Medical debt is on of the most common reason that people file for bankruptcy. It even surpasses mortgage debt and credit card debt. Bankruptcy with medical bills occurs when the price of treating a disease, injury or sickness becomes greater than what the patient is able to pay. Even some individuals with medical insurance have… Continue reading Bankruptcy with medical bills
Category: Chapter 7 Bankruptcy
Bankruptcy without a job
There is no requirement that you be employed to file for bankruptcy. For some reason this rumor is floating around out there, I hear this from time, from potential clients. In fact, bankruptcy without a job, is one of the most common reasons people file for bankruptcy in Utah. However, being unemployed can affect… Continue reading Bankruptcy without a job
When bankruptcy ends
So if the goal of a bankruptcy is a discharge, then the question is, when bankruptcy ends. Most people think that a bankruptcy usually end when you are discharged. But the case is not technically over at that point. The court will grant a discharge in a Chapter 7 bankruptcy case usually within about 120… Continue reading When bankruptcy ends
Bankruptcy with no income
There is no income requirement to file for Chapter 7 bankruptcy. Being unemployed with no income makes it easier for you to qualify for a Chapter 7 bankruptcy. This kind of bankruptcy can offer you a new start if you are under employed or after a loss of employment and for the most part your… Continue reading Bankruptcy with no income
How bankruptcy affects you
When you file for a bankruptcy, your life can be affected in several ways. It can affect you both positively and negatively in some ways. Some of the positive effects of bankruptcy are that your debts will be under control and you can get instant relief from creditors, collecting agencies, and the debts that are… Continue reading How bankruptcy affects you
Filing bankruptcy versus foreclosure
These two options are not mutually exclusive as some think. If you are facing one of them you may be facing the other as well. Since filing for bankruptcy will eliminate some if not all of your debts, you can decide to file bankruptcy before a foreclosure on property the debt most likely will be… Continue reading Filing bankruptcy versus foreclosure
How bankruptcy works
The idea of bankruptcy has been around for a very long time. The basic idea of how bankruptcy works has been around as long as history itself you can even read about the concept of bankruptcy in the Bible. So its not surprising that millions of Americans file for bankruptcy protection every year. This idea… Continue reading How bankruptcy works
Bankruptcy to remove student loans
It is commonly said that student loans are impossible to remove through filing for bankruptcy. However, that is not always true. It is a common misconception about bankruptcy. To remove student loans through a bankruptcy, it is not an easy process but it is possible. There are a few criteria that you have to meet… Continue reading Bankruptcy to remove student loans
Bankruptcy for LLC
If your business is organized as a corporation or a limited liability company (LLC), your personal assets are usually protected from business creditors –unless you specifically gave up your so-called “limited liability” protection. Unfortunately, you may have done so if the bank or other creditor required a personal guarantee and/or personal security before loaning you… Continue reading Bankruptcy for LLC
Bankruptcy for medical debt
Medical debts are one of the most common reasons that people need to seek bankruptcy relief. With out of control medical costs and increased insurance premiums more and more people are forced into financial ruin with just a day or two stay in hospital. With passage of the Affordable Heath Care Act it was assumed… Continue reading Bankruptcy for medical debt