If you’re having trouble meeting your financial obligations, a Chapter 13 bankruptcy can be a lifesaver, giving you the breathing room you need while allowing you to catch up on unsecured debt. Even student loans, which are quite difficult to discharge, can be effectively managed through a Chapter 13, even though in some cases they
Because they live on a fixed income, senior citizens are especially vulnerable to credit card debts, which can quickly spiral out of control. For many of these elderly borrowers, bankruptcy is a powerful tool, offering a way out of debt and providing invaluable peace of mind. Unfortunately, worried about the example they would be setting
When the creditor who harassed you claims in Bankruptcy Court he didn’t mean to violate the automatic stay, the Bankruptcy Judge will side with you and award damges.
Soon after you file bankruptcy, you should expect new bills and phone calls from creditors to stop. Sometimes they don’t. Why? They hope you’ll pay them anyway…without consulting your attorney, and sometimes people in bankruptcy do this. Remember, once you file your petition, the court imposes an “automatic stay” against creditors. It stops all collection
The “automatic stay” is a very important (and beneficial) bankruptcy concept for any Connecticut residents to understand if they’re contemplating bankruptcy. It’s essentially like calling a time-out in your financial affairs. Perhaps an easy way to think about it is, the moment you file for bankruptcy, the automatic stay goes into effect “automatically” and it
There are a lot of things in life that are pretty natural and instinctive. Bankruptcy is not one of them. As a result, people have a number of misconceptions about the bankruptcy process, such as: 1. There’s nothing I can do to stop creditors from harassing me. FALSE. The moment you file for bankruptcy, you