A Chapter 7 bankruptcy discharge can provide much-needed relief by allowing individuals to eliminate most of their unsecured debts and enable them to regain financial stability. However, not all not all Chapter 7 bankruptcy filings are successful. When you apply for a...
If you are making an estate plan, you may want to use a power of attorney. There are two main types to consider. The first is a financial power of attorney, which allows an agent to do things like accessing bank accounts, transferring real estate or paying taxes. The...
Individuals struggling with unsustainable levels of debt might eventually decide to file for bankruptcy. They then have to choose the type of bankruptcy they pursue based on their income levels, the type of debt they have and the assets they may own. For those with...
When a person files for bankruptcy, the court issues an automatic stay. This gives the filer a reprieve from the constant communication from debt collectors. Once the automatic stay is issued, creditors can’t make any collection attempts, including making demands...
Estate disputes can be highly problematic. In some cases, adult children never talk to one another again. This is why avoiding these disputes is one of the main goals for those who are drafting an estate plan. But disputes can and do happen, so it is also important...
Being buried in debt can be overwhelming and it may seem like you’ll never be debt-free. Late or missed payments can destroy your credit and make it difficult for you to get financing for a house or car. When things get bad, some people turn to bankruptcy for a fresh...
Filing for bankruptcy can impact a debtor’s ownership of certain personal assets, but only under highly specific circumstances. As a result, for pet owners, a common question (understandably) involves whether they could lose their beloved pet during the bankruptcy...
There is a lot you can do with an estate plan. The main intent of an estate plan is to control how your assets are managed after you pass away, but you can also plan out health care directives and child care. There are some things you may do that could create issues...
Filing for personal bankruptcy is a process that was traditionally associated with a sense of shame. However, this perception has – thankfully – shifted dramatically since the Great Recession of 2008. The opportunity to file for bankruptcy was created in recognition...
People who file for bankruptcy protection have usually tried everything else they can to get their finances under control. For those who take the step, one decision that has to be made is what type of bankruptcy they’ll file. Individuals who pass the means test for...
