Sawin & Shea

AUGUST 2, 2023

The good news – the light at the end of the tunnel – is that there is an excellent way to ease these fiscal-related woes: filing for bankruptcy. What is the Best Time to File for Bankruptcy? Many people ask, when should you file for bankruptcy? There are many reasons someone might file for bankruptcy.

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Sawin & Shea

MARCH 6, 2024

Being overwhelmed by debt is a stressful situation that can make it challenging to decide on the best path forward. Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debt consolidation. However, it’s important to remember that this does not eliminate debt.

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Titan Consulting

SEPTEMBER 22, 2020

Multiple state and federal agencies strictly regulate the debt settlement industry. All types of debt relief programs come with negative consequences, including non-profit credit counseling and bankruptcy, and will directly or indirectly negatively impact your credit score. CFPB Oversight.

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Sawin & Shea

MARCH 27, 2024

Filing for bankruptcy can feel incredibly daunting, especially if you have concerns over whether it may impact your future job prospects. The sad reality is that many people hold misconceptions regarding bankruptcy filers. They believe those declaring bankruptcy are irresponsible or bad with money. What Is Chapter 7 Bankruptcy?

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Hudson Weir

SEPTEMBER 4, 2023

If you’re struggling with personal debt, you may be searching online for ‘debt relief order UK’ looking for a solution to your troubles. At the time of writing you cannot currently apply for a debt relief order (a DRO) in Northern Ireland, or Scotland where the Minimal Asset Process is arguably the nearest equivalent.

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Sawin & Shea

APRIL 3, 2024

Filing for bankruptcy is a great financial option for those struggling with cumbersome debt. It enables you to discharge eligible debts, such as credit card and medical debt, so that you can live with a fresh start in the future. How Will Filing Bankruptcy Impact My Professional License?

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Credit Corp

APRIL 26, 2024

A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. The 1099 c form helps the IRS account for canceled debts from the previous tax year. The 1099-C cancellation of debt form deals with canceled or forgiven debt from the previous tax year. Your mortgage is modified.

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Roths Child Law

JULY 17, 2023

People are often grateful for the relief provided by the automatic stay that the court grants when they file for bankruptcy. However, the primary purpose of an individual’s bankruptcy process is usually the discharge of someone's eligible unsecured debts.

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Credit Corp

JUNE 14, 2023

How long someone has bad credit depends on how long they continue to create negative credit activity. Almost as soon as you start making credit-improving moves, you may see positive impacts in your score. However, old negative activity can still haunt your report for a while after you start improving your credit situation.

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Sawin & Shea

JANUARY 11, 2024

Staring down mountains of debt can feel overwhelming. Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Bankruptcy filings for both individuals and businesses are on the rise.

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Sawin & Shea

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy.

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Roths Child Law

NOVEMBER 29, 2023

About half (52%) of the consumers in this nation racked up some credit card debt during the 2022 holiday season, and 31% still haven’t paid those bills off. About 74% of shoppers expect to break out their credit cards this year, too. It can be incredibly difficult to get out of a debt trap once you get in one.

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Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. You must qualify to file for bankruptcy, and your income must meet an income means test. The Bankruptcy Option. Filing personal bankruptcy typically involves either a Chapter 7 or Chapter 13. Key Takeaways.

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Roths Child Law

JANUARY 31, 2023

If you are struggling to pay your debts, you have a number of options at your disposal. If these options are not possible, you may consider filing for bankruptcy. No matter how you handle it, bankruptcy can have a lasting impact on your life. And if you mismanage it, bankruptcy can compound your financial woes.

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Sawin & Shea

OCTOBER 11, 2023

People file for bankruptcy for any number of reasons, from job loss, to unpaid medical bills , to sky-high credit card bills. And it’s not an uncommon event either– roughly 375,000 people filed for bankruptcy in 2022 alone. There are some debts that filing for bankruptcy will not discharge.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff A bankruptcy discharge order absolves debtors of their pre-bankruptcy debts and seeks to provide debtors with a fresh start to their financial life. 2] Prior to her bankruptcy case, Bruce stopped paying her Citi credit card bill.

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Debt Guru

AUGUST 30, 2021

When your voicemail is filled with messages from collection agencies and stacks of bills arrive in your mailbox that you have no chance of paying, it’s time for some serious debt relief help. But before you seek relief from a professional, you should understand your options. So, when should you seriously consider debt relief?

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Roths Child Law

MAY 15, 2022

Now that you have survived your Chapter 7 bankruptcy, you probably plan to rebuild your credit and improve your credit score. If you take the wrong approach to this goal, you could end up in the same situation you were in before your bankruptcy filing. Avoid all new debt. Avoid checking your credit score.

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Direct Recovery

APRIL 17, 2023

If you’re drowning in debt, you might feel like you are all alone with no way out. California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions on whether it might be a good option for them.

