Many people know bankruptcy is an option for those who are deep in debt, but they may not understand the process that it entails. Although those who are in debt may think that bankruptcy is always an option, in reality, there is a process for determining if an individual qualifies for bankruptcy: the means test. Continue reading
Bankruptcy & Legal
I Am Being Sued for Credit Card Debt, Should I Hire a Lawyer?
You answer the door to a process server or Sheriff’s deputy and suddenly realize, “I am being sued for credit card debt!” Having received numerous letters and countless phone calls during the dinner hour, you knew this was a possibility but it is still a shock. You have got to protect yourself, and hiring a lawyer is one option to consider. There are other possibilities also. Continue reading
Weighing The Pros and Cons of Chapter 7 Bankruptcy
Pros:
- Unpaid balances that are left after assets are sold off to repay creditors are erased, meaning that individuals are free from the majority of their debt. This allows them to turn their life around much more easily and get their life back on track. Continue reading
Insolvency and Bankruptcy
The technical term for being unable to pay back your debt is insolvency. It sounds like something you might have been taught in high school chemistry, but it doesn’t take a genius to understand. If you have a large sum of debt you can’t pay back in a timely fashion, you’re insolvent. Continue reading
Adversary proceeding may discharge student loan debt in bankruptcy
The reason that student loans are not discharged in bankruptcy is not because it is impossible. Bankruptcy lawyers normally opt not to include an adversary proceeding as a part of your bankruptcy, which would be necessary if you were to eliminate your student loans through bankruptcy. Continue reading
How to Find a Bankruptcy Lawyer?
Filing for bankruptcy can be one of the most difficult life decisions for many struggling Americans, one that effectively lowers your credit score immensely but at the same time allowing you to receive a fresh financial start. Whether liquidating your assets through Chapter 7 or entering a repayment plan through Chapter 13, bankruptcy lawyers and attorneys can be essential assets to your financial assistance and knowledge. Continue reading
Choose bankruptcy lawyers based on experience and reputation
Bankruptcy is not your best option in getting out of debt, but if you choose to pursue it, there are plenty of qualified people out there who can help. If you hire a bankruptcy lawyer, you can get counsel on state bankruptcy laws, which type of bankruptcy you should file, and the cost of the entire process. This will be valuable information while you recover from your legally declared insolvency. Continue reading
Getting Student Loans After Bankruptcy
If you are having financial problems, you probably notice the advertisements telling you that college graduates make more money on average than those who did not go. While you would probably love to make more money, you may be wondering how you can afford to go back to school. Traditionally, you may have considered a student loan, but if your credit score has been affected by bankruptcy, would you qualify? Continue reading
How Do I Avoid Bankruptcy?
Declaring bankruptcy is often a bottom of the barrel, last-ditch solution when your financial situation has become so severely impaired that you do not have any hope of immediate recovery and repayment of debt under your current arrangements. Declaring bankruptcy can destroy your credit history, cause you to lose your property or other assets and make receiving future loans difficult, so it should be taken seriously. It is not a free pass, either – you will still be responsible for repaying as much of what you owe as possible, and using every possible asset you have to fulfill your obligations. If you fear that you are coming perilously close to these unfortunate circumstances, you should immediately meet with a reputable financial counselor to discuss other options. Continue reading
Legal Costs of DWI Defense are Staggering
Driving while impaired, or commonly known as a DWI, is the act of driving a motor vehicle with a blood level of alcohol exceeding the legal limit. Measure of the driver’s Blood Alcohol Content, or BAC, is used to see if it exceeds the threshold that defines the offense. In many states, the Blood Alcohol Content legal limit is 0.10%. However, there are states who have adopted a lower limit of 0.08%. If the driver is cited for driving at or above this BAC limit, the individual will get into a lot of legal and financial trouble. The effects of a DWI are very stressful and costly, and can be avoided simply by taking a cab or getting a ride. If you are charged with a DWI, it is important to understand the legal costs to be defended. Continue reading
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