Category Archives: Bankruptcy
Bankruptcy can carry with it a certain stigma, despite how useful it can be in helping people dig themselves out of their financial struggles. And when considering bankruptcy, you might wonder: will other people be able to find out that you filed? Are bankruptcy filings public? Yes, actually. Most court records, including bankruptcy filings, are public. But, that does not mean that just anyone can access all of your personal information. Typically speaking, your friends, family and acquaintances are not going to find out about your bankruptcy filing unless you tell them yourself. There is a public access system known as PACER that contains information about bankruptcy filings throughout the U.S. But to access this system, you are required to register and pay per page of documents you obtain. As such, the average citizen will not be able to see your bankruptcy filing. However, your creditors and co-debtors will find…
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Did you know that 8 percent of bankruptcy filers are aged 65 or older? This number has been trending upwards since 2008. One reason was the recession, which hit the elderly age group hard. And in some states, creditors are allowed to garnish up to 25 percent of a debtor’s disposable income, so bankruptcy can become an attractive option for people who fall behind on their bills. But perhaps the most common cause of senior bankruptcy is medical debt. Medical debt is the number one source of personal bankruptcy filings in the U.S. and given the high cost of healthcare for elderly people, it is easy for a debt spiral to drag down the finances of seniors with healthcare needs. According to the Consumer Financial Protection Bureau, debt collection is the most-complained about product or service for consumers over 62. The incessant calls and predatory nature of these companies can…
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Bankruptcy is a complex process, and a personal one. For that reason, many people consider trying to wade through the bankruptcy process themselves, without the assistance of an attorney. However, despite your do-it-yourself attitude, it is highly inadvisable to go through the bankruptcy process without a lawyer to help guide you. Bankruptcy is so easy to mess up – even skipping a little step or improperly filling out a form can lead to your case getting thrown out, or certain debts not getting discharged. But what should you look for in a bankruptcy attorney? A deep knowledge of bankruptcy law Someone who understands the complexity of your case, whether individual or for business bankruptcy Someone that you think you can develop a good professional relationship with When seeking a bankruptcy attorney, beware of scams – there are a lot of companies out there promising quick fixes for your financial problems….
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