Filing for bankruptcy is not a tabula rasa. While bankruptcy can help you deal with mounting debt and financial distress, there are certain debts and obligations it cannot erase – and long-term consequences that are inescapable. Perhaps the most severe punishment associated with bankruptcy is not what it does to your wallet, but what it …
Filing for bankruptcy can be a harrowing experience. When filing as an individual, you must prepare to lay yourself bare financially and be open to an intense audit of your personal and business dealings. Whatever is left to your name will be divided among your creditors, and all but the bare minimum will be stripped …
Filing bankruptcy on your own is always an option, but it carries tremendous risk, and finding the right bankruptcy attorney can make a big difference. Bankruptcy cases are often more complicated than meets the eye – and even a single mistake can be quite costly. And when looking for legal help in a bankruptcy case, you are best …
COVID-19’s impact on the economy has been absolutely devastating. Not only have lockdowns and travel restrictions greatly impacted industries across the country, but for every death, there is an assorted collection of infections with short-term and long-term physical deficits, grieving parents and children, and countless Americans laid off as business owners line-up to file bankruptcy. …
Healthcare spending accounted for 17.7 percent of the US’s GDP in 2018, in comparison to just 5 percent in 1960. In individual terms, that is an average of $11,000 per person, for a total of $3.6 trillion. Americans pay significantly more for their healthcare than the citizens of most other developed countries, and rising healthcare …
The process for declaring bankruptcy is a critically important element of our financial system. Giving businesses and people the ability to discharge debts under certain circumstances breathes fresh life into them and earn a second chance in our system. When it comes to financial success, taking risks and hoping for the best is part of …
If you have heard of trusts, then you’ve heard of trustees. The role of a trustee in a trust is act as a fiduciary to the trust’s beneficiary, and to manage the trust in their best interest. In a bankruptcy case, the bankruptcy trustee has a similar task – only their fiduciary duty is to …
When shopping around for an experienced legal professional to represent you on a matter as sensitive and exigent as your own bankruptcy, it’s critical to pick the right partner. As part of that, you will want to make sure you are prepared for a rigorous screening process. Filing for bankruptcy is no simple matter, and …
Bankruptcies largely affect individuals and households – only about three percent of bankruptcies today are incited by businesses, compared to 13 percent in 1980. While bankruptcies have been on a decline since 2011, as the country began to recover from the devastating effects of the financial crisis, 772,646 cases of bankruptcy were filed in the …
To most, the idea of bankruptcy is nothing if not terrifying – but when it is all said and done, bankruptcy represents the chance to start over and get out from under an unfortunate and disastrous situation. Most people assume that bankruptcy is a sign of irresponsibility and an inability to work with money – that …