By Jeff Field | Published September 23, 2024 | Posted in Chapter 7 | Tagged Tags: Inflation, loans, mortgages | Leave a comment
Stubbornly High Interest Rates Contributing to Increase in Bankruptcies
Increases in bankruptcies during 2023 and 2024 can be attributed to several factors. Millions of Americans relied on various government programs that provided economic relief for the duration of the COVID-19 pandemic. As the United States returned to normal, these initiatives expired, causing financial hardship to many who benefited from them. Though the pace of Read More
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Proposal Seeks to Give Cannabis-Related Businesses Access to Bankruptcy Protection
The cannabis industry has experienced explosive growth in recent years as more states legalize both medical and recreational marijuana. In Georgia, some medical use is allowed and several of the state’s largest cities, including Atlanta, have passed decriminalization measures. However, this burgeoning sector faces unique challenges, including limited access to traditional banking services and the Read More
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Can You Buy a House While on a Chapter 13 Repayment Schedule?
Buying a home is a major part of the American dream for most people. Of course, it can be very difficult making that dream a reality. Securing the mortgage you need can be even tougher if you’re currently subject to repayment plan established in a Chapter 13 bankruptcy. While it’s not impossible to buy a Read More
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More Chapter 7 Hardship Discharges Being Granted for Student Loans
For years, student loan debt has been a serious burden for countless Americans, often preventing them from achieving financial stability and pursuing their dreams. While traditional bankruptcy relief has been notoriously difficult to obtain for student loan borrowers, a perceived shift in how education debt is treated may be offering new hope. You might have Read More
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FTC Warns Consumers About Credit Repair Scams
Credit repair scams typically involve companies that claim they can remove negative information from your credit report, even if that information is accurate. They often require upfront payment for their services and may even advise you to dispute legitimate debts or create a new credit identity, both of which are illegal. In recent years, the Read More
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Social Media Discretion is Important During the Bankruptcy Process
In today’s digital age, social media has become a pervasive part of our lives, giving us the ability to share everything from personal milestones to daily activities with people around the world. However, when going through a bankruptcy, maintaining discretion on social media is not just advisable but crucial. Missteps in this area can have Read More
Read MoreGiuliani’s Bankruptcy Case Shows Importance of Full Disclosure
After a Georgia defamation lawsuit resulted in a $148 million verdict against him, former New York City Mayor Rudolph Giuliani sought bankruptcy protection, claiming that he lacked the resources to pay the judgment and other debts. The fact that he owes such a large amount of money makes it easy to understand why he sought Read More
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Americans’ Total Medical Debt Estimated at $220 Billion
Nothing is more important than your health. Unfortunately, individuals across the country often are forced to sacrifice their financial stability in order to ensure their physical well-being. If you or someone you love cannot see a way to overcome your healthcare debt, it is time to talk to an experienced bankruptcy attorney. The total amount Read More
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Bankruptcies Surge Among Millennials
Millennials are known for their tech savvy, and while older generations might still think of them of kids, even the youngest members of this group are approaching age 30. As they start families and look to advance their careers, millennials are also increasingly facing various sources of financial stress. In response, more millennials than ever Read More
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Inflation Cited As Factor As Bankruptcies Increase
If you’ve felt extra financial pressure over the past couple of years, you’re not alone. Data from 2023 shows that bankruptcies are on the rise in the United States. While multiple factors have contributed to this increase, one significant driver is the persistence of inflation following the COVID-19 pandemic. As prices for essential goods and Read More
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