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No one wants to face something like bankruptcy, but sometimes it is inevitable. And there are even times when it can be a welcome relief from the years of struggling with debt, collection calls, and other issues. However, not everyone can qualify for bankruptcy and there are different types of filings to consider. Chapter 7…
Chapter 7 bankruptcy has a number of requirements and standards that must be met in order for someone to be able to file. Income limits are an obvious restriction—if you make a lot of money, it’s assumed that you should be able to handle repaying your debts. On the other hand, those who don’t make…
Bankruptcy is an option for some people who need relief from the financial debts they are drowning under. However, it is not a one-size-fits-all solution, nor will it take care of all debts. Understanding what is not excused with Chapter 7 bankruptcy is just as important as knowing what debts it can resolve. While bankruptcy…
Bankruptcy proceedings can be a complicated process to navigate. If you’re moving forward with a personal bankruptcy case, you’re not alone. In 2021, the U.S. Courts System recorded 413,616 Americans filing for bankruptcy. Filing a claim can be overwhelming in itself. But what do you do when your bankruptcy case occurs during a move between…
People with financial challenges may consider filing for bankruptcy to discharge debts they can’t repay. In 2022, over 370,000 people in the United States filed for bankruptcy. Every state establishes its bankruptcy laws and bankruptcy process, which means people living in different parts of the country may have different requirements they must meet to file….
Understandably, you will have many questions about how filing bankruptcy will impact different financial obligations. One frequently asked question is whether filing bankruptcy will affect a rental agreement for an apartment or a house. Another one is, “Can I rent after bankruptcy?” As long as you are current on your rent payments, nothing should change…
Multiple factors can lead to financial challenges. Illness or injuries may produce thousands in medical bills. Recessions lead to job losses, and pandemics may also keep employees home. Unexpected expenses and income shortages may leave people unable to pay their bills. When this happens, some may consider bankruptcy as a way to resolve their financial…
If you’re facing impossible debts and are unable to repay creditors, it can feel like a hopeless situation. However, filing for bankruptcy can give you the fresh start you need when experiencing financial difficulties. It’s important that you choose the right type of bankruptcy for your circumstance to get the most benefits from this often…
Even with the continued decline in bankruptcies in recent years, Nevada still ranked number two in bankruptcies for 2021. During the pandemic, stimulus payments and financial assistance programs helped numerous people avoid bankruptcy. However, with the recent concerns about rising inflation, interest rates, and the economy shifting into a recession, the number of bankruptcies could…
Filing for bankruptcy can cause even the highest credit scores to plummet deep into the subprime lending zone. Whether you start in the high 700s or the low 600s, bankruptcy will most likely drop your credit rating well below 550. Being in this “subprime” lending zone means that an individual will have difficulty obtaining loans…
In 2021, Southern Nevada and Clark County experienced one of the worst drought periods on record. Unfortunately, this year has been just as bad, with exceptional or extreme drought conditions in Clark County since early May. As you can imagine, the continued Nevada historic drought conditions are having effects on businesses and residents alike. How…
In August 2022, President Biden announced a plan to cancel student loan debt ranging from $10,000 to $20,000, depending on various requirements and income levels. However, at the beginning of November 2022, a federal district court in Texas ruled the plan was unconstitutional. As a result, many borrowers have no idea whether they will still…