The number one reason why most people never consider bankruptcy is because they think it will destroy their credit and their ability to get credit in the future. But this isn’t true. Bankruptcy is a legal way for you to responsibly address your financial situation. Most people see a significant increase in their credit score …
How Does Chapter 7 and 13 Bankruptcy Affect My Credit? Read More »
Overview: Many of us have been through the daily exercise of screening our phone calls because we don’t recognize the phone number, and are 99% sure it’s either a solicitation or a creditor calling. Why would you answer a call from someone you don’t know, that you do know is going to want something from …
What To Do When Creditors Call Before, During, and After Bankruptcy Read More »
Many clients ask whether filing bankruptcy is a good fit for their small business. They’re worried about creditors coming after them individually or concerned about the risks of filing for their business in general. Below we are going to cover the some of the basics you’ll need to know before filing for bankruptcy with your …
Bankruptcy allows a person or business to deal with their debt. There are two main types of bankruptcies for consumers: Chapter 7 (known as a liquidation) and Chapter 13 (known as a reorganization). In addition there are other chapters for corporations, farms, and municipalities but those will not be covered in this blog. Chapter 7 …
The whole point of filing bankruptcy is to get you a fresh start, which includes increasing your credit score. Almost all of my clients see a credit score increase post bankruptcy filing. The reason for this is simple: they drastically reduced their amount of debt. I tell most of my clients that filing bankruptcy and …
Financial mindfulness is really about being more aware of your current financial situation. Clarity is the key to improving your finances. The first step is to get clear on where you are right now. This means spending a few hours on a weekend or after work and really assessing your current situation. I have laid …
Financial stress is the number one cause of stress in adults. Most people get so used to being stressed that they no longer recognize or know what living a life with minimal stress is like. Being stressed is their new normal. When someone is stressed financially, it impacts them 24/7. I describe it like a …
Medical Debt can cripple you. Not only do you have to deal with the actual health issue but you have to contend with the financial stress that comes with it. Most people who suffer serious medical problems can incur hundreds of thousands of dollars in medical bills and if you don’t have health insurance, it’s …
When you file bankruptcy, you are required to disclose all of your assets. This includes any inheritance you may receive (even if you have not received it). The most important fact regarding an inheritance is when the person passed away. If you receive the inheritance before filing, then you should discuss with your attorney on …
The idea of bankruptcy is scary. There is a negative stigma associated with it and most people do everything in their power to avoid having to consider it. However, a lot of the fears associated with bankruptcy are unfounded and simply put, are not true. 1. My Credit Will Be Ruined Forever A lot of …
3 Biggest Fears of Filing Bankruptcy (and what to actually do about them) Read More »
