Blog

Dec. 7, 2023

Reverse mortgages and bankruptcy are two complex financial concepts interconnected in various ways. A reverse mortgage allows homeowners, typically elder ones, to convert part of their home's equity into cash, providing financial stability. However, when financial hardship intensifies, leading to bankruptcy, the interaction between these two becomes critical.

Nov. 10, 2023

In the business world, there's no such thing as guaranteed smooth sailing. We all know that owning a business can be a rollercoaster ride with its ups and downs. There are times when financial hurdles become so overwhelming that bankruptcy becomes a necessary consideration.

Oct. 24, 2023

Are you considering filing for bankruptcy but worried that it will have an effect on your Social Security income? You’re not alone. Many people worry that bankruptcy will make them ineligible for benefits, and as a result, they put off taking action until their financial situation worsens beyond repair.

Sept. 21, 2023

Filing for bankruptcy is a serious step toward a more solid financial future. For many people, bankruptcy may be the only option to get out from under crushing debt. However, in some cases, the person who files for bankruptcy may not be the only one affected by the process.

Aug. 28, 2023

Chapter 13 bankruptcy allows you to consolidate and restructure your debt and pay your creditors back on your own terms within three to five years. However, completing your repayment plan under Chapter 13 is not always easy.

July 21, 2023

Do you owe back taxes to the Internal Revenue Service (IRS) and wonder if filing for bankruptcy can make your tax debt go away? Millions of Americans owe back taxes, and filing for bankruptcy is often one of the options to clear tax debt. However, everyone’s situation is unique, which is why you may not know which chapter to choose if your goal is to eliminate tax debt.

June 8, 2023

Understandably, people have a lot of apprehension and questions when they’re considering filing for bankruptcy. While this is a big decision to make, it doesn’t have to be a scary one, and in almost all cases, you’ll be better off financially after the process is completed.

May 11, 2023

If you’re already in the process of completing a Chapter 13 bankruptcy repayment plan, you know how hard it was to get to this point. Also, you recognize the importance of addressing your financial issues in a way that will set you up for future success.

April 26, 2023

There’s never an ideal time to file for bankruptcy, regardless of your situation. It will always be a hard decision where you’ll have to weigh both the costs and benefits carefully. This becomes especially difficult if you’re considering filing as an individual but wonder, “Will bankruptcy negatively affect my business?” or “How can I protect my business during personal bankruptcy?” These are important questions to answer, and it can be incredibly helpful to meet with a bankruptcy attorney for advice.

March 27, 2023

Bankruptcy is among the promising solutions to achieve debt relief when facing financial hardship. Depending on the bankruptcy chapter you're filing for, the trustee will use the net proceeds from the sale of nonexempt assets or your disposable income to offset your debts and pay your creditors.