If you want to keep some of your debts, a repayment plan via a Chapter 13 bankruptcy may be the right move if you’re struggling. Alternatively, Chapter 7 could let you discharge everything to move on faster. But no matter what type of bankruptcy you go with, there are several missteps a debtor can make along the way. Some bigger mistakes have severe implications or may disqualify you from bankruptcy Read More
Whether you’re deep in debt or struggling to stay up with bills, there’s a solution to your financial situation. The Cleveland Bankruptcy attorneys have the knowledge and experience to fight for your best interest. Contact a Cleveland Bankruptcy attorney today to discuss your options at (216) 586-6600 or email us at email@example.com.
Will Inflation Lead to More Bankruptcies?
Inflation is at record highs. Many are struggling to cover daily living expenses due to the current costs of gas, groceries, utilities, mortgage payments, and other regular monthly bills. One effect of inflation is an expected rise in bankruptcy filings in 2023. Although bankruptcy declarations have declined recently, credit card debt is at an all-time high as consumers struggle to absorb costs. Those struggling to deal with inflation may soon Read More
Does Filing for Bankruptcy Affect Employment?
Although many negative connotations are associated with declaring bankruptcy, it’s often an excellent opportunity for people to get out of debt and explore financial freedom. However, if you are considering bankruptcy, one of your top concerns could be how a bankruptcy declaration will affect your employment and ability to earn a living. Before you file, here are some of the most important things you need to remember. What are the Read More
What if Your Ex-Spouse Files for Bankruptcy?
If your ex-spouse declares bankruptcy while you are still married and your divorce has not been finalized, it could significantly impact you financially. Determining how your property, assets, finances, and debts are distributed when you divorce will be essential to the settlement process. Unfortunately, a bankruptcy declaration can have a significant impact on these plans. Understanding how your plans could be affected by your ex’s bankruptcy declaration could considerably impact Read More
Should I Reaffirm My Mortgage Debt?
Most people assume that when they file for bankruptcy, they will lose everything, including their home. However, there are ways to keep some of your property, such as your house, while addressing some of your debt. One of these ways is through a reaffirmation agreement. By fully understanding what it is and how it can help you through the complex bankruptcy process, you can come out of the process of Read More
How to Deal with Utility Disconnections
Utilities are vital to everyday life. It can be easy to take them for granted, but like other services, you must keep up with payments. If you have difficulty keeping up with those payments, you risk a disconnection. There are ways to stop or stall a disconnection, and programs designed to help those in need. Why Would Utilities Get Cut Off? The most common reason that a utility suspension happens Read More
What Can I Keep if I File for Chapter 7 Bankruptcy?
Chapter 7, the most common bankruptcy filed by people in the U.S., is essentially a debt cancellation. If you do not have enough income to pay your creditors, you can file for Chapter 7 bankruptcy to have the debts discharged, giving you a fresh start financially. Can I Keep My Belongings If I File Chapter 7 Bankruptcy? A big hesitation for individuals considering Chapter 7 revolves around the requirement to Read More
How Couples Go Through Bankruptcy
Many people view the debts you incur in marriage as joint debt. After all, what’s yours is mine, and what’s mine is yours. While we usually think of marital debt as shared, couples today marry later in life and live together without marrying for longer — waiting nearly five years on average to get married, according to Business Insider. Since couples aren’t sharing finances until later in life, it is Read More
Are More COVID-Bankruptcies On the Way?
It’s no surprise that the COVID-19 pandemic has had an unprecedented effect on the world economy. But despite the pandemic recession and economic turmoil, personal bankruptcies in the U.S. declined significantly in 2020 and 2021 — by about 30% from 2019. However, those numbers could rise again. With the pandemic seemingly waning, several factors have evolved that could cause a new wave of bankruptcies in the coming months. How COVID Read More
5 Student Loan Forgiveness Programs You Should Know About
It is not unusual for graduates to have trouble making their student loan payments. Some repayment terms have massive principles that often require up to 60% of a graduate’s income. When you factor in high interest rates, it’s no wonder that one out of every 10 Americans defaults on a student loan