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June 2018 Archives

Success can follow your bankruptcy

Nobody likes losing, and for some people in Mississippi, filing for bankruptcy feels like losing. What you are losing, however, are the stress and anxiety that an overwhelming amount of debt brings. What you are gaining is a fresh start, and everyone deserves a new start. It may help you to know that there are many others in the same boat, including plenty of people that have become successful after a bankruptcy. Here is a lighter look at celebrities who have been where you are now and have come through fine on the other side, as you will too.

What does a trustee do in a chapter 7 case?

No matter where you live, federal courts oversee all bankruptcy cases according to rules established in the U.S. Bankruptcy Code. When you file a petition for chapter 7 bankruptcy in Mississippi, the federal trustee names another trustee to oversee the case and sell any nonexempt assets that you may have, according to U.S. courts procedures. The sale of such assets for the highest return is the central role of a trustee, and the trustee has broad powers to guard against fraudulent transfers of property to avoid creditor repayment.

How can I guard against foreclosure fraud?

There are many sayings about not “rubbing salt in a wound” or “kicking someone when they are down.” Residents of Mississippi learn from their parents not to take advantage of others and a bad situation they may be facing. Unfortunately, there are still plenty of people out there that do just that. If you are facing foreclosure, be aware of possible scams that may come your way.

Bankruptcy trends in the U.S. and Mississippi

It has been roughly a whole decade now since the Great Recession hit the United States. While many people in Mississippi have been enjoying the results of a healthier economy there continue to be many who struggle to make ends meet. Despite news reports these people are far from alone and in fact may represent a growing population once again.

Understanding Chapter 13 bankruptcy qualifications

When you are neck deep in debt, it is easy to look around and feel as though you are the only one in Jackson struggling with such a problem. Trust us here at the Pond Law Firm when we tell you that you are certainly not alone. Debt can easily overwhelm anyone's financial lives, leaving them (like you) scrambling to figure out what your best option for getting back on a firm financial footing may be. Personal bankruptcy is an option, yet you may feel a strong obligation to pay your creditors what you can. Fortunately, a Chapter 13 bankruptcy offers you protection while still being able to pay back something. 

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