Expert Bankruptcy & Debt Relief Insights

Imagine that a boy grows up watching lawyer shows like Perry Mason, L.A. Law, and Law and Order. He is intrigued by what lawyers do, especially trial lawyers. After years of watching, he is enamored. He has dreams of becoming a prosecutor or a defense attorney. He will appear before a judge and jury and…

People fall deep into debt for many reasons. It could be due to a loss of income, miscalculating future income, improper spending habits, or major life event. To provide a fresh start, the founding fathers created the bankruptcy clause in the Constitution. The bankruptcy concept was further developed over the years to include various chapters…

Many Americans carry significant student loan debt. In the beginning of 2017, there were 44 million people in the United States holding over $1.4 trillion in student loan debt. This number is greater than credit card debt by $620 billion. This is a 6% increase over 2016. What is more, there is a delinquency rate…

Imagine that Mike is driving his car on the highway. Mike is in a rush because he is late to his son’s graduation. In his haste, Mike accidentally cuts off Steve while Steve is trying to change lanes. This causes Steve’s car, which is a brand new Ferrari, to go out of control and slam…

Consumers face debt for numerous reasons. Debt can be due to loss of income, decrease in income, disaster, unchecked spending, and more. A significant source of debt is due to medical bills, often caused by weak or no insurance coverage. Some individuals with serious and exploratory conditions may seek alternative treatment that is not covered…

Internationally, many people view the United States of America as the land of opportunity, where anyone has the chance to obtain wealth. Many immigrants have come to these shores with nothing but the clothes on their backs and have succeeded at achieving the American dream. Millions of illegal immigrants have come to this country, as…

Under the United States Bankruptcy Code, or the Code, individuals who are in debt can attain debt relief through Chapter 7, 11, or 13. Most commonly, individuals will file for either a Chapter 7 or Chapter 13, while businesses commonly file Chapter 11. Nonetheless, under certain circumstances, individuals will utilize the Code through a Chapter…

The United States bankruptcy code provides the honest debtor with the ability to attain a fresh start. Provided that a debtor meets all applicable rules and standards of bankruptcy, he or she can first stop collections through the automatic stay and upon completion of the bankruptcy process, be discharged of debts owed. The automatic stay…

The devastating effects of divorce often intersect with bankruptcy law. Couples who reside together share certain costs, like housing, food, bills, and more. When people split and go their separate ways, such expenses are not shared, leading to an increase cost of living expenses. This increase intensifies financial stress, wherein the parties have increased living…

One feature of the Bankruptcy Abuse Prevention Creditor Protection Act, or BAPCPA, was the creation of the 341(a) meeting of the creditors. The purpose of this meeting is to allow the trustee to verify the accuracy of the bankruptcy petition and to give the creditors a forum to discuss the petition and ask questions. Every…