Along with the general stress of managing their finances later in life, seniors are frequently targets of financial fraud. A bankruptcy attorney often sees cases where people’s finances are depleted after a devastating scam. Getting an estimate of the prevalence for these types of elder crime is difficult. Not all seniors report a financial crime, […]
When you face bankruptcy, some of the debts you’re struggling with may involve cosigners on loans. These could range from student loans to auto loans. In some cases, your debts may also involve a guarantor: someone who took on the responsibility of paying a debt in a situation where you’re unable to. When you file […]
Along with the financial costs of bankruptcy are the emotional costs. People who file for bankruptcy often struggle with a variety of negative emotions, including feelings of failure and a sense of hopelessness or profound pessimism about the future. Whether you’re filing for bankruptcy as an individual or as a small business owner, you may […]
One of the major challenges consumers will have to overcome after bankruptcy is dealing with rebuilding credit. Many consumers are concerned that once they have filed bankruptcy, especially Chapter 7 they will have to wait up to 10 years to reestablish their credit. Fortunately, this is not always the case. Considering buying a home? If […]
When you plan to file for bankruptcy, you need to figure out what exemptions apply to you. Exempted assets are generally protected from creditors during bankruptcy proceedings. But it’s important to stay appraised of any changes to the law. A recent US Supreme Court decision on inherited IRAs has potentially affected many people who are […]
In Chapter 7 bankruptcy, even if a debt can be discharged, you may have reasons to pay it. For example, according to the U.S. Department of Justice’s Trustee Program, perhaps you want to keep your car that you owe money for rather than turning it over to the trustee for the discharge of the debt. […]
Bankruptcy is a choice many people don’t plan to do. It’s something they end up doing. Bankruptcy can knock on your door at any point in your life. It’s very tempting and easy to start over financially. So why anyone would fall prey to temptation and file for bankruptcy? A Troy, Ohio Bankruptcy Attorney offers the […]
We’re often asked how long bankruptcy stays on one’s credit report. First, you should understand where bankruptcy appears on your credit report. It becomes part of the Legal Records on your report, alongside tax liens and court judgements. As explained in an article from Free Credit Report, the length of time depends on which chapter […]
Springfield, Ohio Bankruptcy Attorney, Chris Wesner helps his clients to avoid the “gotchas” in the process of bankruptcy. Bankruptcy can be a complicated process and there are many things that can go wrong in the process. You may ask, “Like what?” Well, if you inherited the proceeds of an IRA (Individual Retirement Account), a recent decision […]
It is an unfortunate reality that bankruptcy and divorce are not always mutually exclusive. If you find yourself facing both a mountain of debt and a divorce in the near future, perhaps you’re wondering which legal procedure should happen first. There are pros and cons to either order of business, however, and the answer to […]