Bankruptcy Filing
Payday Loans: Playing with Fire
Quick Fix or Burdensome Debt?– Financial Quick Sand of Payday Loans Payday loans provide a quick cash resource for many people, but more often than not, this quick fix can turn into overwhelming debt very quickly, burying a borrower in debt with massive interest rates attached. These loans are usually seen as a short-term solution for bills…
Read More341 Creditors Meeting: A Debtor's Visit to Bankruptcy Court
In every bankruptcy, the debtor is required to visit the bankruptcy court for the 341 Creditors Meeting. The “meeting” is a hearing conducted by the bankruptcy trustee so they may ask the debtor questions about their financial condition. It is called the 341 Meeting of Creditors because the debtor’s creditors may also appear and question the…
Read MoreBankruptcy and Divorce: A Common Couple
Bankruptcy and Divorce: When your divorce leaves you broke, bankruptcy can give you a fresh start! Many times bankruptcy and divorce go together. A divorce is not only emotionally draining, but separating all the debts and assets of two people gained during a marriage can lead to financial instability. In a divorce all marital property…
Read MoreMedical Bills: Discharging Medical Debt
When medical bills make you sick, file for bankruptcy! With many Americans out of work, and therefore without health insurance, medical debt can put many families in a financial bind that is impossible to get out of. A 2009 study by Harvard researchers found that 62% of all personal bankruptcy filed was because of financial hardship…
Read More10 Bankruptcy Commandments: Difference Between Discharge Success & Failure
To insure a successful bankruptcy, concluding in the discharge of your debts – follow these 10 Commandments: 1. Thou shalt not keep information from your attorney. Effective representation requires all information be provided. Information requested is required by the bankruptcy court; if not provided – cannot file. 2. Thou shalt not hide assets. The court…
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