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
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.
5 Ways to Control Your Holiday Credit Card Debt
It is the most wonderful – and wonderfully expensive – time of year. Between presents, decorations, parties, and dinners out, your wallet can take a serious hit during the holidays. And with the economic downturn related to the pandemic looming, people are feeling the pressure. In fact, many Americans fully intend to rack up a large credit card debt during the season, admitting that they’ll need three months or more Read More
Chapter 13 Bankruptcy: Can You Buy Or Sell A House ?
After filing for Chapter 13 bankruptcy, you give up a lot of financial control to your bankruptcy trustee. Even though you keep possession of your property, like a home, it becomes part of your Chapter 13 bankruptcy estate. The trustee manages this estate and makes major financial decisions that affect your property. This includes buying or selling a home. While the trustee must approve the transaction beforehand, you can buy Read More
Medical Bills: The #1 Cause of Personal Bankruptcy in the U.S.
No one wants to admit the water is over their head. It’s difficult to say to yourself, let alone family and friends. But when you’ve faced a medical emergency, the bills can become overwhelming. Far too many Americans use their savings and retirement funds to pay medical bills, only to have them become more than they could ever hope to pay back. This is why medical bills have become one Read More
How Does Filing for Bankruptcy Affect My Inheritance?
Deciding to file for bankruptcy is a tough decision. When you are overwhelmed by debt, it can be the right thing to do. Filing for Chapter 7 or Chapter 13 bankruptcy can help you get out from under your debt and move forward on more stable financial ground. However, bankruptcy is not an easy process. It has serious consequences, including using various sources of income to pay off as much Read More
What Is a Credit Freeze and Understanding the Equifax Hack
Security breaches at Equifax have exposed the names, Social Security numbers, birth dates, and other personal information of as many as 143 million Americans. On top of that, the Wall Street Journal has recently reported that hackers also stole the records of 10.9 million driver’s licenses. To put it simply, the Equifax hack is a crisis of unprecedented proportions. How Can Criminals Use the Equifax Breach to Their Advantage? A Read More
How to Buy a Home After Bankruptcy
Chances are if you’ve filed for bankruptcy, it’s because you’ve endured the crippling weight of your bills for a long time and you’re longing to find some relief. While a bankruptcy discharge can provide help by either wiping your debts clean or setting you up with an affordable payment plan, it does not come without its own disadvantages. A bankruptcy stays on your credit report for up to ten years Read More
Using Your Tax Refund to Pay Off Debt
Getting a sizeable tax refund can feel like a bonus. You may be tempted to put it toward something new or fun like a bigger TV or a vacation. However, think twice before using your tax refund for nonessential expenses. It may feel good at the moment, but it is often not the most beneficial use of these funds. If you are carrying debt, such as bank loans, credit card Read More
Consumer Financial Protection Bureau Fines Credit Agencies for Deceiving Consumers
In January 2017, the Consumer Financial Protection Bureau (CFPB) took action against credit agencies TransUnion and Equifax, Inc. as well as their subsidiaries for lying to customers about credit scores they sold to them. The CFPB asserted that the agencies were dishonest about the actual cost and usefulness of credit score provided. Additionally, the agencies made false promises to convince consumers to pay large recurring payments. The CFPB ordered TransUnion Read More
Can I File for Bankruptcy with No Money?
If you’re deeply in debt, chances are you may be looking into bankruptcy as a way to relieve some or all of your financial burdens. However, bankruptcy comes with its own set of fees, and if you plan to work with an attorney to ensure your bankruptcy is filed correctly, you will incur attorney fees as well. It’s kind of a catch 22 – you’re thinking of filing for bankruptcy Read More