By Jeff Field | Published July 1, 2024 | Posted in Bankruptcy, Chapter 7 | Tagged Tags: bankruptcy, chapter 7, debt | Leave a comment
Debt Issues Leading More Seniors to File for Bankruptcy
In recent years, there has been a notable increase in the number of seniors filing for bankruptcy across the United States. This trend underscores the financial challenges faced by older adults and highlights the complexities of planning for retirement amidst economic uncertainties. Traditionally, many individuals in their sixties and beyond could rely on pensions that Read More
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Allegations of Self-Dealing Complicate Red Lobster Bankruptcy
After successfully emerging from a Chapter 11 bankruptcy proceeding filed in 2020, Red Lobster is once again seeking protection from creditors. Many potential causes have been cited for the financial troubles afflicting the popular chain of seafood restaurants. Numerous mid-priced competitors have experienced similar problems maintaining their customer base while “fast casual” brands, such as Read More
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Judgment Creditor Claims Willful and Malicious Conduct in Bankruptcy of Deion Sanders’ Son
Chapter 7 bankruptcy can be a powerful tool for someone who is struggling with debt. The ability to eliminate unsustainable credit-card balances or excessive medical costs can be life-changing. However, not every financial obligation can be discharged through this process. Along with student loans, taxes and past due child support, debts arising from willful and Read More
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Protecting Your Retirement Assets in Chapter 7 Bankruptcy
Filing for Chapter 7 bankruptcy can be a daunting prospect, particularly when it comes to protecting your hard-earned retirement savings. While bankruptcy offers relief from overwhelming debt, the fear of losing retirement assets looms large for many individuals. Fortunately, the applicable laws give people struggling with debt the ability to safeguard their retirement nest egg Read More
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Buying a Car Before Filing for Bankruptcy
Considering filing for bankruptcy while also contemplating an automobile purchase can be a complex and delicate balancing act. However, there are situations where having access to a vehicle is vital and waiting through the bankruptcy process imposes an additional hardship on you and your family. With careful planning and guidance from an experienced attorney, you Read More
Read MoreChapter 13 Debt Limit Scheduled to Return to Lower Level if Congress Does Not Act
Responding to the COVID-19 pandemic, Congress in 2022 passed the Bankruptcy Threshold Adjustment and Technical Corrections Act (BTATCA). This legislation greatly expanded the scope of relief granted to debtors under the Small Business Reorganization Act (SBRA) and Chapter 13 of the Bankruptcy Code. Specifically, the law raised debt limits for filers, expanding eligibility for bankruptcy Read More
Read MoreHow Long a Bankruptcy Filing Remains on Your Credit Report
Filing for bankruptcy is a financial decision that can provide relief for individuals overwhelmed by debt. However, it’s natural to wonder about the long-term consequences, particularly regarding credit status. One of the most common questions asked is: how long does bankruptcy stay on your credit report, and how does it impact your ability to obtain Read More
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Debunking Myths About Bankruptcy
Debt can feel like a heavy weight, dragging you down and making it difficult to see a way out. When considering financial options, many people considering bankruptcy are held back by common misconceptions about eligibility for the relief and about possible negative economic repercussions. To be clear, the purpose of bankruptcy is to give debtors Read More
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Why Creditors Might Object to Your Chapter 13 Plan
Chapter 13 bankruptcy offers a path for debtors to repay creditors over time and avoid asset liquidation. Although debtors create their own plans and propose them to the court for approval, creditors themselves have a say in the process. They can file objections to a proposed repayment plan that they believe doesn’t treat them fairly Read More
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How the Automatic Stay in Bankruptcy Provides a Safe Haven
When debt becomes overwhelming, filing for bankruptcy can offer the debtor a fresh start. One of the most powerful aspects of bankruptcy is the automatic stay that immediately takes effect upon filing a bankruptcy petition. The stay acts as a shield against creditors, giving the debtor a much-needed refuge. These are the principal benefits of Read More
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A few months ago, I had to file for bankruptcy, and this team made the whole process so smooth. They answered every single question I had and walked me through everything step by step. Honestly, all I had to do was sit back and let them handle it; Th...
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An exceptional bankruptcy attorney—professional, compassionate, and highly knowledgeable. They guided me through every step with clarity and confidence, easing my stress. I truly felt supported and well-represented. Highly recommend their services ...
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