Filing for bankruptcy may seem more accessible now that AI tools offer quick document generation. Yet these platforms can expose you to significant risks that affect your financial security and the outcome of your case. Why these risks matter Bankruptcy requires...
Many people in financial distress are askance at filing a Chapter 7 bankruptcy for fear that their property will be taken and sold to pay off creditors. However, statutory exemptions allow individuals filing for bankruptcy to retain certain assets up to specified...
Chapter 13 bankruptcy provides individuals with a structured way to reorganize their debts while keeping their assets. A Chapter 13 debtor can create a three- or five-year plan calling for monthly payments in amounts determined based on the debtor’s disposable income...
Bankruptcy can provide a fresh financial start, but it also leaves a negative mark on your credit report for up to ten years. Restoring your credit score after bankruptcy is challenging yet achievable with the right strategies. By taking positive actions, debtors can...
An individual debtor who wishes to discharge of debts under Chapter 7 of the Bankruptcy Code must usually pass the means test. This is a device intended to prevent people with higher incomes, who could potentially repay a portion off their debts, from misusing Chapter...
If you're behind on your mortgage payments and facing the threat of losing your home to the bank, a Chapter 13 bankruptcy may offer a lifeline. It provides a structured approach to cure your mortgage default and get your monthly payments back on track by reorganizing...
In the middle of an election year where healthcare is already a hotly debated issue, the COVID-19 pandemic has stirred further discussion about whether major changes are necessary. During the Democratic presidential primary, the concept of Medicare for All split the...
The new healthcare system in the United States under the Affordable Care Act (“Obamacare”) should lead to a significant improvement in how millions of people are covered by insurance. Healthcare premiums should also be reduced for millions who were spending large sums...
Life sometimes doles out bad luck in double doses. Given how many millions of people were directly and indirectly affected by Hurricane Sandy, it’s clear that thousands of people in the New York, New Jersey and Connecticut areas likely were also dealing with financial...
The financial burdens of student loans rest heavily, of course, on the most recent generation of college graduates. Some have accumulated three or more times as much debt as their annual salaries. This significantly handicaps their ability to purchase homes and cars,...