Bankruptcy is a difficult process that has long-term implications on your financial situation, so it's not something to jump into blindly. But if you've evaluated all your options and determined that bankruptcy is your best chance for a fresh start, then you should pick the smartest time to file and go through the entire process correctly. http://bit.ly/2AZfOvM
FOOL.COM
How Bankruptcies Work | The Ascent
A Tenth Circuit ruling that some types of private student loan debts can be wiped out in #bankruptcy could broaden options for struggling debtors and prompt re-opening of some old bankruptcy cases. The decision doesn’t apply to government-backed loans or other “qualified” student loans, which make up the vast majority of typical student loans. https://bit.ly/3gT9Sap
NEWS.BLOOMBERGLAW.COM
Private Student Loan Debtors Win Limited Bankruptcy Reprieve (1)
In bankruptcy, certain property can be exempt from being sold to repay your creditors, while other property is not. The property that is not exempt is called your nonexempt assets.
THEBALANCE.COM
Identifying Nonexempt Assests in Bankruptcy
Filing for bankruptcy may help when you have more debt than you can handle. Chapter 7 wipes out many kinds of debts, while chapter 13 allows you to make lower payments as part of a repayment plan. A bankruptcy attorney can help you determine which option is right for you.
There are processes you can follow to attempt to have your student loans discharged, but you will have to prove that you are facing something called “undue hardship” to qualify. https://bit.ly/3iMqMZJ
BANKRATE.COM
Filing For Bankruptcy For Student Loans: What You Need To Know | Bankrate
Once federal benefits dry up, experts say consumer bankruptcy filings could start to rise. https://nyti.ms/2QhgfJP
NYTIMES.COM
Federal Aid Has So Far Averted Personal Bankruptcies, but Trouble Looms
Many people could benefit from bankruptcy relief but don't file because of fear, myths or misplaced optimism. https://bit.ly/2SdEklE
NERDWALLET.COM
Fear of Bankruptcy Holds Too Many People Back - NerdWallet
If you’re dealing with old debt, make sure you’re taking the right steps to avoid starting over. https://bit.ly/33SFjNr
BANKRATE.COM
Resetting The Clock On Old Debt | Bankrate
The number of people filing for bankruptcy could set records next year. And, while bankruptcy reform artificially spurred the 2005 record of nearly 2.1 million cases filed, this peak will be all about the reality of a Covid-19-blasted economy. https://bit.ly/3hYggxi
FORBES.COM
After The Covid-19 Deluge, A Bankruptcy Tidal Wave?
Two-thirds of those who file for bankruptcy cite medical issues as a factor, according to a study last year in the American Journal of Public Health. https://bit.ly/35Q9JCM
USATODAY.COM
'This is going to bankrupt me': Americans rack up $45B worth of medical debt in collections
Bankruptcy is a legal process that lets people or entities who can't pay their debts obtain some type of relief by having those debts either reorganized or eliminated. https://bit.ly/32KgG64
FOOL.COM
How Bankruptcies Work | The Ascent
Although a bankruptcy filing remains on your credit report for up to a decade, the situation is not quite as bad as it seems. The effect on your credit will diminish over time until it drops off your report completely. https://yhoo.it/35Ee2zp
NEWS.YAHOO.COM
Bankruptcies are expected to surge — but a filing isn't fatal to your credit
If your financial situation has you feeling like there is no light at the end of the tunnel, you may be considering filing for bankruptcy. http://bit.ly/32J7nkt
RD.COM
What Really Happens When You File for Bankruptcy?
Recovery from bankruptcy is a step-by-step and often gradual process, and is best achieved by personally committing to good, healthy, financial practices. https://yhoo.it/32sGEZi
FINANCE.YAHOO.COM
How to Bounce Back From Bankruptcy in 5 Easy Steps
Bankruptcy gives over 700,000 debtors a fresh start every year. Bills for credit cards and medical expenses can be wiped away by a few strokes of a judge’s pen, and debts that don’t vanish are reduced. But student loan debts don’t go away as easily. https://nyti.ms/35pwblg
NYTIMES.COM
For Millions Deep in Student Loan Debt, Bankruptcy Is No Easy Fix
Bankruptcy is often a topic that makes people feel ashamed, insecure, anxious or guilty. The truth is, like any other financial transaction, it’s just business. https://bloom.bg/3pjqJIH
BLOOMBERG.COM
The Ultimate Guide to Personal Bankruptcy in America
The #bankruptcy means test determines who can file for debt forgiveness through Chapter 7 bankruptcy.
NERDWALLET.COM
The Bankruptcy Means Test: What It Is, Why It Matters - NerdWallet
Before you sign a reaffirmation agreement, it’s a good idea to consult a bankruptcy attorney. An experienced attorney can help you determine if it’s the right fit for you and, if it is, make sure that you do everything correctly and in your best interests. https://bit.ly/3trpr0e
BANKRATE.COM
What Is A Reaffirmation Agreement? | Bankrate
Falling behind on your mortgage? Let's walk you through all the options! Give us a call 813-231-2088
ABCACTIONNEWS.COM
Counsel's Corner, Debt Relief
Bankruptcy will stay on your record for up to seven years to 10 years, depending on what chapter you file. The good news, however, is that you can establish good credit even with a bankruptcy filing on your record. https://bit.ly/2FBtLQC
FOOL.COM
How to Rebuild Credit After Bankruptcy | The Motley Fool
Are you facing a mountain of debt and not making any progress surmounting it? Bankruptcy may be the tool you need to get over the hump.
NERDWALLET.COM
What Is Bankruptcy? - NerdWallet
Before taking the big leap into bankruptcy, consult a bankruptcy attorney and learn the facts about how credit scores treat bankruptcy. You just may be able to minimize the damage and get a jump on re-establishing your credit after filing.
MARKETWATCH.COM
7 common myths about how bankruptcy affects credit
Our Managing Partner, Alan Borden, giving some timely advice on ABC Action News!
ABCACTIONNEWS.COM
Counsel's Corner, Debt Relief
