruptcy, Will Everyone Find Out? Read More »
Anyone who declares bankruptcy is presumed to be acting in good faith. Ideally, this is to be using the procedure as intended (a means of assisting debtors in controlling their debt and finances again). A bad faith filing, on the other hand, arises when someone attempts to game or exploit the system for purposes other
You Must File Bankruptcy In Good Faith, Not As An Attempt To Game The System Read More »
When you make a loan or debt to a creditor, it would require you to have a co-signer (like your parents) who are accountable for paying back the debt if you cannot do so. Let’s say you go bankrupt amid your payments. What will happen to your co-signer? Will the creditor sue them? Let us
Can Creditors Sue Co-Signers On Credit Card Debt, A Car Loan, Or Student Loans? Read More »
Filing for bankruptcy can make people feel that they can never manage their finances ever again. However, it is only temporary when it comes to reality, and although it might affect your credit score, you can still perform purchases, and you can recover from this inconvenience. It can be a hassle for everyone, especially if
People who find themselves filing for bankruptcy for the first time often imagine being left with nothing more than the clothes on their back when the process is complete. But nothing could be further from the truth. The goal of the bankruptcy process is not to punish you – otherwise it wouldn’t allow you to
What are the available exemptions in the bankruptcy filing? Read More »
If or when you find yourself in financial difficulty, with creditors knocking on your door, you\’ll have two options for dealing with the situation: 1. File for a Chapter 7 discharge of your debt 2. File for a Chapter 13 debt repayment plan Which of these you choose will depend entirely on your personal circumstances,
What Is A Chapter 13 Hardship Discharge? Read More »
We tend to have this idyllic image of what retirement looks like. It’s one of playing with your grandkids, enjoying leisurely holidays and living the life you want. After all, shouldn’t you be able to live out your Golden Years as you see fit after working your whole life? Unfortunately a growing number of senior
Bankruptcy Filing Booms Among Older Americans Read More »