Category: Bankruptcy

Does bankruptcy disqualify you for a job? If you’re overwhelmed by debt and are considering the proactive step of filing for bankruptcy so you can get a fresh start, you may have several questions. One of these might be, “does bankruptcy disqualify you from a job?” In most situations, bankruptcy won’t affect your current employment. It is possible that in the future when you look for a new job, a potential employer could become aware of your bankruptcy on your credit record. Federal, state, and local government agencies are prohibited… CONTINUE READING

In the midst of all the chaos and uncertainty surrounding the coronavirus pandemic, some consumers are looking for ways to tighten their belts and prioritize finances.  For other consumers who were already behind on their bills, the virus could spell financial disaster.  This is especially true of workers who abruptly lost their jobs due to mandatory business shutdowns.  Experts say, at a time like this, it’s important to prioritize food, shelter, medical needs and utilities.  If absolutely necessary, you can hit the “pause” button temporarily on some other debts. Under… CONTINUE READING

Overwhelming debt can cause problems in all areas of your life, from being less productive at work to having money arguments at home that can lead to family breakdown. Adding to the stress is the accompanying harassment by creditors and the fear of repossession of your property and foreclosure on your home. If you are struggling to meet your consumer debts, you are not alone. Overall household debt stood at more than $13 trillion at the end of 2017, according to the Federal Reserve. That includes $8.8 trillion in mortgages, $1.4 trillion… CONTINUE READING

Contrary to commonly held beliefs about who files for bankruptcy, the average bankruptcy filer is not a free-spending celebrity or a crook trying to cheat the system, but an ordinary middle-class American. According to an analysis by Jonathan Fisher, a research scholar at the Stanford Center on Poverty and Inequality, “median income for bankruptcy filers is $42,000, which is $6,000 less than the national median.” Many of these individuals are hard working people who are struck by unexpected problems that hurt them financially. People are laid off, hit by major illness… CONTINUE READING

If your debts have become more than you can handle, the good news is that bankruptcy, a legal way to have many debts forgiven, can put you on the road to financial recovery.  If you’re a good candidate for bankruptcy, filing can keep creditors from harassing you and seizing your possessions, allow debts to be forgiven, and provide a way for you to keep your assets and begin to rebuild your life. However, the bankruptcy process is not simple and can be confusing. There are a number of steps you… CONTINUE READING

If your bills and debts are becoming overwhelming, you may be tempted by advertisements from debt-settlement companies claiming that they can talk your creditors into settling your unsecured debts for pennies on the dollar. This could be a big mistake. While debt settlement may work, debt-settlement companies are in business to make money, not to help you out.  If you are not careful, you could actually worsen your situation and wind up owing more due to added fees and interest charges. It makes much more sense to speak to a… CONTINUE READING