Bankruptcy Law Blog

At Liviakis Law Firm, we understand that individuals struggling with debt often consider a myriad of solutions, one of which is a Debt Management Plan (DMP). However, while DMPs may seem like a viable option at first glance, they often do not provide the relief they promise. Here are some of the reasons why they…

The Presidential Election has a significant impact on various aspects of our lives, including the economy, healthcare, and yes, even bankruptcy options. Policies enacted by the administration in power can dictate the ease with which individuals and businesses can declare bankruptcy, as well as the protections available to them during and after the process. It…

Bankruptcy is a legal process that offers a fresh start to individuals who are unable to pay their debts. There are two main types for individuals and families: Chapter 7 and Chapter 13. While both are viable options depending on your circumstances, Chapter 13 offers several advantages that make it easier to recover from than…

In an era where medical expenses continue to climb, a significant number of individuals and families find themselves drowning in medical debt. Despite their best efforts to maintain their health and finances, unexpected illnesses or accidents can lead to overwhelming medical bills. Understanding the Impact of Medical Debt Medical debt can cast a long shadow…

Facing financial distress is a daunting experience that can leave many feeling overwhelmed and uncertain about the future. The prospect of filing for bankruptcy, while offering a path to relief, brings its own set of concerns and questions. Understanding the nuances of pre-bankruptcy can significantly impact the decisions you make and ultimately, the outcome of…

Losing a job is an upheaval, triggering a domino effect on your financial stability and mental peace. For many, the immediate concern post-job loss isn’t just about finding the next opportunity but managing the looming shadow of debt without a steady income. In these challenging times, how you manage your debt can significantly impact your…

Financial hardship looms large for many individuals, a scenario compounded by challenges like foreclosure, where a property owner’s right to ownership is relinquished due to reasons such as the inability to meet mortgage obligations. When these debts stack up and creditor pressures mount, bankruptcy often enters the conversation as a means of finding relief and…

The word “bankruptcy” can carry a heavy weight, and for many, it’s shrouded in misunderstanding and misperception. But the truth is, bankruptcy is a legal process designed to provide a second chance for individuals and businesses burdened with more debt than they can handle. If you’re finding yourself in the throes of financial turmoil, recognizing…

In a world where financial stability can feel like an unattainable dream, debt relief options stand as the light at the end of the tunnel for countless individuals struggling with overwhelming debt. This guide is designed to help you make informed decisions when it comes to tackling your financial burdens. Let’s explore the various paths…

Owning a small business comes with its set of challenges with tax season being the most daunting. The thought of preparing and filing taxes can be stressful for small business owners. However, with a proper understanding of the tax system, small business owners can ensure they comply with tax laws without feeling overwhelmed. Separate Personal…