Bankruptcy Law Blog

A debt discharge in bankruptcy will free you from the liability over the debt going forward. There are certain types of debt that are not eligible for a debt discharge in bankruptcy unless the debt is resolved, such as recent federal taxes, some student loans, and secured debts where the collateral is not being surrendered.…

Many people have questions about how the debt discharge works in bankruptcy. A debt discharge is the ruling of the court declaring your debt ineligible for collection and discharged from your liability of payment. In other words, when a debt has been discharged you are no long legally liable for repaying the debt. However, there…

According to Experian, the average credit card debt per borrower is $4,858. That’s not a small amount. The average interest rate on credit cards is around 15 percent, which means that the average credit card debt can cost you almost $1,000 in interest payments alone. If you’re carrying a balance on your credit cards and…

Bankruptcy lawyers represent debtors, helping them file for bankruptcy. Bankruptcy lawyers assist debtors in understanding the filing process and help them understand the debt repayment plan that the court will require debtors to follow. Some debtors hire Roseville bankruptcy lawyers to represent them during the bankruptcy proceedings. The bankruptcy lawyer will represent the debtor before…

A common bankruptcy myth is that filing bankruptcy will ruin your credit for the future. The truth is, most people find their credit improves following a bankruptcy. While a bankruptcy will be recorded on your credit score for up to ten years, it is not the end of the road for obtaining credit. You can…

Filing for bankruptcy is not always an easy path, but it is essential to avoid inevitable common mistakes that many individuals have made in the past. Mistake #1: Waiting too long to file One of the main mistakes debtors make is waiting too long to speak with a bankruptcy attorney, opening their financial insolvency to…

Step 1: Filing the Bankruptcy Petition: You must file a petition with the court. This is a legal document that says you want to file for bankruptcy. You will need to provide information about your address, prior bankruptcies, and type of bankruptcy that you are filing. Be sure to have records and any documents organized…

News has been circulating that student loan debt may soon be next for financial relief for struggling Americans. The appropriate method for providing student loan debt relief has been a focus of controversy for quite some time; but, has recently sparked the conversation again as millions face financial hardship in recent months. This has many…

For many Americans, finances are tight and the unknown of the coming months is frightening. Many families are facing not only financial hardship, but are also at risk of eviction and bankruptcy from high medical expenses and limited income. Fortunately, there are some options to eliminate medical debt. Bankruptcy Options In a Chapter 7 bankruptcy,…

Getting a loan after bankruptcy is not impossible. It is in fact quite possible to get a loan after a bankruptcy. However, the borrower must understand that it is not going to be easy. It is not going to be simple because lending institutions are still very wary of giving loans to people who have…