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?”
Recently on our legal forum a user asked, “I thought if I didn’t pay my credit card bill that the credit card company would eventually write off the debt. Now I have found out that they have sold the debt to a collection agency and that agency has filed a suit against me. What do I need to do?”
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.”
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.”
Recently on our bankruptcy forum a user asked, “I have heard for years that I need a three to six-month emergency fund which can cover my living expenses., I have very high student loan debts, a $10,000 credit card bill and secured assets which are costing me a great deal of money. What are your thoughts? Should I pay off my debt or start to save for my emergency fund?”
Recently on our bankruptcy forum a user asked, “I have completed all the requirements for my bankruptcy filing. Now I find out that I have to complete a Pre-Discharge Debtor Education Course. I am wondering why I have to do this and why the government makes everyone jump through so many hoops to file for bankruptcy protection.”
Recently on our bankruptcy forum a user asked, “I am in a financial crisis. My spouse has divorced me, I need to find a job, and I am suffering from a severe medical condition. I have not worked in years, and I am scared. Additionally, I have over $50,000 in medical debts. I am thinking that my only option might be to file Chapter 7 bankruptcy. Do you have any bankruptcy tips for me or things I need to consider before I file?”
Filing bankruptcy is a very important decision. Unfortunately, because the stigma of filing bankruptcy has declined, many filers now file bankruptcy without considering the financial and long-term ramifications of their decision.
Bankruptcy is not for everyone. In fact, most debtors should find alternative means to resolve their financial crisis. Let’s look at six of the top things you need to consider before filing for bankruptcy protection.
Recently on our bankruptcy forum a user asked, “I took out a loan for $20,000. I lost my job and I have not been able to repay the loan company. I have tried contacting them and seeing if they will accept less than the amount owed, but they will not budge. Now they are threatening to take me to court. What are my options?”
There has been a lot of confusion and questions about reaffirming a loan for a secured asset during the bankruptcy process. This article is an attempt to help you better understand the reaffirmation process while going through the bankruptcy process. Continue reading