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Debt Free Colorado

FEBRUARY 17, 2023

Filing Bankruptcy for A Fresh Start in Colorado Whether you’ve lost your job or experienced insurmountable medical expenses on your credit card, or incessant calls from your creditors, you can get a fresh start by declaring bankruptcy. A bankruptcy discharge is a moment when you are no longer liable for any debt.

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Albuquerque Law

FEBRUARY 3, 2021

In today’s world, it is not difficult for debt to spiral and become a major dilemma. Perhaps you can make the minimum payments on your credit card and other pressing loans, but debt can still pile up quickly and become unmanageable. Many people in this situation worry about whether they can still file bankruptcy.

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Debt Free Colorado

FEBRUARY 21, 2022

Debt Relief Attorney Serving Colorado. Bankruptcy may appear to be a scary process, but it does not have to be. Dray Legal Office’s attorneys will endeavor to help you obtain a fresh start by eliminating debt and reorganizing your finances. Does Colorado Law Protect Me From Debt Collectors?

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Collection Industry News

JANUARY 13, 2024

household debt grew by $800 million from 2022 to 2023, including a 16.6% growth in credit card debt. While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S.

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Sawin & Shea

AUGUST 23, 2023

How will I get under my debt? If worries about debt resonate with you, again, you’re not alone. The typical American household carries an average of $101,915 of debt contributing to a staggering $17 trillion of personal debt as a nation as of the end of 2023’s first quarter. Which Bankruptcy Clears All Debt?

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Credit Corp

MAY 17, 2021

The American Rescue Plan Act is a federal law that was passed to help provide a third round of relief to Americans during the COVID-19 crisis. But those who are struggling with debt might wonder: Can my stimulus check be garnished for credit card debt or other money owed. Federal or State Tax Debt: No.

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Sawin & Shea

SEPTEMBER 27, 2023

Filing for bankruptcy can provide you with a much-needed second chance when it comes to your finances. If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. What is Chapter 7 Bankruptcy?

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Debt Free Colorado

DECEMBER 30, 2023

Bankruptcy is Not Always Disadvantageous for Your Retirement Savings In today’s economic landscape, unforeseen challenges can lead individuals to consider bankruptcy as a viable option. One crucial aspect that often concerns people contemplating bankruptcy is the fate of their retirement savings.

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Nexa Collect

JULY 1, 2020

Why Is Good Credit Necessary? One such convention is our credit score and history which substantiates our personal financial viability and helps us access funds for our plans in life. They arose out of a need to determine the average American’s chances and eligibility for credit, and their financial well-being. In the U.S.

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Albuquerque Law

MARCH 11, 2021

Receiving the discharge letter after navigating the bankruptcy process can bring a great feeling of relief. After all, the discharge of your debts is the goal, so you can obtain a fresh start. This file should generally include: A copy of your bankruptcy filing. Copies of the documents in your bankruptcy petition.

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Sawin & Shea

MARCH 9, 2021

in 2020 due to the COVID-19 crisis, it came as a huge relief for millions of people. But for those contemplating bankruptcy, it brought a new worry. Will bankruptcy take away my stimulus check?”. This has become a common question for bankruptcy attorneys across the nation. What About an Additional Stimulus Check?

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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Titan Consulting

JULY 22, 2020

Interest rates have dropped to historic lows, making now a great time to refinance or take out a Home Equity Line of Credit (HELOC). Lower interest rates mean saving on variable rate loans like credit card balances and HELOCS. What do Low-Interest Rates mean for Your Credit? Lower rates help in times of crisis.

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Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Coronavirus Car Payment Relief Programs. Guide to Coronavirus Mortgage Relief Options. Credit Cards. Experian Credit Card and Debt Relief List.

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True Accord

OCTOBER 10, 2023

Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. Tighter credit conditions will likely impact economic activity, hiring and inflation, but the extent of these effects is unpredictable.

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Credit Corp

FEBRUARY 9, 2024

Understanding what you can do if your house is in foreclosure can help you mitigate the damage done to your credit and overall financial health. They can then sell your house to help repay the debt you owe on it. Service member relief. File for bankruptcy. What Is Foreclosure? This is the actual day of foreclosure.

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Titan Consulting

SEPTEMBER 15, 2020

Financial hardship could make it possible to negotiate debt balances and pay less than the full amount owed. Bankruptcy can wipe out unsecured bills, leaving creditors with no way to recover the debt. When Should You Consider a Debt Settlement Program ? The Consequences of Debt Settlement.

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Roths Child Law

JUNE 28, 2021

Bankruptcy may be one of the last things on your mind if everything is going well in your life. You may feel financially stable, have a good-paying job, and not have too much personal debt. . Common life events that may lead to bankruptcy. Medical bills are one of the most common reasons for declaring bankruptcy.

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