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Will I Be Able to Buy a House After a Bankruptcy?
If you are facing financial difficulties significant enough to have you considering bankruptcy, you are probably dealing with numerous fears and uncertainties about the process. One of the most common concerns is whether doing so will keep you from buying a house in the future. The good news is that it is possible to buy a house after bankruptcy, but doing so will not necessarily be easy. Buying a house after filing for bankruptcy requires a good understanding of your financial standing, and that should start as soon as the bankruptcy is approved. Your goal is to rebuild your credit …Read More ➡
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Is Bankruptcy My Only Debt Relief Option?
For many people, bankruptcy is the best answer to overwhelming debt, but that is not true for everybody. If you are questioning whether you want to put yourself into the position of having a bankruptcy on your credit report for several years, you might want to consider some of these other debt relief options. Credit Counseling – For some people, out of control debt is less an issue of insufficient income and funds than it is simply not knowing how to manage their finances. If you fall into this category, then credit counseling can make a real difference. When you …Read More ➡
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Differences Between Corporate and Personal Bankruptcy
We tend to think of corporations as being very different from people – and they are, in a lot of ways. But there are also a lot of commonalities between individuals and businesses too, and one is that both can get into big money trouble. No matter whether you’re an individual or a corporation, if you get yourself into insurmountable debt you have the option of filing for bankruptcy. But there are significant differences in the types of bankruptcy available to each, as well as the rules for qualifying. When an individual can’t pay their bills, there are two options …Read More ➡
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How Best to Handle a Contested Divorce
In Pennsylvania the majority of couples manage to go through the divorce process relatively collaboratively, arguing about a few points but eventually allowing both partners to move forward with their lives. Unfortunately, there are some spouses who choose not to cooperate at all, refusing to sign off on divorce papers that are presented to them or engage in any way. This is called an uncontested divorce. If you suspect that your spouse is going to go this route, or if you have specifically been informed that is the case, here is how best to handle your situation. Though a contested …Read More ➡
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Are There Limits to Alimony?
When you’re anticipating or in the midst of a divorce, it is easy to get overwhelmed by the details and the various rules as they apply to equitable distribution, child custody, spousal support and alimony. Part of the confusion is a natural outcome of how many decisions need to be made in the midst of an extremely painful and emotional time, and part emanates from the fact that different states around the country have different laws. The state of New Jersey recently passed groundbreaking laws that put an end to permanent alimony and that make it easier to lower alimony …Read More ➡
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What Does a Bankruptcy Attorney Help With?
If the idea of bankruptcy has crossed your mind more than a few times, there’s a good chance that it’s something that you need to pursue. Maybe you’ve gone so far as to Google a few sites and articles to learn what is involved, then closed the computer again because the whole thing seemed too overwhelming. If that’s the case, or something close to it, then it’s time for you to seek guidance from a bankruptcy attorney. A bankruptcy attorney will help in many ways, starting with reviewing your situation and advising you as to whether bankruptcy is the right …Read More ➡
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How to Start Saving Money After a Bankruptcy
Going through bankruptcy proceedings is an emotionally exhausting, sometimes traumatic event. No matter whether you got into financial trouble through bad decisions or through no fault of your own (medical event, job loss, etc.), you still have had to go through the process of putting all of your assets, income and debt on display and agreeing to either an extended payment plan under Chapter 13 or the loss of some of your assets under Chapter 7. The good news is that once you’ve gone through the process you have the chance to make a fresh start, and that should begin …Read More ➡
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What Type of Bankruptcy is Best for Credit Card Debt?
Credit cards have unquestionably made our lives easier – and for some of us, it may have made life too easy. The temptation to simply reach into our pockets and pull out a card to pay for something we want can quickly lead to debt that gets beyond our ability to pay. If this has happened to you – whether as a lack of discipline or in response to a need that is out of your control (such as a job loss or illness), your best option may be to file for either Chapter 7 or Chapter 13 bankruptcy. The …Read More ➡
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How to Handle Quarantine if You’re Contemplating a Divorce
Ask anybody who has been through a challenging divorce about the day that they finally separated from their ex and they’re likely to say they felt a huge burden lift from their shoulders. Even those who express a sense of sorrow over their marriage ending also acknowledge the physical separation as an important day that represented the start of a new phase in their lives. For those who are contemplating a divorce in these days of quarantine and coronavirus, there is much less of a chance to have that landmark day come any time soon. Many already-unhappy couples are finding …Read More ➡
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Should I Consider a Mortgage Modification?
When you applied for your mortgage, you did so based upon your income and assets at the time. That was the same data that your mortgage lender used to approve your mortgage, and when all of the paperwork was done you knew exactly what your monthly payment would be. Though both sides entered that arrangement with the expectation that none of the basics would change, sometimes circumstances intervene and people fall on hard economic times. If that has happened to you, a mortgage modification may be worth your consideration. A mortgage modification allows you to change the terms of your …Read More ➡
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