On Behalf of developers | May 26, 2022 | Bankruptcy
There are numerous stereotypes out in circulation about debt and bankruptcy. It is a common misconception that financial hardship only falls on those who are careless with their money. This is far from the truth though. Many Americans are currently struggling with the cost of living. The following factors offer an insight into how being in… Continue reading You may not be in control of your debts...
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On Behalf of developers | May 20, 2022 | Bankruptcy
Bankruptcy is a proceeding that provides debt relief. Two common types of bankruptcy are Chapter 7, a liquidation, and Chapter 13, a repayment plan. Many people in Mississippi choose Chapter 7, but they must pass a means test. Overview of the bankruptcy means test Congress added the bankruptcy means test in 2005 because too many high-income… Continue reading How the Chapter 7 bankruptcy means test works...
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On Behalf of developers | May 4, 2022 | Bankruptcy
You’ve had a lot of financial ups and downs over the years, and your parents have been there to support you along the way. When you were struggling financially because of changes in your employment over the last couple of years, they lent you some money. Unfortunately, you couldn’t pull things together in time to… Continue reading Can you repay your parents’ loan before you file for bankruptcy?...
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On Behalf of developers | May 4, 2022 | Bankruptcy
As you start the bankruptcy process, you’ll hear and read about the “discharge.” That’s the bankruptcy court’s order that releases you from any liability for your debts that have been ruled to be dischargeable. The discharge typically occurs in a Chapter 7 bankruptcy once a person has turned over their dischargeable or “non-exempt” assets. Those assets are then… Continue reading Why could a court refuse to discharge your bankruptcy?...
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