Bankruptcy

Filing for divorce is a life-changing event. If you suffer some other setbacks during the proceedings, you may need to consider filing for bankruptcy while getting divorced. You might be unsure how this works, though. Typically the automatic stay goes into effect if you file bankruptcy. However, the automatic stay specifically except proceedings to enter…

According to the Administrative Office of the U.S. Courts, bankruptcy filings increased by almost 17% from 2022 to 2023. Nearly 388,000 bankruptcies were filed in 2022, compared to about 453,000 in 2023. Around 434,000 of these bankruptcy filings were connected to consumer debt. Is filing for consumer bankruptcy in your future? If so, make sure you know…

Many people know that filing for bankruptcy can impact their lives for years. However, it is often the best way out of a bad financial situation. But why do most people declare bankruptcy in the first place? This post covers eight common reasons individuals file for bankruptcy.  1. Loss of Income Whether purchasing a car,…

A recent statistic published by the United States Courts shows that of the more than 413,000 bankruptcy filings nationwide that year, more than 120,000 were Chapter 13 ones. This is less than half the amount (which was more than 288,000) filed for Chapter 7 bankruptcy that year. Chapter 13 bankruptcy is, thus, the second-most popular…

Individuals and businesses who are facing hard financial times often consider bankruptcy when looking for debt relief. While Chapters 7, 11,  and 13 may resonate with you as different bankruptcy chapters you’ve heard of, many individuals aren’t clear as to the differences between these cases. Even fewer realize that there are far more types of…

You and your husband or wife have decided to end your marriage. You’ve been separated for some time and have been trying to broker an out-of-court settlement in your case instead of a family court judge making those decisions for you. However, now you’ve gotten wind of the fact that your ex is taking debt…

Most everyone has heard of Chapter 7, 11, and 13 bankruptcy. However, there are lesser-known chapters of the bankruptcy code, including Chapter 12 bankruptcy, that you might not be as familiar with that is appropriate for a unique class of debtors – family farmers and fishermen. Continue reading, and we’ll discuss more regarding what a…