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How Long Does a Chapter 13 Bankruptcy Take?
A Chapter 13 bankruptcy lets you reorganize secured debts such as car or house payments and some unsecured debts. It lets you repay some creditors at a lower rate and some for a longer period of time or a lower interest rate. The plans usually last from three to five years, but there are a lot of factors that can change the length of time. When a Chapter 13 bankruptcy payment plan is created, you stop paying your creditors. Instead, sending monthly payments to the trustee who is responsible for administering your bankruptcy. The length of the plan will be …Read More ➡
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Is Joint Physical Custody Best for Children after a Divorce?
When a couple makes the decision to end their marriage, it may be the end to long-standing problems but the beginning of all new ones. Though divorce is generally the low point of a relationship, it is also the baseline from which the couple will need to make some of the most consequential decisions they’ve ever made together, with decisions about custody being the most challenging of all. In most cases, both parents want what is best for their children, but each will have their own interpretation of what that actually is. One of the first questions they will have …Read More ➡
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What If I Decide Divorce is not the Right Choice After Filing?
To call divorce a big decision is the epitome of understatement. There are many very good reasons to end a marriage, and just as many very good reasons to reconsider. But what happens if you’ve gone so far as to hire an attorney, file the paperwork and tell your friends, family and colleagues. Isn’t it too late to turn back? The short answer is that it’s never too late. Not only do plenty of people reverse themselves and decide to give their marriage another chance, but there are a fair number of people who go through the entire process of …Read More ➡
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Does a Bankruptcy Stop Wage Garnishment?
Wage garnishment is a legal action that permits a creditor to have the sheriff or marshal contact your employer and order them to hold a certain percentage of your wages and send it to them. It can have a significant effect on your quality of life and ability to pay for fixed expenses, even though there are limits on how much can be held back. If you are struggling to make ends meet as a result of a wage garnishment imposed by a credit card company or other creditor, filing for bankruptcy is an effective way to have a wage …Read More ➡
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Does Everyone Need a Prenup?
Though most people prefer to take a more romantic view, at its base a marriage is a legal contract between two people, and that contract may last for a lifetime or it can be broken, just like any other arrangement. Having a prenuptial agreement adds a layer of protection for both partners, allowing them to agree to terms ahead of time in case the marriage should end up failing. As unromantic as this may sound, there is a good deal of wisdom to trying to come up with a fair agreement while you’re still in love and care about each …Read More ➡
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Are Medical Bills Wiped Out by a Chapter 7 Bankruptcy?
Over the last several decades, medical science has made dramatic strides, and many injuries and illnesses that would once have represented a death sentence are now treated as a matter of course. Unfortunately, astronomical costs have gone hand-in-hand with the improvements in skills and technology, and as a result, many people have found themselves grateful for their lives but saddled with overwhelming debt. If high medical bills have put you in a position where you are unable to pay any of your bills, you are not alone. Medical debt is among the most common reasons for people to file for …Read More ➡
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Finance Goals for a New Year after a Bankruptcy
Filing for bankruptcy offers you the opportunity to make a fresh start, so what better time to consider it than the New Year, which is well known as the time for making resolutions and improvements. The New Year is the perfect time to set yourself realistic financial goals that will put you on the path to a better financial future. Here are our top bankruptcy resolutions, for any time of year. Budget Smart budgeting is key. Maybe you’ve never given yourself a budget, or maybe the budget that you worked with before was not well crafted. Either way, after filing …Read More ➡
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Does Bankruptcy Ruin Your Credit?
When clients come to us seeking guidance about whether they should file for bankruptcy, they frequently express concern about the impact that doing so will have on their credit score, and their ability to get credit in the future. That is a valid concern. There is no doubt that bankruptcy will cause your credit score to plummet, but the truth is that being unable to pay your bills will do the same. When weighing your options, you need to fully understand the impact that filing for bankruptcy will have, in terms of both immediate impact and the long-term effect, as …Read More ➡
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Making Holidays Easier on Kids After a Divorce
To say that divorce is emotionally challenging — and often maddening — is an understatement, and that’s especially true when the couple has children. To say that the holidays can exacerbate an already vexing situation is obvious. The good news is that it doesn’t have to be that way. As a parent, one of the greatest gifts that you can give to your kids for the holidays is the ability to enjoy them in a pure and stress-free way, and there are several steps that you can take to make sure that happens. Here are some simple tips to help you …Read More ➡
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How to Handle Holiday Spending While Going Through a Bankruptcy
The holidays are the most expensive time of the year for most people. They come right on the heels of other expensive events, from back-to-school shopping and Halloween for those who have children to Thanksgiving with its big food and travel budget. By the time that Christmas, Hanukkah and New Year’s rolls around, the amount that we spend on entertaining and dressing up for holiday parties, traveling to visit family and friends, decorating and gift-giving adds up quickly. And it never seems to end. This is all a challenge for people who are financially stable but it’s a real frustration …Read More ➡
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