The Bankruptcy “Means Test”: What it Means?

2020-11-30T23:39:43+00:00November 30th, 2020|

In a nutshell, the bankruptcy means test determines whether you're eligible to file for Chapter 7 bankruptcy. Like most things in life, however, it's not that simple—the means test factors in a couple underlying "tests" to determine your ultimate eligibility. The underlying factors include things [...]

Is a Fear of Bankruptcy Holding You Back?

2020-11-11T00:00:04+00:00November 10th, 2020|

According to data collected from the 2019 U.S. Census, Americans are in debt by an average of $90,460. Gen Xers have the highest amount of debt at an average of $135,84. Gen Z, which only comprises ages 18-23 in terms of their ability to obtain [...]

Can Filing for Bankruptcy Save Your Small Business?

2020-10-23T17:21:01+00:00October 23rd, 2020|

An August 2020 survey by the U.S. Census Bureau that measures the pulse of small businesses in the U.S. revealed that nearly 75% of its respondents report a moderate-to-large negative impact due to the Covid-19 pandemic. The data collected in October also revealed that many [...]

When Does Bankruptcy Leave Your Credit Report?

2020-10-08T21:50:36+00:00October 8th, 2020|

Covid-19 is still going strong, and so is the economic fallout. Most banks are expecting billions in fourth-quarter losses. The retail and hospitality industries have seen store closures and bankruptcy filings, and many expect personal bankruptcies to rise. Filing personal bankruptcy means you get immediate [...]

Keeping a Car Loan Through Bankruptcy

2020-09-24T00:27:21+00:00September 24th, 2020|

2020 is the year of Murphy's Law in many ways, and Covid-19 is no exception. Bankruptcy filings are increasing, and more may be on the precipice. If you're considering filing for bankruptcy, you may have a lot of questions. A common question that often comes up [...]

Will Personal Bankruptcies Rise Due to Covid?

2020-09-10T21:54:43+00:00September 10th, 2020|

In our last blog, we talked about all the business bankruptcies among various industries occurring as a result of the Covid-19 crisis. As unfortunate as those bankruptcies are, we wish we could say that the financial fallout is limited to businesses, but that is simply [...]

Is There Such a Thing as Good Debt? Good Debt Vs. Bad Debt

2020-08-21T18:36:49+00:00August 21st, 2020|

Is there such a thing as good debt? That depends on who you ask. To Dave Ramsey, a prominent radio show host, author, and businessman, there is no such thing as good debt. He argues that even mortgages and student loans are unacceptable because all debt keeps [...]

Disputing Credit Errors: What You Should Know

2020-07-24T20:45:17+00:00July 24th, 2020|

Your credit score is important because it determines your ability to obtain credit for a home, automobile, and more. It can even play a role in whether or not you can land certain jobs. If you know that you have a poor credit report or [...]

Special Types of Debt in Bankruptcy

2020-06-29T20:25:07+00:00June 29th, 2020|

With everything going on in the world today it is sometimes hard to figure what to do when you are feeling financially overwhelmed. When you have past due bills you cannot afford piling up, a professional debt lawyer can provide more information about how a [...]