Sometimes people find themselves in a situation where they can no longer afford to make their monthly bill obligations. They may have lost their job or they may have had their hours cut because of the downturn in the economy. Often a clean start will allow them to get back on their feet and get […]
Category: Bankruptcy Law Center
When Only One Spouse Goes Bankrupt
Introduction Your wife is facing serious financial difficulties and is considering bankruptcy. You wonder how her credit problems will affect your credit, as well as the effects there might be on your future financial prospects as a couple. Each situation is unique; however, there are some consequences that are commonly experienced by couples when one […]
Seven Tips for Preparing to File for Bankruptcy
Personal bankruptcy is a last resort, but it’s something that you should consider if your debt is unmanageable in your current financial circumstances. Experts say that bankruptcy may be the best option available for anyone who has been trying for five years (or more) to pay off debt and has been unsuccessful. It’s a mistake […]
Chapter 7: The Automatic Stay and Objections to the Automatic Stay
Summary Bankruptcy debtors receive an automatic stay from creditors continuing collection action on their debts. However, creditors can file objections and motions that, if granted, will set aside the automatic stay and allow the creditors to continue the collections actions against the debtor. It is important for debtors to understand the circumstances under which a […]