The holiday season is a time of celebration, but for many people it’s a time of year that brings added financial pressure while they struggle to keep up with payments on their existing debt. If you use credit cards to buy Christmas gifts, with the expectation of filing for bankruptcy to get rid of those […]
Misperceptions
How Bankruptcy Affects Student Loan Debt and Car Loan Interest Rates
As a result of the recent rise of the prime rate, vehicle loans included in Chapter 13 bankruptcy plans can have a higher interest rate than in the past few years. Despite the resurgent economy, single mothers are still vulnerable to financial difficulties. Student loans cannot be eliminated by filing for bankruptcy, but one of […]
Bankruptcy Can Affect a Divorce Settlement / Advantages, Disadvantages, and Misunderstandings of Bankruptcy
You can use a Chapter 13 plan to catch up on child support arrearage or spousal maintenance support (alimony) arrearage. If you have received a Chapter 7 bankruptcy discharge, you may still be obligated to relinquish to the bankruptcy trustee assets you receive in the future, such as your next tax refund check, a pending […]
What if I’ve been sued for overdue debt?
If you have been sued for an overdue debt, you can presume that the creditor will try to get a judgment on that suit as quickly as possible. Once a judgment is entered, there will automatically be a judgment lien on any real estate that you own in the county of the suit, you will […]