Last Friday the government released positive employment numbers. Even with the government shutdown, the U.S. economy managed to create approximately 220,000 new jobs. This is clearly very good news. Perhaps you are now getting back to work. If you have been looking for work for awhile, you may have recently incurred a significant debt burden. … Continue Reading
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The Automatic Stay – How Bankruptcy Stops Your Creditors
When you file bankruptcy, no matter whether it’s a Chapter 7 or a Chapter 13, the law requires your creditors to stop all proceedings and actions against you. This part of the bankruptcy law is called the Automatic Stay. Once you have filed your bankruptcy, but not before, your creditors must stop all phone calls,… Continue Reading
How Does Bankruptcy Affect My Credit Score?
Many people avoid bankruptcy because they worry about their credit score. Yes, bankruptcy may damage your credit score and can stay on a credit report for up to ten years. However, not paying your bills, allowing your debt to go to collections, or suffering a foreclosure may do even more damage. A bankruptcy can stay… Continue Reading
Good News
Last week a single mother contacted our office about filing for bankruptcy. On the day of her appointment, she called and cancelled stating a family member had paid off ALL her debt. Its not often we hear such great news. We are very happy to hear of her good fortune.
Medical Bills can Lead to Bankruptcy
A recent study shows that more than credit card or mortgage debt, large medical bills are the main reason people need to file bankruptcy. In fact 3 out of every 5 bankruptcies are driven by medical bills. These bills are not just for the uninsured either. Many people with high deductible insurance coverage wind up… Continue Reading