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Category: Bankruptcy

Should You Wait on Bankruptcy or File Now?

Should You Wait on Bankruptcy or File Now?

  The COVID-19 pandemic and the subsequent havoc that the virus has wreaked on the economy have left many people facing difficult financial times. If you think that bankruptcy is a good option, you have likely also considered whether you should file for bankruptcy now or wait.  On one hand, filing for bankruptcy too early might mean losing a property you would have otherwise been able to keep. Conversely, waiting on bankruptcy might mean you can avoid the process entirely. To help you de[...]

Navigating Life After a Bankruptcy Discharge

Navigating Life After a Bankruptcy Discharge

If you recently received a discharge following either a Chapter 7 or Chapter 13 bankruptcy, you are probably excited for a new beginning and a second opportunity to build a strong credit score. Making mistakes during this process, however, can lead to substantial complications. To make sure that you navigate this period successfully and rebuild your credit as strongly and quickly as possible, consider the following critical tips for life after bankruptcy.   Keep Copies of Bankruptcy Documents[...]

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[...]