Filing for bankruptcy can stop a foreclosure
Walsh Law Blog
by aprilfaxonvertumarketing
2M ago
In Mississippi and throughout the country, many households have been hit with financial problems in recent years. Some people have lost their jobs, while others have suffered health issues prompting a need for expensive medical care. Many people have incurred high balances on their credit cards, just trying to make ends meet. Some are behind on mortgage payments and fearful that their lenders will initiate foreclosure proceedings. Especially for households that include children, receiving a foreclosure notice in the mail is a frightening experience. Parents immediately begin to worry about whe ..read more
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How to protect your wealth during a divorce
Walsh Law Blog
by elma.dheeksha@thomsonreuters.com
2M ago
Divorce does not just refer to the end of a marriage; it also marks the beginning of complex and sometimes highly emotional financial negotiations that can impact your financial health. When it comes to divorces that involve significant assets, approaching the situation with a strategic mindset is critical. Whether the marriage involves real estate, business interests or high-value private property, it is essential to recognize that the decisions you will make will shape your financial stability for years to come. Here are some ways you can protect your assets during a divorce: Know your finan ..read more
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Debt-causing issues that may prompt bankruptcy
Walsh Law Blog
by aprilfaxonvertumarketing
3M ago
Most people in Mississippi and across the country experience financial problems at some point. A wide range of economic issues can significantly impact one’s financial status. Many people have dealt with these issues. They often create an urgent need for financial relief, which is what bankruptcy provides.   Bankruptcy occurs for many reasons besides financial failure. Many high-asset business owners use bankruptcy as a valuable financial tool to get through tough times and restore solvency. The average homeowner can do the same.   5 issues that cause debt and often make ba ..read more
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Restore solvency with Chapter 13 bankruptcy
Walsh Law Blog
by aprilfaxonvertumarketing
3M ago
Throughout Mississippi and across the country, millions of people have been hit hard by financial crises in recent years. Savings in many households have been drained due to medical bills, loss of income, and credit card balances that have gotten out of hand. Many people encounter challenges when unexpected expenses arise that they are not prepared to meet, such as vehicle or home repairs. These situations often cause people to fall behind on their mortgage payments, which may be a good time to consider filing for Chapter 13 bankruptcy.   Chapter 13 bankruptcy is commonly referred to ..read more
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Filing Chapter 13 bankruptcy after Chapter 7
Walsh Law Blog
by aprilfaxonvertumarketing
4M ago
Recent years have been challenging financially for many in Mississippi and across the country. Thankfully, many individuals have been able to seek debt relief to resolve their immediate financial problems. Some find a solution by filing for Chapter 7 bankruptcy. While this program can help an individual or business pay back creditors, it does not guarantee that new financial problems will not arise in the future.   Many people find themselves in need of immediate debt relief more than once in a lifetime. Others can liquidate assets through Chapter 7 but may still need assistance to c ..read more
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Issues that often precede bankruptcy
Walsh Law Blog
by aprilfaxonvertumarketing
4M ago
Mississippi has not been immune to the economic struggles millions of people throughout the country have experienced in recent years. Many people in this state are struggling to stay afloat financially. While each person’s circumstances are unique, several issues are common among those whose finances have gotten out of hand, compelling them to seek debt relief, such as filing for bankruptcy. Experiencing just one of these issues is enough to spark a financial crisis. Unfortunately, many people encounter several of these issues simultaneously, bringing them to the brink of financial ruin. Thank ..read more
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Recycling company files for Chapter 7 bankruptcy
Walsh Law Blog
by aprilfaxonvertumarketing
5M ago
When a business in Mississippi or elsewhere stumbles upon rough financial times, it can take months or even years to restore stability. In many cases, severe financial crises require measures that reach beyond cutbacks in spending or downsizing a company. A recycling business in another state recently filed for Chapter 7 bankruptcy to rectify its financial woes.   With a Chapter 7 bankruptcy, an individual or business can pay back creditors by liquidating assets. The proceeds of those sales are then used to pay off debt. This is different from a Chapter 11 or 13 bankruptcy program, w ..read more
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Can Chapter 13 bankruptcy resolve financial woes?
Walsh Law Blog
by aprilfaxonvertumarketing
5M ago
In Mississippi and throughout the country, millions of people are struggling to stay afloat financially. Some are business owners, while others are simply individuals trying to make ends meet. When things get out of hand and resolving debt in conventional ways (like cutting back on spending or working overtime to generate more cash flow) has not been successful, it might be time to consider a valuable tool known as Chapter 13 bankruptcy. The Chapter 13 program is available to those who meet the eligibility requirements. It is best to meet with someone who can suggest which bankruptcy options b ..read more
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3 divorce tips when your ex is a narcissist
Walsh Law Blog
by aprilfaxonvertumarketing
6M ago
Deciding to move on in life without one’s partner when there are irreconcilable differences in a marriage is an issue to which many Mississippi spouses can relate. In some cases, the decline of a marital relationship has occurred slowly over time, with spouses growing distant from one another but without there being a cataclysmic issue like an affair or domestic violence. In other situations, such as a spouse who has been the victim of narcissistic abuse, the decision to divorce has come after years of mistreatment. Divorce is never easy, especially if children are involved. However, navigatin ..read more
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Hiding assets may be a form of perjury in a divorce
Walsh Law Blog
by aprilfaxonvertumarketing
6M ago
Many Mississippi families are going through some major life changes as 2024 gets underway. Some are having babies. Others are moving across the country to start new jobs and find new homes. Many are experiencing less happy changes like divorce. While some spouses will be able to achieve a fair settlement swiftly and amicably, others will not, mostly because a spouse might have a bad attitude or is acting underhandedly, like hiding assets.   When a married couple decides to file for divorce, they must navigate the disclosure phase of proceedings. During this phase, each spouse must co ..read more
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