Pre-Bankruptcy

Discrimination and Bankruptcy

2020-06-12T16:21:35+00:00By |Comment(s):0 Comments

If you are thinking about filing for bankruptcy, you may be concerned about discrimination after you file. Many people worry that they won’t get hired for a job, or they may get fired from their current one if they file. You may also be concerned that your driver’s license or government-issued ID may be revoked, or you may not be able to get a student loan.

The good news is, bankruptcy law protects you from discrimination in these cases. Here’s what you need to know about discrimination and bankruptcy.

Can I Be Fired or Not Hired Because I Filed for Bankruptcy?

According to the bankruptcy code, your employer may not discriminate against you for filing for bankruptcy. That means you cannot be fired just because you filed. In fact, your employer cannot fire

Debts Sold to Collection Agencies?

2020-06-12T16:22:21+00:00By |Comment(s):0 Comments

When you file for bankruptcy, one of the greatest benefits is an end to the constant letters and phone calls from your creditors. Once those bankruptcy papers are submitted, in most cases, your creditors must stop all attempts to collect debts, including those harassing phone calls. But, what if your creditor decides to sell off your debt to someone else after you file your bankruptcy? Does the process start all over again? Do you still have to pay the debt? Here’s what you need to know.

The Selling of Debts

When you owe money to a creditor, the creditor can choose to sell the debt just like any other asset. Creditors who don’t want to wait for payment during a Chapter 13, or who believe they won’t get paid at all, can

Who’s Not Eligible to File Bankruptcy?

2020-06-12T16:21:35+00:00By |Comment(s):1 Comment

Most people who have a permanent address or business, or own property in the United States are eligible to file for bankruptcy. However, there are some exceptions and meet specific guidelines in order to be eligible to have your debt discharged. Here’s how to know if you’re eligible to file.

Chapter 7 vs Chapter 13 Bankruptcy

In a Chapter 7 bankruptcy, your non-exempt property is sold, and the proceeds are used to repay a portion of your debt. When a Chapter 13 bankruptcy is filed, you keep your property and repay your debtors according to a repayment plan lasting three to five years. The eligibility requirements for each type of bankruptcy are based on how much money you make and how much disposable income you have.

Income Too High

You

What To Do Now If You’re Considering Bankruptcy

2020-06-12T16:21:36+00:00By |Comment(s):Comments Off on What To Do Now If You’re Considering Bankruptcy

Bankruptcy is a big step for most people to take.  Considering bankruptcy means that you are already in a stressful position, trying to pay bills and handle the insistent calls of creditors.  The process can be overwhelming.  And often we do not do our best thinking when overwhelmed by the pressure of financial insecurity.  So, take a breath.  Try to relax.  We are here to help.  If you are considering bankruptcy here are a few easy steps to help guide you toward the right decision for you, for your family, and for your future.

How Bad are Your Finances? Really?

Living paycheck to paycheck is hard, but this does not mean you are on the brink of financial collapse.  Even falling behind on payments such as mortgages or car loans can be

Should I File For Bankruptcy Before or After Christmas?

2020-06-12T16:20:36+00:00By |Comment(s):Comments Off on Should I File For Bankruptcy Before or After Christmas?

The busy holiday season can be a stressful time, but the added burden of bankruptcy can be almost too much to bear. So, what is the solution? Is it better to file before Christmas to remove the worries, or should one just put aside all thoughts of financial woes and just enjoy the holiday season? The answer to these questions depends on several factors.

Non-Dischargeable Debt

Bankruptcy law states that any debts incurred within 3 months before or after Christmas are considered non-dischargeable debt. This means all the money spent on gifts and other holiday items are the responsibility of the one purchasing them, and these bills must be paid off. There are 2 options in this matter. The first is reaffirming the debt, which means making monthly payments until it is

Can Bankruptcy Help Senior Citizens Protect Their Assets?

2020-06-12T16:20:37+00:00By |Comment(s):Comments Off on Can Bankruptcy Help Senior Citizens Protect Their Assets?

Can Bankruptcy Help Senior Citizens Protect Their Assets-

People get in financial difficulties for all sorts of reasons. Older people, in particular, have demands on their finances that may be difficult to meet. Medical expenses can add up quickly. In addition, in today’s tough financial times, they may often be called upon to help out their kids and younger relatives.

While it is ideal to always pay what you owe, seniors have some unique advantages when it comes to filing for bankruptcy. Most or all of their assets may be protected from being used to pay debts in bankruptcy. It may be better to file for bankruptcy early, rather than use all your resources to pay off debts.

Asset Protection

Hawaii Bankruptcy Statistics

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Over the last ten years, the number of bankruptcies has went up and down in Hawaii. These statistics change with the economy and such things as the housing crisis.

7 Ways to Spend Less in Hawaii

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Hawaii has one of the highest costs of living and the reasons for this are many. From the fact that everything is imported into the state to high utility costs to high property values, which translate into high rent and mortgages, living in Hawaii can be very financially difficult. Learning how to save money in Hawaii can help to live within your means and prevent bankruptcy. Here are seven ways to spend less in Hawaii.

7 ways to spend less in hawaii1. Consider Your Housing Expectations

While everyone would love to live on the coast, it is most likely not financially possible for most people. Most Hawaiians spend at least $1500 a month for an apartment, and these costs can go up from there.

Tips to Avoid Filing for Bankruptcy

2020-06-12T16:20:37+00:00By |Comment(s):Comments Off on Tips to Avoid Filing for Bankruptcy

Do you need tips to avoid filing for bankruptcy? Everyone has financial problems at one point in their life or another.  It may be caused by a divorce or medical emergency or a job loss.  Although many people feel that bankruptcy is caused by someone being irresponsible with money that is not always the case.  If you are considering bankruptcy, do not worry about what other people think.  Before you decide to file, try these tips to help your financial situation and avoid bankruptcy.

  • Design a realistic budget to see where your money goes each month.  To do this, you will need to write down every dime you spend all month.  This is not going to be fun, but the information may be quite an eye opener to you about

What are the Most Common Ways to File Bankruptcy?

2020-06-12T16:20:38+00:00By |Comment(s):Comments Off on What are the Most Common Ways to File Bankruptcy?

While there are several types of bankruptcy, the most common ways to file bankruptcy for individuals are Chapter 7 and Chapter 13.  Each type has its own guidelines and benefits and consumers will need to carefully choose which type is the best option for their needs.  The following overview shares basic information about both Chapter 7 and Chapter 13 bankruptcies.

Chapter 7

Also known as a common bankruptcy, a Chapter 7 is an option for both businesses and individuals. A trustee is appointed and all nonexempt assets are sold.  Nonexempt assets are ones that are allowed by law to be sold such as family heirlooms, expensive musical equipment, a second home or vehicle and other valuable items.  It is possible to keep some of your nonexempt property, but each state has its

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