Because the bankruptcy process has so many requirements, it’s important to know what type of questions to ask a bankruptcy attorney before hiring him or her. Millions of Americans find themselves in debt each year, and around 400,000 people filed for bankruptcy in 2021 to try to resolve those debts. Before filing for bankruptcy, it’s essential to understand what the process means for any debts owed, as all your debt may not be wiped away when the bankruptcy has concluded. Because not all debts are eligible for discharge, filing may not always be the best route to try to resolve the debt in que ..read more

People who are struggling to meet their financial obligations every month may find themselves asking, “What is the difference between bankruptcy and insolvency?” Although the two terms are frequently used interchangeably to describe someone in financial distress, they are not the same. While a person who is in bankruptcy is insolvent, someone who is insolvent is not necessarily in bankruptcy.  In 2021 around 400,000 people filed for bankruptcy in the United States with only one state coming ahead of Nevada with the most filings. That number does not reflect the number of people who found ..read more

People seeking a solution to their overwhelming debt may wonder, “How much does a bankruptcy lawyer cost?” The answer depends on the type of bankruptcy you file, your assets, the location of the lawyer, and the time the attorney spends on your case.  Sixty-four million Americans had debt in collections during 2021. Debt that goes to collections can range from student loan debt to medical bills and taxes. In fact, medical bills and unpaid credit card debt are the two debts that are most often sent to collections. These debts also most frequently cause a debtor to consider bankruptcy. The t ..read more

If you are contemplating filing for bankruptcy, you may want to know – how long after Chapter 13 Bankruptcy can you buy a house? More than a million Americans file for bankruptcy each year to help take care of debts they may not be able to pay back. Although not all debts can be taken care of through bankruptcy, filing can often help an overwhelmed debtor ease some financial burden and allow them to get back on track. Unfortunately, bankruptcy affects your credit score and when you might be able to qualify for a loan to buy a house. Understanding bankruptcy basics can help filers make decision ..read more

How much does a debt lawyer cost? If you are struggling with debt and considering hiring a debt settlement lawyer, it makes sense to determine how much you can expect to pay. However, you should keep in mind that paying a debt settlement lawyer will help lower your overall debt load. Over 75% of Americans owe some type of debt or have a past due bill. Home mortgages make up the majority of that debt.  Taking mortgages out of consideration,  around twenty percent of Americans still have some other form of debt. This only becomes an issue when the person is unable to pay what is owed p ..read more

Can you file bankruptcy on medical bills? You can get medical bills discharged if you file Chapter 7 or Chapter 13 bankruptcy. Mounting medical bills are one of the reasons people file for bankruptcy. Medical bills might be the least of your worries when you seriously require medical treatment. You usually prioritize your recovery and overall physical well-being. Medical costs, however, can dent your financial well-being and expose you to additional stress.  The good thing is that you can discharge or eliminate unpaid medical bills by declaring bankruptcy. There is a catch, however. Medic ..read more

The decisions made in the bankruptcy court can override the orders in the divorce decree that determined the responsible party to pay a debt. Filing bankruptcy can impact multiple parts of a divorce decree, including both property debts and the amount of spousal payments. An estimated 747,000 couples get divorced each year in the United States, hoping to each go their own way after the process has been finished. When they do, couples may think that the property and the debt that has been divided in the decree is the end of the process, but that is not always the case when one sp ..read more