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Category Archives: Bankruptcy Alternatives

Putting an End to Debt Collector Harassment

Anyone can fall behind on their bills. And creditors certainly have the right to let you know that you are behind on payment and to ascertain whether you intend to pay your bills at all. But creditors do not have the right to harass you in any of the following ways: Using foul or obscene… Read More »

What is Foreclosure and How Do You Avoid It?

Banks initiate foreclosure on homes in an effort to recover the outstanding balance on a mortgage or loan on which the borrower has stopped making payments. Mortgages and other home loans are categorized as secured loans — loans taken against specific, physical collateral. If you fall too far behind on your loan payments, the lender… Read More »

How is Chapter 11 Different for Small Businesses?

Unlike Chapter 11 bankruptcy cases that involve medium to large businesses, the U.S. Trustee is more involved in overseeing the case with a small business Chapter 11.  Early on, the debtor must attend an initial interview where the trustee evaluates the small business’s viability, the debtor’s business plan, and the debtor’s responsibility to file certain… Read More »

Timing Your Bankruptcy Filing

The saying timing is everything has merit for many situations in life and also holds true for filing bankruptcy.  It is important not to wait too long until your world comes crashing down on you before resorting to bankruptcy.  However, filing too soon may also deprive you of many advantages.  Discussing your finances with a… Read More »

What Is Wage Garnishment and How Can Bankruptcy Help?

If you owe money, it may come as a surprise to find out that a creditor can garnish your wages, leaving you to take home a smaller paycheck.  When debt mounts up and creditors become serious about collection efforts, they sometimes resort to garnishment. Wage garnishment is a court order that allows a creditor to… Read More »

Avoiding Credit Repair Scams

As increasing numbers of people struggle with debt and file bankruptcy, many credit repair services have cropped up.  However, it is important to understand that some credit repair agencies do not serve the individual’s best interests and there are pitfalls you should avoid. A number of federal agencies became concerned about how credit repair agencies… Read More »

What about Pre-Bankruptcy Credit Counseling?

Since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005, debtors opting for bankruptcy face a new prerequisite—180 days prior to filing bankruptcy, they must complete a credit counseling session as an eligibility requirement. What does credit counseling involve? During credit counseling, you participate in a counseling session where the counselor… Read More »

Do I Have Alternatives To Bankruptcy?

To some people, filing for bankruptcy may feel like a last resort—and put off doing it as long as possible. However, if you are struggling with debt, feeling like you can’t get out from under, you need to do something. There are alternatives to bankruptcy, and we believe that it is important you explore them… Read More »