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Filing for bankruptcy as a self-employed individual is different than filing bankruptcy as an employed individual. It’s not necessarily more or less difficult or successful, but rather, the differences lie in proving your income and how you file. Here’s what you should know about filing bankruptcy when self-employed. Taking the Means Test Proving your income […]
You might have heard that filing for bankruptcy absolutely obliterates your credit and getting back on track will be extremely difficult if not next to impossible. Fortunately, this is a myth. While it’s true that your credit takes a significant hit when you file for bankruptcy, you can build it back up with time and […]
Deciding to file for bankruptcy once is a tough decision, let alone twice. Many people may be hesitant to consider a second bankruptcy or may not even know that filing a second time or filing for another kind of bankruptcy is possible. That said, filing twice is sometimes required to clear your financial slate to […]
Part of the Chapter 7 bankruptcy process is for the filer to disclose all of the exempt and non-exempt assets that they own so non-exempt assets may be liquidated to pay off some or all debts. Some people may either forget that they have some assets or willingly conceal them from the court. If […]
There are many different types of consumer debt. They can essentially be broken down into two categories — secured debt and unsecured debt. Here’s what you should know about the different kinds of debt and how to get legal help when you’re overwhelmed by what you owe. Secured Debt Secured debt includes certain types […]
What You Need To Know About The Two Most Popular Types Of Bankruptcy The majority of bankruptcies filed across the United States are either Chapter 7 or Chapter 13. Which one is right for you depends on your individual financial situation as well as your goals. Chapter 7 Bankruptcy Filing Chapter 7 is […]
Relief For Homeowners In March 2020, the American government passed the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act. In addition to stimulus payments made to taxpayers to help offset the personal financial impact of the Coronavirus pandemic, the Act included relief for homeowners. Homeowners with federally-backed home loans can […]
A Chapter 13 bankruptcy can help you begin the process of paying down your debt and getting back on the right track. However, it’s not the right type of bankruptcy for everyone. Do you qualify for a Chapter 13? Here are the requirements you need to meet. You’re Not a Business A Chapter 13 […]
The Most Common Bankruptcies The majority of bankruptcies filed across the United States are either Chapter 7 or Chapter 13. Which one is right for you depends on your individual financial situation as well as your goals. Chapter 7 Bankruptcy Chapter 7 is a liquidation bankruptcy that is designed to eliminate all unsecured debt like […]
What Happens To My Car? One of the first questions that individuals considering filing for bankruptcy is if they’ll get to keep their vehicle. In most cases, yes. Courts consider a vehicle a necessary asset to get to and from work, the grocery store, medical appointments, and other critical business. However, there are some nuances […]
