Statistics reveal that in 2017 more than 700,000 individuals filed for bankruptcy. Unfortunately, bankruptcy can remain on your credit report for up to 10 years, depending on the type of bankruptcy you file. A recent study by LendingTree found that many people actually bounce back from bankruptcy long before 10 years have elapsed. Instead, the… [Continue Reading]
Clarifying Common Bankruptcy Myths
There are a number of myths out there about the bankruptcy process. While some of these myths contain an element of truth, most have no basis in reality and were likely created to scare people. If you are navigating the bankruptcy process, it is a wise idea to contact an experienced bankruptcy attorney who can… [Continue Reading]
Why You Should Not Wait to File for Bankruptcy
Because filing for bankruptcy is often seen as an acknowledgement of financial failure, many people resist initiating the bankruptcy process. In reality, waiting to file bankruptcy often makes it more difficult for a person to recover from the bankruptcy process. The following will review some of the reasons why you should not delay in speaking… [Continue Reading]
Are Married Couples Required to File Bankruptcy Together in Michigan?
While most couples do file bankruptcy together, there are some circumstances in which married couples might decide to file bankruptcy separately. In rare cases, such as newlyweds, for example, one spouse might file bankruptcy alone, which helps to preserve the non-filing spouse’s credit standing. However, certain aspects of the marriage will still be examined, so… [Continue Reading]
Why DIY Bankruptcy is a Bad Idea
Today the idea of doing it yourself has infiltrated all aspects of our lives. Not only are we advised to tackle home repairs without the assistance of a specialist, we are encouraged to handle legal matters on our own, as well. While it is possible to file the forms associated with certain legal issues with… [Continue Reading]
Tax Refund Garnishment
There are many consumers who look forward to getting substantial tax refunds each year. These funds may be used as savings, to pay for various expenses, or to pay off existing debt. Consumers who have made plans to spend their tax refunds may be concerned about the ability of existing creditors to garnish those tax… [Continue Reading]
The Cost of Bankruptcy Fraud
A person may decide to file for bankruptcy for various reasons, such as overwhelming debt, as a way to restructure a business, or because of unemployment. Federal bankruptcy laws provide different options for debt discharge depending on the goal of the person filing. In return, the law requires the person to provide accurate information on… [Continue Reading]
