When a couple divorces, there is much more at stake than their emotional well-being. They must disentangle their finances, establish separate households, and provide for their children’s support and well-being. Bankruptcy and divorce are complex, and every situation is unique. Across the country, families need help with different parts of the change, whether they live in Seattle WA, Bryn Mawr PA, or somewhere else. planning may be able to help you figure out the financial strain while child counselor visits would help support your children’s transition.
Many people feel financially squeezed right now due to the pandemic, but are things tight temporarily or are there signs you are in deeper trouble financially?
This article will explore the five most common warning signs that could lead to bankruptcy in your future as well as possible solutions.
You’ve probably heard that you can get rid of your credit card debt by filing for bankruptcy. This is true, for the honest but unfortunate debtor.
Overwhelming credit card debt is one of the top three reasons people file bankruptcy, the others being job loss and medical debt. But there is more to bankruptcy than just listing your creditors and paying a filing fee. Let a prominent bankruptcy lawyer in Philadelphia tell you how you can navigate the bankruptcy process to successfully clear credit card debt and get a fresh start.
Many of us are out of work and suffering financially due to the pandemic. While the federal CARES Act has helped somewhat by extending and expanding unemployment benefits, providing payroll protection loans to small businesses, initiating forbearance on foreclosures and on making certain mortgage payments, and initiating a period of forbearance on student loans, all of this help is set to expire very soon.
What are you going to do? Don’t panic. This guide will provide you with actionable steps you can take to survive financially during these unprecedented times, and perhaps avoid ultimately filing Chapter 7 or Chapter 13 bankruptcy.
So you’ve decided to file a bankruptcy petition but are concerned about how it will influence your credit score. Here’s what happens to your credit after bankruptcy, and what you can do about it.
You should also consider what NOT filing will do to your credit. If you are behind on bills due to divorce, medical catastrophe, or job loss, your credit score has already taken a hit due to delinquent accounts. You might be facing foreclosure or car repossession, and these also affect your credit negatively. It may just be that the credit ramifications of NOT filing bankruptcy are more severe and long-lasting than filing bankruptcy, resolving your financial issues, and getting a fresh start.
The fact that you filed a personal bankruptcy case can remain on your credit report for up to ten (10) years. That being said, the type of bankruptcy you filed, why you filed bankruptcy, whether you completed your Chapter 13 plan, and whether you received a discharge will all factor into your credit score, as will your post-bankruptcy financial behavior.
We all go through money troubles at some point in our lives, but none of them is as daunting as intimidating as going bankrupt. But despite the negative connotation often associated with it, declaring bankruptcy offers individuals and businesses a way out of financial difficulty.
Most people who file for bankruptcy have one common goal – to receive possible debt relief. What many aren’t aware of, however, is that there are different types of bankruptcy. As for personal bankruptcy programs, they are usually filed either under Chapter 7 or Chapter 13 bankruptcy.
We all go through some form of financial difficulty at some point in our lives, but none of them will ever be as scary or daunting as finding oneself face to face with bankruptcy.
Filing for bankruptcy and going through the entire process can be one of the most stressful experiences of your life. And nobody deserves to go through such an enormous and distressing financial crisis alone. To make sure that you’ll be able to handle the situation and everything else that comes with it, you’ll need an experienced bankruptcy lawyer for guidance and representation in court.
Just in case you’re looking to hire an attorney to help you with your bankruptcy case, we’ve compiled five of the most important questions to ask potential bankruptcy lawyers before you hire any of them.
Thanks to bankruptcy laws, people and businesses who have experienced tragic financial collapse can start over with a clean slate. By filing for bankruptcy, these entities may be relieved of their past debts, so they can have the opportunity to reorganize their finances sans the harrowing pressure from creditors and debt collection agencies.
But as appealing as a clean financial slate can be, this is not to say that filing for bankruptcy is void of any downsides and consequences. Bankruptcy can have a significant impact on your credit reputation, so you better look at all sides properly before deciding to sign your debts away. And thus, begs the question: When to file for personal bankruptcy, and why should I do it?
With the annual NACBA Convention just around the corner, are you prepared to make important connections?
Creating a strong network can help you and your bankruptcy firm improve your business, provide great resources, and strengthen your abilities as a lawyer. You might even find a mentor, great partner, or future employer through your networking. But to get the most out of your networking efforts, you’ll need to put your best foot forward. (more…)
We know it’s hard to have a social media strategy when your firm is already busy with cases but the results are worth the effort, especially when it can bring in new clients and referrals. Here are 6 tips to ensure you’re following social media best practices. (more…)