No Definition for Undue Hardship

It can be very difficult, if not impossible, to discharge student loans through bankruptcy. Courts require that you prove it would cause an undue hardship for you to pay. The problem with this is that Congress has never defined what constitutes an “undue hardship,” thus leaving it in the hands of many courts to determine […]

More Seniors Filing for Bankruptcy

More seniors are filing for bankruptcy, leaving many to question if America is facing a “retirement crisis.” According to a new paper by academic researchers affiliated with the Consumer Bankruptcy Project, “Older Americans are increasingly likely to file consumer bankruptcy and their representation among those in bankruptcy has never been higher.” So what’s the potential reason? High […]

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 […]

Will Bankruptcy Get in the Way of Your New Business?

Entrepreneurs are called that for a reason – they strive forward with their dreams without letting anything stop them. But what about bankruptcy? Can a personal or business bankruptcy get in the way of your business dreams? Will Bankruptcy Get in the Way of Your New Business? The first question you’ll need to address is […]

What You Need to Know Before You File

Understanding the following aspects of bankruptcy will help you be more prepared to take the next step. Bankruptcy is Not Quick Chapter 7 bankruptcy case lasts an average of four months. A Chapter 13 bankruptcy plan lasts for three to five years. A Chapter 11 bankruptcy case may last for two years or longer. Public […]

Bankruptcies Down Compared to Last Year

According to figures distributed by the American Bankruptcy Institute, bankruptcy filings are down as compared to last year. Bankruptcies Down Compared to Last Year Data provided by Epiq Systems showed total bankruptcy filings during the first six months of this year are decreased 3 percent to 388,199 cases – down from the 399,522 total filings […]

Restrictions During Bankruptcy

Bankruptcy can be a big disruption to your life. One of the hardest things to face is the restrictions that you might face when you are in the process of repayment or debt settlement. It can be hard to know if you’re allowed to accept a financial gift from a friend, or if it’s okay […]

Don’t Wait to File for Bankruptcy

Because filing for bankruptcy can feel like an admission of personal and financial failure, people often hold off until the last minute to file, and then pay the price for waiting for so long. Don’t Wait to File for Bankruptcy There’s such stigma around filing for bankruptcy when there really does not need to be. […]

Widowers Are Protected from Foreclosure

If you are recently widowed and concerned about losing your home, know that there are laws in place to protect you. As always, if you are facing foreclosure, we always advise to reach out to an attorney that can help you find a way to stay in your home. Widowers Are Protected from Foreclosure The […]

Can You Get a Personal Loan After Bankrutpcy?

Most people facing bankrutpcy – and there are a lot (according to the American Bankruptcy Institute close to 766,700 individuals and businesses filed for bankruptcy in 2017) – fear that they’ll be unable to ever secure a personal loan because of the damage it can do to someone’s credit. There are ways to do it […]