Considering a Pre-Packaged Bankruptcy?

When a company knows it’s going to need to file for bankruptcy, one of the quickest options available is a pre-packaged bankruptcy. But what is that? Considering a Pre-Packaged Bankruptcy? A Pre-packaged bankruptcy is when a company that is facing bankruptcy arranges creditor support for their bankruptcy plan before they actually file. The plan for […]

You Can Protect Your Assets During Bankruptcy

You worked hard for the assets you’ve earned. And sadly, if you’re facing bankruptcy, chances are you’re at risk for losing the assets you’ve worked hard to achieve. Luckily, lawmakers have passed acts that shield certain assets. Here are some of those things. Laws That Protect Assets During Bankruptcy State and federal laws have been […]

Taking Forbearance on Student Loan

While student loan debt cannot be discharged in bankruptcy, there are other options available to debtors that are struggling to make monthly student loan payments. Deferment and Forbearance Under certain circumstances, a debtor is able to receive a deferment or forbearance that will allow him or her to temporarily postpone or reduce your student loan payments. Often times, […]

Jail Time for Abby Lee Miller Following Bankruptcy Fraud

Abby Lee Miller, of Lifetime’s “Dance Moms” series, has been sentenced to one year and one day in federal prison after pleading guilty to charges of bankruptcy fraud last June. Jail Time for Abby Lee Miller Following Bankruptcy Fraud Miller, who rose to fame as the brash director of a Pennsylvania dance studio, will be […]

Obama’s Affordable Care Act Kept Medical Bankruptcies Low

A recent analysis of bankruptcy court data and the results of a questionnaire of 2,000 consumers was published by Consumer Reports. Its findings? The Affordable Care Act may have contributed to a drop in personal bankruptcies as the result fo medical bills. Obama’s Affordable Care Act Kept Medical Bankruptcies Low According to recently released data, […]

Bankruptcy and Receiving Social Security

A common question during bankruptcy is if social security payments will be garnished to pay off creditors. Below we discuss how social security is handled during both Chapter 7 and Chapter 13 bankruptcies. What is Social Security? Before we discuss how Social Security is treated in Chapter 7 and Chapter 13 bankruptcies, it’s important to […]

Navient Faces Class-Action Lawsuit from Borrowers

Student loan servicing giant Navient is facing a class-action lawsuit from its borrowers. Those borrowers are claiming that Navient attempted to collect on loans that had been discharged in bankruptcy. Navient Faces Class-Action Lawsuit from Borrowers Following mounting pressure from plaintiffs and legislators, Navient has agreed to cease some of its aggressive collection tactics used […]

Payless ShoeSource Files for Chapter 11 Bankruptcy Protection

Shoe retailer Payless ShoeSource has filed for Chapter 11 bankruptcy protection, marking it the latest brick-and-mortar store to close its doors following an inability to keep up with online shopping retailers such as Amazon. Payless ShoeSource Files for Chapter 11 Bankruptcy Protection The Topeka, Kansas-based retailer, founded in 1956, announced it will be immediately closing […]

Why Do People File for Bankruptcy?

As we all know, the United States is slowly emerging from an economic downturn. While things are improving, we can all note that they are improving slowly. While money mismanagement can lead people to file for bankruptcy, the more common reasons are actually job loss, medical emergencies, or divorce – all things that people must […]

Three Times To Consider Bankruptcy

When times get tough it’s not unusual for people to consider bankruptcy. There are however instances when it is smart to weigh the pros and cons of filing for bankruptcy. Below we discuss what those instances are and what you can do. Three Times To Consider Bankruptcy Job Loss After losing your job and in the […]