Category Archives: Bankruptcy
The Fight to Discharge Student Loans
The National Association of Consumer Bankruptcy Attorneys (NACBA) is currently lobbying Congress in support of a bill aimed at letting debtors discharge private student loans during bankruptcy filings (federal loans would not be affected). Currently, it’s very difficult to get student loans discharged by bankruptcy court unless there’s a finding of “undue hardship.” However, courts […]
Medical Bills and Bankruptcy
A serious illness can result in serious medical bills. In fact, CNN reports that more than 60% of people who file for bankruptcy file because of overwhelming medical bills. Most of those who file for bankruptcy are middle-class, well-educated homeowners. And, three-quarters of the people with a medically-related bankruptcy had health insurance. It’s scary to […]
Pennsylvania Bankruptcy Exemption Laws
When filing for Chapter 7 or 13 bankruptcy, there are certain exemptions—assets or properties you are allowed to keep. Exemptions are different for each state, and if you’re thinking of filing for bankruptcy, it’s important to know the exemptions for our home state, Pennsylvania. Homestead No exemption for homestead property in Pennsylvania. However, if filer […]
Free Consultation – Fact or Fiction?
Many bankruptcy attorneys claim to provide a free consultation regarding your situation. The question is what is considered a consultation. This definition can vary wildly between attorneys. Currently, there is no regulation governing what a consultation may or may not cover, and for some it is extremely minimal. Some bankruptcy attorneys do not offer free […]
Searching High and Low: How Do I Find a Good Bankruptcy Attorney?
Finding a good bankruptcy attorney is like finding a good doctor. You may have to try a few before finding the right fit. But since we’re talking about your financial future here, it’s important to take the time to search out that correct fit. Here are some tips on finding a good bankruptcy attorney. Ask […]
Are There Any Alternatives to Bankruptcy?
To many people, filing for bankruptcy is an “either-or” proposition. Either they continue to struggle, living pay check to pay check and paying only the minimum payment or they file bankruptcy and assume they lose everything. They put it off as long as possible—sometimes to their own detriment. However, there are alternatives to bankruptcy, and […]
Child Support and Bankruptcy
If you are paying child support and considering filing bankruptcy, you may be wondering how bankruptcy will affect your ability to make payments. Alternatively, if you are receiving child support from someone who is about to file bankruptcy, you may be wondering if he or she will still have to make payments. Here are some […]
Common Budgetary Mistakes
There’s no one right way to do a household budget. It doesn’t really matter how you do it, just as long as it gets done. However, be careful you don’t fall into some of these common traps. Not planning for yearly expenses. When you make your budget, you put in your monthly expenses—groceries, electric […]
Bankruptcy Consultation – What You Need to Know
So, you’ve made an appointment for a consultation with a bankruptcy lawyer. Congratulations on taking the first step towards financial freedom! After you take some well-earned time to pat yourself on the back, you should start prepping for your visit. Do not go to your consultation meeting empty-handed. The more prepared you are, the more […]
Top Five Reasons for Family Financial Distress
Many times people find themselves in financially distressful situations but are not exactly sure how they got there. Often times it is a combination of factors that leads to this type of situation. If you are able to recognize this early on, you may be able to avoid the consequences that come with these dangerous […]
