Chapter 7 bankruptcy and why it could be a mistake

Recently on our bankruptcy forum a user asked, “I have thousands of dollars of unsecured debt. I have talked to several people who tout the benefits of filing Chapter 7 bankruptcy. I know, however, that it cannot be all good. I need to know more about the downsides of filing Chapter 7 and whether it’s actually a good choice for me.”

Continue reading

Chapter 11 bankruptcy What do I need to know?

Recently on our bankruptcy forum a user asked, “I started a restaurant five years ago with a partner. Unfortunately, with competition and growing expenses we’re having trouble paying our bills. I need more information about filing Chapter 11 bankruptcy. I would love to keep the restaurant open, if possible.”

Continue reading

Steps to avoid a filing a second bankruptcy

Recently on our legal forum a user asked, “I have filed bankruptcy in the past. I am sorry to say, however, that I seem to have gotten myself in another financial crisis. I don’t want to have to file a second bankruptcy, but I am at a loss as to my next steps. Do you have any advice for me to avoid filing bankruptcy a second time?”

Continue reading

Debt collection top things to know

Recently on our legal forum a user asked, “I owe thousands of dollars to different credit card companies. I also have $50,000 of medical debt. I think the debt must have been sold to a third part debt collector because the debt collection calls have become relentless. I cannot answer the phone anymore. I am really scared. I want my life back. Can you help me?”

Continue reading

Will My DUI injury judgment be Discharged in Bankruptcy?

Recently on our bankruptcy forum a user asked, “I was injured in a severe car accident. The driver was intoxicated. I will never walk again. I just found out that the driver is filing bankruptcy. I am concerned about my DUI injury judgment. Can this be discharged in Chapter 7 bankruptcy? I filed a DUI injury claim against the driver because they did not have insurance to cover the expense of my injuries.”

Continue reading

Top 5 tips for saving money and improving your life

Recently on our forum a user asked, “I find myself on the brink of financial disaster for the second time in my life. I am only thirty years old. I have a decent paying job. I am at a loss. I am wondering if you can give me any tips for saving money and re-establishing financial control before I have to declare bankruptcy a second time.”

Continue reading

How do I stop a creditor lawsuit before it’s filed?

Recently on our legal forum a user asked, “I am in a bit of a bind. I got very sick and could not work. I had to stay in the hospital for several weeks without insurance. We scrapped together a bit of money but most of the charges ended up on our credit card. Now, the credit card company and hospital are threatening to file a creditor lawsuit against me. I still cannot work. What are my options?”

Continue reading