• Understanding The Bankruptcy Trustee's Unique Powers

    There are two main goals in any bankruptcy proceeding filed by an individual. The first is to provide debt relief to a struggling consumer whose misfortunes have made him or her unable to repay a debt. The second is to make sure that all of the debtor's creditors are treated fairly and that no one creditor receives special treatment. In order to make sure that all creditors are treated equally, the law gives bankruptcy trustees some unusual powers that you should understand before you file. [Read More]

  • Common Bankruptcy Concerns Answered

    It is an unfortunate fact that your creditors have the ability to take aggressive actions against you if you fall behind on your payments. This can result in the loss of your home or any other assets that you used to secure the loan, and it can even result in wage garnishments or lawsuits. Bankruptcy protection can be an excellent option for those that are facing these actions. However, if you have never considered filing for this type of protection, understanding the following couple of questions and their answers should help you to better appreciate the viability of this option. [Read More]

  • Chapter 7 Or Chapter 13: Which Bankruptcy Is Right For You?

    Are you considering filing for bankruptcy? While bankruptcy is never an ideal outcome, it could be the best solution for you if you are dealing with a significant amount of debt. Bankruptcy gives you the ability to reduce or eliminate your debts in an affordable manner so you can start fresh and work on rebuilding your credit. However, it's important to know which type of bankruptcy is right for you. Chapter 7 and Chapter 13 are two of the most common types of bankruptcies for individuals. [Read More]

  • Is Chapter 7 Right For You?

    If you are in serious financial trouble, then one of your options is to file for bankruptcy. However, bankruptcy isn't right for everyone, so you should get all the information that you can before proceeding. To give you a better idea of your options and what they entail, here is an overview of Chapter 7 bankruptcy: What is Chapter 7? The basic idea behind Chapter 7 is that some of your assets will be sold, and the proceeds will be used to pay your creditors. [Read More]

  • 3 Questions To Ask When Looking To File Bankruptcy

    Many individuals do everything they can to make ends meet. They go to work every day and put in their eight to ten hours just to survive. Even though you are doing everything in your power to take care of your obligations, you cannot always predict when an employer is going to cut your hours or lay you off. If you recently got laid off and are struggling to pay your bills every month, there are options available to you. [Read More]

  • Three Questions To Ask When Hiring A Tax Attorney

    There are many reasons that you might be looking to hire a tax attorney, including helping you manage an audit or even take a look at your finances if you're concerned that you might have to declare bankruptcy. Whatever the reason, it's important to find the right attorney to suit you. You can often start the process by talking to acquaintances to hear about their experiences with tax attorneys, and then compile a list of people you wish to visit or speak to over the phone. [Read More]

  • Surviving A Bankruptcy: How To Cope With The Emotional Fallout

    Many times the emotional impact of a bankruptcy declaration is minimized, much to the detriment of filers. Most of you learn about how to handle money from your parents and taking financial responsibility is always emphasized, so it's only natural that self-worth becomes tied to net worth. Your ability to turn your bankruptcy filing into a positive move depends on how much attention you pay to your mental health, so read on for tips on dealing with the emotional fallout of a filing. [Read More]