Blog

In financially trying times, particularly those worsened by the coronavirus pandemic, you may be considering bankruptcy. But what kind of bankruptcy is best for your unique situation? Many experts recommend taking a serious look at Chapter 7. Here is why. Advantages of Chapter 7 In general, bankruptcy provides protection from debt collectors, wipes out most...

The coronavirus crisis has harmed countless businesses, leaving many owners considering whether to file for bankruptcy. According to CNBC, bankruptcy attorneys are bracing for a wave of filings. Some business owners are waiting to see if they can survive through the restrictions related to COVID-19, the illness caused by the coronavirus. Many experts believe bankruptcy...

The Coronavirus (COVID-19) pandemic has wreaked havoc financially on many people throughout the United States. Since the Coronavirus pandemic started sweeping the country in early March, more than 22 million people nationwide have lost their jobs, pushing the unemployment rate to 16.1 percent, according to The Wall Street Journal. As a result, large numbers of...

South Carolina ‘No Money Down’ Chapter 7 Bankruptcy Lawyers Explain What to Expect Many law firms around the country expect a sharp rise in the number of bankruptcy filings due to the ongoing Coronavirus pandemic, according to a recent article by Law.com and The American Lawyer. As a result, many law firms have been making...

Hounded by debt collectors. Using loans to pay loans. Those are among the signs that filing for bankruptcy might be the answer to your money problems. Filing for bankruptcy is a United States government-protected path for individuals and businesses who owe more money than the net worth of their assets. Bankruptcy is a legal process...

We previously discussed efforts by U.S. lawmakers to push legislation to allow student loan debt to be discharged in bankruptcy. The Student Borrower Bankruptcy Relief Act of 2019 was introduced by Senator Dick Durbin (D-Illinois) and gained the support of Democratic presidential contender Elizabeth Warren. Recently, Warren proposed a more universal overhaul to U.S. personal bankruptcy...

Who was more likely to file for bankruptcy in 2019, a single or married person? What about people with college degrees? What about residents of southern states? Research published in The Ascent, from The Motley Fool, answers those questions and more. The report, Personal Bankruptcy Statistics 2019, examines interesting trends, including the fact that bankruptcies...

  You may be struggling to pay your bills and considering filing for bankruptcy as a way to get a fresh start. Bankruptcy can wipe out most of your debts, but there’s a notable exception: student loan debt. Unfortunately, it’s almost impossible to wipe out student loan debt through bankruptcy. According to Business Insider, about one-third...

Struggling to pay bills, middle-class Americans are getting exploited by a new kind of lending called the online installment loan. The “red-hot industry” has spawned about $50 billion in debt in a practice that handcuffs borrowers with terms of 40-60 months and interest rates as high as 155 percent, according to Bloomberg. Installment loans appeal...

You've already filed a Chapter 7 or Chapter 13 bankruptcy but you've found yourself in another heap of debt, unable to meet your obligations to your debtors. You may be wondering if bankruptcy is still an option. The answer is yes, but filing a second or subsequent bankruptcy comes with implications. Here's what you should know....