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Category: Bankruptcy

Six Things Everyone Should Understand About Bankruptcy

Six Things Everyone Should Understand About Bankruptcy

  When most people encounter financial difficulties, they view bankruptcy as an opportunity to build a new credit history. As a result of the coronavirus pandemic and its ensuing chaos, an unprecedented number of people are finding themselves facing financial difficulties and considering filing for bankruptcy. The following reviews some critical things that you should understand before you pursue bankruptcy as a method of taking control of your debt.   Bankruptcy is Not Embarrassing[...]

How to Respond to Collector Calls After Filing for Bankruptcy

How to Respond to Collector Calls After Filing for Bankruptcy

  After you file for bankruptcy, your creditors should discontinue their efforts to collect on debts. This, however, is not always the case, and sometimes people continue to be harassed by creditors even after filing for bankruptcy.    If you are harassed by creditors after filing for bankruptcy, you should understand some important details about your rights and debt collection calls. Most importantly, know that you have a right to be free from creditor harassment after filing for [...]

Planning for Bankruptcy During the Coronavirus

Planning for Bankruptcy During the Coronavirus

  If you recently lost your job or are uncertain about how you will pay off a debt, it might be a good idea to consider filing for bankruptcy. The number of people facing this situation is likely to increase as the coronavirus pandemic forces people to stay home and close their businesses.    Even though bankruptcy might not be for everyone, if you have decided on filing for bankruptcy, you should be prepared to ignore some common financial advice and to begin planning defensively.[...]

Can You File for Bankruptcy if You Lost Your Job?

  With businesses closed during the coronavirus pandemic, many people in Florida have ended up unemployed. According to the United States Department of Labor, the total number of Americans who have filed for unemployment is approximately 22 million individuals, or 13.5% of the workforce.    With this number anticipated to increase even further, many people have sought options like bankruptcy to take control of their debt. Other people have refrained from filing for bankruptcy out o[...]

Dealing with Debt During the Coronavirus Outbreak

  If you are dealing with debt during the coronavirus outbreak, it is important to remember that you are not alone. It also helps to realize that there are some critical things that you can do to take control of any debt that you might have.  To help you take control over your debt during this difficult time, this article reviews some helpful reminders. Maintaining Your Federal Student Loans The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, was signed into law on Ma[...]

How the Coronavirus Will Impact Your Bankruptcy

  The coronavirus has impacted most aspects of daily life including issues involving the federal, state, and local governments. Courts have understandably adjusted their regulations in consideration of the pandemic, but there are still some obligations that people filing for bankruptcy should still make sure to meet. This article reviews some critical issues that anyone in the process of navigating bankruptcy should understand about the coronavirus. Bankruptcy Court Closures  While some se[...]

What to Avoid While Repairing Your Post-Bankruptcy Credit 

Many credit repair companies prey on people’s hopes to rebuild their credit. As a result, many people are left in the situation of wondering what they can and cannot do to rebuild their credit score. While there are various steps that you can take to rebuild their credit, this article reviews some critical steps that you should avoid taking as you rebuild your credit score. Do Not Expect Things to Happen Quickly Some credit repair agencies promise to improve credit scores within a short period[...]

How Will Bankruptcy Impact Your Tax Refund?

  Tax refunds are the end product when people pay more taxes during the year than what they actually owe. While you might not think it, tax refunds are a critical source of income for many Americans. It is common for people to wonder if they will be able to keep a tax refund check after filing for Chapter 7 bankruptcy. While it might not seem like a satisfying answer, the reality is that various factors influence whether or not you will be able to keep this amount.  How Bankruptcy Courts V[...]

Resolving Common Errors on Credit Reports

Pursuing bankruptcy allows people to rebuild their credit score. After all, details about a person’s credit history are easily shared with creditors. While some of us think that credit reports are always accurate, however, the reality is that credit reporting agencies make several common mistakes on credit reports. To achieve the best credit score possible, this article reviews some of the most common mistakes credit agencies make on credit reports. How to Handle Credit Reporting Errors If you[...]

When can You Stop Paying on Debts After Filing for Bankruptcy?

If you plan on filing for bankruptcy, you are likely left wondering various questions including when you can stop paying creditors. The short answer is that you should not. Despite this, many people stop paying creditors shortly before filing for bankruptcy and use this money to pay for the bankruptcy filing costs. If you intend on filing for bankruptcy but are not sure exactly when you will do so, however, it is common to end up wondering if it is okay to stop paying your debt. While there is n[...]