Blog
Consequences of filing bankruptcy
Bankruptcy can help you discharge overwhelming debt, but it also impacts your credit, job, and personal relationships. Getting a mortgage after bankruptcy A bankruptcy shows on a credit report for 7 to 10 years from the date filed, depending on the type of bankruptcy....
When you shouldn’t file for bankruptcy
Filing for bankruptcy shouldn’t be the first option considered when you’re faced with significant debts. Before filing, you’ll want to explore other options like debt consolidation or negotiation. Additionally, bankruptcy doesn’t solve all financial situations or...
Common Bankruptcy Fraud Examples
The Federal Bureau of Investigation (FBI) estimates that 10 percent of all bankruptcy filings involve fraud. According to UScourts.gov 413,616 bankruptcies were filed in the U.S. in 2021. That means that over 40,000 cases were fraudulent. In discussing bankruptcy...
What Is a Bankruptcy Discharge and How Does It Operate?
A primary reason individuals and businesses file for bankruptcy is to have their debts discharged or reorganized. Under a debt reorganization, such as a Chapter 11 or Chapter 13 Bankruptcy, the filer works with court representatives to restructure their debts into a...
What to Expect During the Bankruptcy Process
Ironically, despite a bankruptcy filing being a life-changing event, the debtor had limited contact with the court, especially if represented by an attorney. In very rare instances will the debtor actually meet the judge, as all court interaction is through the...
How An Attorney Can Support You in Filing for Bankruptcy
Filing for bankruptcy is a financial decision that can have long-term financial, business, and life impacts. A qualified lawyer can ensure that you make decisions that are aligned with your unique circumstances and financial needs. Specific support from an attorney...
Alternatives to filing for bankruptcy
Bankruptcy sometimes is the right solution to overwhelming debt and financial burden, but it’s not the only option. Therefore, it’s important to consider all options, including the pros and cons, before proceeding with filing for bankruptcy. For instance, bankruptcy...
Debts that cannot be forgiven
Bankruptcy helps you resolve many kinds of unsecured debts, like personal loans or credit card debt. But, filing for bankruptcy doesn’t discharge all types of debts. The U.S. Bankruptcy Code specifies 19 categories of debts that can’t be discharged for Chapters 7, 11,...
Should you hire a bankruptcy lawyer or go pro se?
You don’t have to have a lawyer to file for bankruptcy. Instead, you can represent yourself, which is called filing “pro se.” However, representing yourself will require additional time, research, and could cost you more time and money in the event you make a mistake....
When should you file for bankruptcy?
Before deciding to file for bankruptcy, it’s important to consider all your options. However, there are times when bankruptcy may be the best solution. For instance, you may want to file for bankruptcy if: Attempts to negotiate with creditors haven’t worked Your debt...