Credit card debt is often one of the primary reasons people consider filing for bankruptcy. Filing for bankruptcy gives you the chance to rebuild your financial situation, and it may even discharge much of your debt. While bankruptcy often discharges many forms of...
In a Chapter 13 bankruptcy case, the trustee plays a key role in overseeing the process and ensuring all parties follow the rules. The trustee acts as an intermediary between the debtor, creditors, and the court. Reviewing the repayment plan The trustee reviews the...
Facing the possibility of foreclosure can be overwhelming for homeowners. One potential solution is a short sale, where the lender agrees to accept less than the remaining mortgage balance for the property. While this option can help homeowners avoid foreclosure, it...
The means test is a financial assessment used to determine if you're eligible for Chapter 7 bankruptcy. The goal? To ensure that people who can afford to repay some of their debts don't use Chapter 7 bankruptcy to wipe out all their debts unfairly. This step generally...
Retirees are facing growing challenges as living costs continue to rise, and many are struggling with escalating credit card debt. Retirees must find ways to manage this debt while navigating the pressures of fixed incomes and increasing expenses. Budgeting and...
Are you feeling frustrated after your bank denied your home modification loan application? Many people find themselves in this challenging situation, wondering why a lender turned down their request for financial relief. In this blog, we’ll explore the common reasons...
Franchise businesses facing financial struggles may consider Chapter 11 bankruptcy to restructure debt and continue operations. The impact of Chapter 11 on franchise agreements can vary, depending on the terms of the contract and court decisions. Understanding how...
Homeowners facing financial hardship may struggle to keep up with mortgage payments, putting them at risk of foreclosure. A deed-in-lieu of foreclosure can be a useful tool to avoid the stressful and damaging process of foreclosure. This option allows homeowners to...
Tax debt can be one of the most challenging types of debt to manage. For those struggling financially, filing for Chapter 13 bankruptcy may provide some relief. Understanding whether Chapter 13 can discharge tax debts is necessary for making informed decisions under...
Chapter 7 bankruptcy can be a viable option for small business owners who face overwhelming debt. However, it’s important to understand the long-term consequences before proceeding. Impact on personal credit Chapter 7 bankruptcy remains on personal credit reports for...
