A Way Out of Extreme Debt

A Way Out of Extreme Debt

Navigating Financial Turbulence: Why Self-Startup Owners Should Consult a Bankruptcy Attorney

26 March 2024
 Categories: , Blog

The entrepreneurial path is often romanticized with tales of overnight success and perseverance against all odds. But for many self-startup owners, financial turbulence is an all-too-real obstacle that can lead to difficult decisions. If your business is facing insurmountable debt, you might consider talking to a bankruptcy attorney. Here are five compelling reasons why this professional consultation is crucial for your business's financial integrity. Your Personal Assets Hang in the Balance
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Can You Keep Your Home When Filing For Bankruptcy?

5 July 2023
 Categories: , Blog

While many people use bankruptcy to get themselves out of debt, a common concern between them is if they can keep their homes in the end. Here is what you need to know about how a bankruptcy filing can impact home ownership so that you can be well prepared. Automatic Stay  By simply applying for bankruptcy you will receive an automatic stay. This is when you are not required to pay off the remaining debt until the bankruptcy is approved.
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Chapter 13 Bankruptcy Lawyer: 4 Elements Of Chapter 13 Bankruptcy You Need To Know Before Filing For Insolvency

4 November 2022
 Categories: , Blog

Chapter 13 bankruptcy, also known as a plan for wage earners, enables people with a consistent income to create a plan to repay what they owe. Through this type of bankruptcy, a debtor can suggest a repayment plan that lets them make payments to creditors over a certain period. If the court approves the debtor's repayment plan, creditors shouldn't start or continue collection actions against them. Before filing for insolvency, it's important to contact a bankruptcy lawyer to help you understand the process and what to expect.
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Forgiveness, Discharges, and Automatic Stays: Clearing Up the Chapter 7 Confusion

30 March 2022
 Categories: , Blog

The terms in the title sound a bit alike. However, when it comes to bankruptcy actions, they mean different things. Read on for an explanation of each term that should help clear things up for potential filers. Debt Forgiveness In most cases, the above term is only connected to bankruptcy because it's something that could apply to anyone under financial distress. Debt forgiveness can be used interchangeably with debt discharges but it's not so much a legal term as it is a financial term.
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3 Questions To Ask When Choosing Chapter 7 Vs. Chapter 13 Bankruptcy

26 October 2021
 Categories: , Blog

When you decide to file for bankruptcy, you might have the option of using Chapter 7 or Chapter 13. The challenging part might be determining which one to use if you qualify for both options. You can discuss your situation with a bankruptcy attorney to find out what they suggest. Consider the following three questions to help you choose the right chapter of bankruptcy to file. 1. What Types of Debts Do You Have?
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About Me
A Way Out of Extreme Debt

Debt has a way of sneaking up on you. One day, it's manageable and you can afford your payments. Then you get in a car accident, incur a large medical bill, or make a few irresponsible purchases, and suddenly you have no way to pay. It can feel like the world is closing in on you and you're never going to be able to pay off what you owe. But there is a way out. Bankruptcy attorneys can help you declare bankruptcy and either eliminate or consolidate your debt. The first step is meeting with an attorney to see if you qualify. You can learn more about the topic on this website.

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