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Author: developers

How the Chapter 7 bankruptcy means test works

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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Can you repay your parents’ loan before you file for bankruptcy?

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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Why could a court refuse to discharge your bankruptcy?

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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Why bother with bankruptcy when it won’t clear your student loans?

On Behalf of developers | April 27, 2022 | Chapter 7 Bankruptcy

It’s not impossible to get your student loans discharged in bankruptcy, but it’s not exactly easy, either. Most people who file bankruptcy will still have those debts when they’re done. If your student loans are a major source of your financial distress and are unlikely to be discharged, is there any point in filing bankruptcy? Quite often,… Continue reading Why bother with bankruptcy when it won’t clear your student loans?...
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Major changes on medical debt announced by credit reporting execs

On Behalf of developers | April 12, 2022 | Bankruptcy,Uncategorized

Many Americans – even those with health insurance – are drowning in medical debt. One long-term illness or serious injury can result in medical bills adding up to many thousands of dollars. The Consumer Financial Protection Bureau (CFPB) puts medical debt in the U.S. at a total of somewhere between $81 and $140 billion. That… Continue reading Major changes on medical debt announced by credit reporting execs...
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Proactive measures that can relieve your debts

On Behalf of developers | April 2, 2022 | Bankruptcy

It can feel like a lonely place when your debts are spiraling out of control. However, the truth is that millions of people are in the exact same position as you are. Unfortunately, there are still stigmas surrounding debt, bankruptcy and other financial issues. If you are facing financial hardship, there is no need to… Continue reading Proactive measures that can relieve your debts...
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Even with restrictions, payday loans can be costly in Mississippi

On Behalf of developers | March 20, 2022 | Debt Relief

You’ve probably heard all the cautionary tales about payday loans. They come with fees and high interest rates. It’s easy to become dependent on them to get by. However, when you’re short on money or an unexpected expense comes up and you’re not getting paid for another week, they can seem like an easy solution.… Continue reading Even with restrictions, payday loans can be costly in Mississippi...
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Moving forward with your Chapter 13 payment plan

On Behalf of developers | March 18, 2022 | Blog,Chapter 13 Bankruptcy

If you file for Chapter 13 bankruptcy in Mississippi, you will have to undergo a process of documenting your income, debts, and ability to fulfill the terms of a repayment plan. This can take time and requires significant paperwork Complete the means test To determine your qualifications for a Chapter 13 bankruptcy, you have to… Continue reading Moving forward with your Chapter 13 payment plan...
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Debt affects more than your finances

On Behalf of developers | February 18, 2022 | Chapter 7 Bankruptcy

Debt is still viewed as a taboo subject at times. Anyone in financial hardship can be misconstrued as being reckless with their money. The truth is that many American households are struggling financially through no fault of their own. Debt can leave you wondering where your next meal is coming from or how you will… Continue reading Debt affects more than your finances...
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Take a breath and start again: Bankruptcy can give new life

On Behalf of developers | February 3, 2022 | Bankruptcy

There is a common misconception that bankruptcy is always brought on by carelessness with money. However, this is far from the truth. Many American citizens and businesses are currently struggling financially, for reasons outside of their control. Although the decision to file for bankruptcy is not one that should be taken lightly, the outcomes are not… Continue reading Take a breath and start again: Bankruptcy can give new life...
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