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Tag Archives: bankruptcy

Late Payments More Danger Than Bankruptcy

Generally, people spend their whole lives avoiding bankruptcy as a last resort. Bankruptcy is viewed as a public filing and has a stigma of shame behind it. Some people would rather continue to suffer through late payments on their accounts than face a real solution to the debt. A late payment can be very dangerous Continue Reading

Gymboree Declares Bankruptcy

Gymboree, the well-known children’s apparel store, has filed for bankruptcy on 6/11/2017. The bankruptcy filing is Gymboree’s strategic move to restructure their debt. Gymboree plans to continue to operate the business as it restructures. There are a few lessons to learn about debt and how to manage overwhelming debt when large companies file for bankruptcy. Continue Reading

Today’s Household Debt

Household Debt Composition Today Looks A Lot Different Than The Past Household debt has reached higher levels than before the Great Recession, but today’s debt has new characteristics that make it much more different than pre-recession times.  Home mortgages were a major factor in the debt crisis of 2007-2008.  Mortgage default in the following years Continue Reading

Is It Too Late To File Bankrupt?

Are You Out of Time? You’ve given up on paying your debt and balances are piling up with penalties and legal fees. At this point, you don’t see any hope in finding a solution to the debt, but you do have a business prospect coming very soon. There could be a significant amount of money Continue Reading

Paying Student Loans With Other Debt

Off the cuff, it might sound like a good idea to pay off a debt that cannot be discharged in a bankruptcy with another new debt that can be discharged in a bankruptcy, and then plan to file a bankruptcy to discharge the debt. Could you devise a plan like this just to avoid paying Continue Reading

Chapter 7 Requirements

When considering a Chapter 7 bankruptcy, you may wonder what information you need to provide to get a Chapter 7 filed. Maybe you haven’t kept good files or records of your finances. You might imagine that the required paperwork could be too much for you to handle. The surprising fact is that the Chapter 7 Continue Reading

Credit and Debt Tips For 2017

Managing and building credit and debt can be one of the most important aspects to pay attention to in adult life. Many times, we are thrown into a life of debt management immediately after graduation from high school or college. Student loans might be the first interaction with debt, but our relationship with debt will Continue Reading

The Worst Bankruptcy Advice We’ve Ever Heard

We are experts at providing bankruptcy advice, but we’ve also heard our fair share of advice that has been given to people from other sources. Here’s a collection of them for your amusement. Bad Bankruptcy Advice 1. Bankruptcy will ruin your credit Filing a bankruptcy does impact your credit score, but, if you are looking Continue Reading

Can A Creditor Object To A Discharge?

Creditors Can Fight Bankruptcy When a chapter 7 or chapter 13 bankruptcy is filed, does the debtor, the one who filed for bankruptcy, have an absolute right to a discharge of all the debts? Is a discharge of debt an automatic event that happens after a bankruptcy is filed? Unfortunately for the debtor, the creditor Continue Reading

US Bankruptcy Court Recommends Using an Attorney

If you’ve never been in court or have never dealt with any legal issues, a formal legal process for anything can be intimidating. There are a lot of complicated procedures to follow and you may feel powerless to the process. Law firms are usually there to help with very serious matters. Any good law firm Continue Reading