Tag Archives: debt
Avoid These Pitfalls When Filing for Bankruptcy
When you are in financial trouble, do not wait until the last minute to seek legal help. Some careful planning and working with a skilled bankruptcy lawyer can help you avoid certain pitfalls related to bankruptcy. Working ahead, at least several months before filing is often to your advantage. Here are common errors that can […]
Forgive Us Our Debts, As We Forgive Our Debtors
The idea of forgiving debts is not a new one. It arose centuries ago during biblical times. Despite the social stigma often associated with filing bankruptcy, the United States, which was founded as a Judeo-Christian nation, draws on a rich religious heritage of showing compassion for debtors. During the time of Moses, the Israelites were […]
Harrisburg’s City Debt on Hold for Bankruptcy Ban
Times have been tough for everyone since the financial crisis nearly five years ago, and inescapable debt has become a fact of life for many people, businesses and even municipalities. Pennsylvania’s capital city of Harrisburg is currently under the specter of bankruptcy. The governor plans to sign a bill extending a bankruptcy filing ban, currently […]
Personal Bankruptcies Dropped During 2011
According to a report by Professor Ronald Mann of Columbia Law School for the National Bankruptcy Research Center, the number of Americans who filed for bankruptcy fell from 1.5 million in 2010 to 1.35 million in 2011, a 12% decrease. Chapter 7 filings dropped by 17% and Chapter 13 filings dropped by 25%. This decline […]
Does My Spouse Have to File Bankruptcy Too?
The simple answer is no. Only one spouse has to file for personal bankruptcy. However, there are a number of qualifications to this rule. First, if you are considering filing bankruptcy alone in order to conceal the high salary of your spouse, stop right there. As a married bankruptcy petitioner, you will be required to […]
When Should I Disclose My Bankruptcy?
Bankruptcy is one of life’s more distressing and emotional events. Once it’s over, you will likely want to put it all behind you and never really think about it again. Unfortunately, at least for a while, you are going to have to sometimes disclose your bankruptcy. You certainly don’t have to tell everyone you meet […]
What Happens if I Can’t Pay My Student Loans?
If you’re falling behind on your student loans, you may be worried that your wages will be garnished or your tax refund will be taken. Bankruptcy no longer erases student loans, but there are other ways to address the situation. Even if you’re having financial problems, it’s important to keep paying your student loans. You […]
Getting it All on Paper – How to Make a Budget
Congratulations! You’ve decided to make a budget. This is an important first step on the way to financial freedom. But where to start? It can seem overwhelming at first. But if you take it step-by-step, it’s relatively painless. There are many computer programs that will walk you through creating a budget, or you can make […]
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 […]
Watch Out For That Holiday Debt
Even though the holidays are over, it’s never too early to get ready for next year. During the holidays, many people fall into debt, but with careful planning, you can get through without financial worry. I recently spoke to the Daily American newspaper about the growing problem of holiday—and everyday—debt. If you find yourself falling […]
