About Me

When Filing Bankruptcy Is the Best Option

Thanks for stopping by my website. My name is John Finley, and I’m 46 years old. A few years ago, my wife and I found ourselves in a financial bind that continued to get worse. No matter how hard we tried to catch up, it seemed that our bills got larger, and we couldn’t keep up. Some of our credit card balances got so high that we couldn’t make the minimum payments. The collection phone calls came often and caused us a great deal of stress. We talked about different ways to get out of debt, but never found one that worked. We were both in agreement that filing bankruptcy was our last option. Well, the time came where we were out of other options and contacted a bankruptcy attorney. I am going to share our experiences with you and hope you find them to be helpful.

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3 Things You Need To Know About Chapter 7 Bankruptcy Before Filing
So many people find themselves in dire straits with their finances. Sometimes, the debts are manageable and a repayment plan can be created with each of the debtors. However, sometimes a repayment plan just isn't feasible because of the amount of debt involved. For those people, filing for Chapter 7 bankruptcy can be a viable solution. However, you shouldn't be so quick to turn to bankruptcy to solve your financial problems.

Legal and Ethical Questions Answered: When Lawyers File for a Chapter 7 Bankruptcy
Lawyers, just like any career that requires years and years of education and training to complete, have monumental school debts. Even after they have worked for a couple of years, there is always more debt piled on top of the school loans--mortgage, car loans, etc. Therefore, it is understandable if lawyers file for bankruptcy, but the question is, can they? What are the legal and ethical issues surrounding a lawyer and his or her bankruptcy?

2 Types of Bankruptcy and When You Should Consider Them
Filing bankruptcy is often a last resort for many individuals, mostly because they think that it is some kind of failure on their part. However, a bankruptcy is often the best option for people drowning in debt and having difficulty paying their debts. Below are just two bankruptcy types to consider, as well as when you should consider them. Chapter 7 A chapter 7 bankruptcy is one of the most common types of bankruptcy, mostly because of the many benefits that it provides.

For Hardworking Seniors, Chapter 13 Bankruptcy Can Be The Right Compromise
Retirees face most of the same financial pressures as the rest of the population.  That may include considering filing for bankruptcy—something that more than 1 million people do each year.  But seniors facing this option often have some unique obstacles and a few possible aids.  How can they find the best debt relief in this situation? The Moral Dilemma The first barrier to bankruptcy that many retirees face is not a financial one, nor is it the red tape or costs involved.

Know What You Stand To Lose Before Filing For Chapter 7
Before you file for Chapter 7 bankruptcy, it is very important to look at any upcoming payments you are expecting to receive. The reason for this is because the bankruptcy court can seize numerous types of monetary payments that are owed to you, and you could end up forfeiting a lot if you do not know this. What is Chapter 7? Chapter 7 bankruptcy is the branch of bankruptcy that allows you to clear away all the unsecured debts you owe, without having to repay them.

3 Ways To Get Back On Your Financial Feet After Bankruptcy
Filing for bankruptcy can seem like an epic failure for many Americans. Unfortunately, bankruptcy is the only way for some people to escape the unbearable burdens of their debt. If you are considering bankruptcy, but you are worried that your financial future will be ruined forever if you file, there is hope. Here are three ways you can continue to build a positive credit rating, even after you file for bankruptcy.

4 Things To Know About Chapter 7 Bankruptcy
If you are having problems paying your debt, you should consider filing for a Chapter 7 bankruptcy. This will help discharge many of the bills that you simply can't pay. You may have lost your job, or you may be going through a divorce that has resulted in a significant decrease in your income. There are specific things you should know if you intend to file for this type of bankruptcy.

The Big B And D: When Bankruptcy And Divorce Face Off
As if one major life change was not enough, it is not uncommon for divorce and bankruptcy to fall within the same short time frame. When two people in one household suddenly split into two separate entities, the financial strain can sometimes be too much for one or the other person to handle. Further, divorce sometimes means alimony, child support, and other new expenses that take up a great portion of income that was readily available before the division.

Try These Three Tactics Before You File For Bankruptcy
If you have been in debt for a long time, you might be tempted to just throw up your hands and head to bankruptcy court to get a fresh start. But that clean start can end up hurting you in some ways too. You likely won't be able to get another loan for a number of years, and a bankruptcy showing up on your credit report could hurt you during a job search.

Going It Alone During Bankruptcy: Four Common Problems When Skipping Representation
Although you don't need an attorney to file for bankruptcy, it's easier to navigate the maze of paperwork and court proceedings with a skilled ally. More than 11 percent of bankruptcies filed in the U.S. are done without the aid of a lawyer, but they can put a strain on the court system due to avoidable filing errors. Before deciding to go for it on your own, consider these common problems of filing on your own first.