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Critical Questions to Ask Your Bankruptcy Lawyer Before Filing

Critical Questions to Ask Your Bankruptcy Lawyer Before Filing

Regardless of how much you think you know about the bankruptcy process, it is often still a good idea to speak with a knowledgeable lawyer who can answer any questions you might have. Reviewing the facts with a knowledgeable attorney is also one of the best ways to make sure that you avoid any errors that could end up jeopardizing your bankruptcy case.   To better prepare you for the initial meeting with your bankruptcy attorney, this article reviews some critical questions you should ask[...]

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[...]

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[...]

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[...]

Veteran Disability Benefits Now Protected from Bankruptcy

  In August 2019, President Trump signed legislation that protects veterans’ disability benefits from being seized by creditors during bankruptcy proceedings. The sponsor of the bill commented that by protecting these benefits from creditors during bankruptcy, it is possible to help veterans and their families get back on their feet after financial hardships. This article takes a brief look at these recent changes as well as offers some helpful bankruptcy advice for veterans. The Impact o[...]

How are  Chapter 13 Bankruptcy Payments Calculated?

Beginning the Chapter 13 bankruptcy process often results in people experiencing many emotions concerning fear about what lies ahead. One of the best ways to reduce the negative feelings that you feel about the bankruptcy process is to learn as much as you can about it ahead of time. The following answers one of the most common questions that people ask about the bankruptcy process, which is how courts determine repayment plans for Chapter 13 bankruptcy. The Importance of Repayment Lengths Rep[...]

Supreme Court Issues Decisions About Bankruptcy Discharge Violations

In 2019, the Supreme Court issued a unanimous opinion establishing the standard that courts must follow to hold a creditor in civil contempt for violation of a bankruptcy discharge. Arriving at its decision, the Supreme Court rejected both the subjective and strict liability standards. As a result, courts are now permitted to hold a creditor in contempt for violating a discharge order only when there are no fair grounds of doubt as to whether the creditor’s conduct during discharge is lawful. [...]