What Does Pre-Bankruptcy Planning Involve?
Pre-bankruptcy planning plays an important role when individual debtors are involved in bankruptcy cases. The aim is usually to devise a strategy and create an environment that increases the possibility of the bankruptcy’s success. Typically, this involves efforts to...
Where Does Debt Relief Stand In the Ongoing COVID-19 Crisis?
The COVID-19 pandemic resulted in the country’s unemployment rate to rise to 14.7% in April last year. It dropped to 6% by June 2021, but this figure still remains noticeably higher than the pre-pandemic 3.5%. Fortunately, federal and state governments as well as...
All You Need to Know About Bankruptcy and Foreclosure
Foreclosures and bankruptcies typically take place independently. While the former refers to the mechanism that lenders use to recover their dues upon default, the latter gives debtors means to eliminate their debts. In some instances, filing for bankruptcy can help...
Here’s What to Expect if You are Sued for Debt
Debt-related cases have grown to dominate the civil court's landscape over the last few decades. According to data released by Pew Charitable Trusts, the number of debt collection lawsuits increased from around 1.7 million in 1993 to around 4 million 20 years later....
Are You Involved in Landlord-Tenant Litigation?
A significant number of landlord-tenant disputes are resolved without making it to court. However, since disputes can range from minor to major, determining if you need legal representation early on might be in your best interest. If not, you might have to go through...
How Does Breach of Contract Litigation Work?
When two or more parties enter a contract, they are typically bound to fulfill certain obligations. If any one party fails to comply with or fulfill its contractual obligations, it leads to a breach of contract. Examples of breaches include non-performance, not...
6 Tips to Avoid Bankruptcy
The COVID-19 pandemic has shown that it does not take long for finances to go south. Fortunately, this has not reflected on the number of bankruptcies filed over the course of 2020. While 774,940 bankruptcy cases were filed in 2019, the number fell to 544,463 in 2020...
Dealing With Bankruptcy and Divorce at the Same Time
Dealing with bankruptcy and divorce during the same stage in life can be rather challenging. To keep things as simple as possible, it is best that you don’t overlap both. More often than not, couples who are in this predicament opt to file for bankruptcy before going...
Top Reasons Why Baby Boomers Are in Debt
Baby boomers across the U.S. carry significant debt. However, according to statistics released by Ameriprise Financial, less than half of them prioritize paying down their debt. In addition, more than 30% boomers who’ve retired carry at least one debt in addition to...
Why Is There a Rise in Bankruptcy Among Baby Boomers?
The number of baby boomers who file for bankruptcy has increased significantly in the last three decades. Only around 2% of all elders in the U.S. filed for bankruptcy in 1991, and the number stands at around 12% now. While bankruptcy can give people a fresh start if...
Can Baby Boomers Get Out of Debt Faster?
Baby boomers seem to be caught in a particular predicament. While they have relatively good credit scores, they are also burdened with considerable debt. If you find yourself in this situation and are nearing retirement, it is important that you take a close look at...
Can You Get a Mortgage After Chapter 7 Bankruptcy?
The simple answer to this question is yes. However, different aspects affect your ability to get a mortgage after a Chapter 7 bankruptcy ruling. These include the type of loan you seek, the time that has passed since the Chapter 7 discharge, and whether or not you...