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Category: Bankruptcy

Top Four Chapter 13 Bankruptcy Mistakes

Chapter 13 bankruptcy relief offers filers a unique opportunity to receive protection from debt collection actions while allowing them to repay creditors an amount that the filer can afford. The second most commonly filed bankruptcy chapter, this financial reorganization gives an individual up to five years to pay creditors. A good option for those who own property that they do not wish to surrender, chapter 13 can lead to additional problems if the debtor makes a mistake when filing for relief.[...]

Tips for Closing with an Investor

Real estate has long been a stable investment for anyone seeking to amass a valuable portfolio.  Though the real estate market has been slowed by past recessions, in many markets an investor with ready cash available has helped sellers who were attempting to sell property during a time when buyers are scarce. While it is true that a real estate investor can be the answer to any property situation in which finding buyers is hard, closing with a cash investor comes with its own unique set of pote[...]

Four Ways Bankruptcy can Save Your Financial Future

The idea of bankruptcy being something positive is foreign to most Americans. For decades bankruptcy was viewed as a financial defeat, and the changing bankruptcy laws that were created in response to high filing numbers further cemented the idea that bankruptcy was bad. While bankruptcy is never the ideal solution for a given situation, it can actually help solve some of your financial troubles. Knowing these four ways bankruptcies can save your financial future can help you if you are unsure w[...]

Three Signs it is Time to Consider Bankruptcy

In the United States, bankruptcy is seen as an option of last resort when a person is in debt. Viewed negatively, the average person believes bankruptcy is a sign of financial defeat, and that stigma leads to people waiting until their situation is truly out of control before they seriously explore bankruptcy. If you or someone close to you is going through a difficult financial period, it may be time to consider filing for bankruptcy. Since societal stigma makes it hard to determine when bankru[...]

Reasons Small Businesses Declare Bankruptcy

Toys R Us shocked millions of Americans by declaring bankruptcy and announcing that their locations in the United States would be closed. Some stores closed their doors immediately following the shocking announcement while others plan to close over the next two months.  Shoppers lining up to take advantage of store closing sales received an additional unpleasant surprise in the form of tangible evidence of another store’s, Claire’s, imminent closing. Entire sections of Claire’s products n[...]

How Common is Bankruptcy?

  Individual bankruptcy has long been viewed as a sign of defeat or financial failure, making those burdened by debt reluctant to file. As the news of large corporations like Toys R’ Us and Claire’s filing for bankruptcy relief dominates national headlines, average people are starting to reassess their decisions to forgo filing for chapter 7 or chapter 13 relief. The truth is that people file for bankruptcy on their own behalf or on behalf of their small business more often than many re[...]

Top Three Benefits of Filing for Bankruptcy Relief

Over the last three decades, approximately one in 10 adults in the United States filed for bankruptcy relief. Even though filers often feel as though filing for bankruptcy is a sign that they have failed to manage their money properly, the reality is that most filers are hardworking individuals who have recently suffered a significant financial setback. Job loss, divorce, and medical issues are the leading reasons cited for bankruptcy filing, with the average filer being an educated full-time wo[...]

How Will Bankruptcy Affect My Tax Refund?

The 2018 tax filing season officially begins on January 29, 2018 and the Internal Revenue Service (IRS) expects to receive approximately 155 million tax returns this year. Most individuals who are eligible to receive refunds via direct deposit can expect a turnaround time of 21 days with the first direct deposit date of the 2018 tax season expected to be February 12, 2018. For those who have recently filed bankruptcy or who are planning to file bankruptcy in the immediate future, your bankruptcy[...]

Things Every Couple Considering Bankruptcy Should Know

In marriage the vow “for better, for worse” acknowledges that a couple may experience substantial hardships that will test their commitment to each other. One hardship that is unfortunately common is financial difficulty that can seriously impact a family’s entire standard of living. When debts and monetary setbacks become more than a couple can reasonably manage, bankruptcy is often considered. Bankruptcy can allow a couple a chance to start over without substantial debt or give them a ch[...]

Jacksonville Chapter 12 Bankruptcy Lawyer

The American family farmer is at the center of this country’s history and self-image. The independent farmer was the core element of Thomas Jefferson’s vision of democracy. He believed that independence of judgement was a by-product of the self-reliance that farmers exemplified. That vision is still an important part of America’s identity. Just ask any of the artists who performed at Farm Aid 2017. The legal system should be especially responsive to the needs and concerns of America’s fa[...]