Debt problems don’t usually appear overnight. For many people, financial stress builds slowly, such as an unexpected medical bill, a reduction in income, or rising interest rates that make once-manageable payments feel impossible. When collection calls start coming...
For many individuals and families in local communities, bankruptcy carries an unfair stigma. It is often assumed that filing for bankruptcy results from reckless spending or poor financial planning. In reality, most people who explore bankruptcy do so only after...
Chapter 13 bankruptcy, often termed the “income-based repayment plan,” allows those with steady earnings or income to lay out a payment plan for settling either all or most of their debts. It grants debtors the opportunity to propose a payback scheme,...
It is always upsetting when you are notified by a court that your wages are going to be garnished due to unpaid child support or some other form of unpaid debt. The payroll firm ADP reported that about 13 million employees had wage garnishments in 2013 with the top...
The choice between a Chapter 7 and Chapter 13 bankruptcy depends on the client’s financial situation, legal obligations and future plans. A Chapter 7 allows for the complete discharge of most debts. The client gets a fresh start. A Chapter 13 requires debts be repaid...
In a previous blog post we discussed some of the highlights of a Chapter 7 bankruptcy filing, citing it as the most used type of bankruptcy remediation. In this blog post we will focus on the second most popular type of bankruptcy filing, a Chapter 13 bankruptcy. In a...
