Right now, many American consumers are struggling with surging debt. As such, more and more people are filing for bankruptcy and subsequently lessening the previous stigma around it. And with good reason. There are so many reasons one might find themselves in debt that have nothing to do with one’s character. Whatever the case, Americans […]
What’s the Difference Between Bankruptcy and Debt Settlement?
October 23rd, 2024 by glmpcadminFrequently Asked Questions About Bankruptcy
September 19th, 2024 by glmpcadminAre you struggling to make ends meet? Unable to keep up with your debts and getting deeper into a financial hole? Filing for bankruptcy could provide significant help and much needed relief. Filing for bankruptcy can give you a chance to start fresh by eliminating debts that you simply can’t pay. It may also enable creditors […]
How Bankruptcy Can Eliminate Credit Card Debt
August 25th, 2024 by glmpcadminAt the unfathomable figure of $1.142 trillion, credit card debt is surging in the United States. If you’re among the many Americans struggling to pay your credit card debt, then you know it’s a significant source of stress that can also take a toll on your mental health. What you may not know is that […]
The 5 Most Common Types of Bankruptcy
June 27th, 2023 by glmpcadminBankruptcy can be a valuable tool for individuals and businesses looking to get out from under insurmountable debt to get a fresh start. The Bankruptcy Code consists of five distinct types of bankruptcy for individuals and businesses for debts owed in the United States (the sixth, Chapter 9, is only available to municipalities to reorganize […]
If You’re Looking for a Cheap Bankruptcy Lawyer Do Your Homework First!
May 31st, 2023 by glmpcadminMany people in need of legal advice concerning financial problems and the possibility of filing bankruptcy understandably want to get it done as cheaply and efficiently as possible. In today’s world of easy internet access, many of us take it upon ourselves to research answers online to become educated on the benefits and pitfalls of […]
Common Bankruptcy Myths
March 21st, 2023 by glmpcadminBelow are some of the most common myths that people believe about filing bankruptcy and the bankruptcy process overall. Filing Bankruptcy Means I’m a Failure There is an old saying that “bad things happen to good people.” Every single day good people experience difficult situations: spouses pass away, people become ill or have medical emergencies, […]
Can Bankruptcy Stop My Car Repossession?
February 20th, 2023 by glmpcadminIf you are behind on your car payments and facing repossession, filing for bankruptcy can help. Filing for bankruptcy will generate an automatic stay, which will stop creditors (at least temporarily) from repossessing the vehicle. Depending on which Chapter of the bankruptcy laws you file under, your options to keep the vehicle will vary. Chapter 7 […]
What If I File a Chapter 13 Bankruptcy and Can’t Make the Payments?
February 7th, 2023 by glmpcadminA chapter 13 bankruptcy is a reorganization bankruptcy in which the debtor’s goal is the entry of an order confirming their proposed chapter 13 plan. Once the plan is confirmed then the debtor makes payments pursuant to the plan for typically 36 to 60 months. When the plan payments have been completed then the court […]
What are the Chapter 13 First Meeting of Creditors and the Confirmation Hearing?
February 1st, 2023 by glmpcadminChapter 13 bankruptcy cases differ from Chapter 7 bankruptcies in many ways. While both have a mandatory Meeting of Creditors as required by 11 U.S.C. Section 341 (a.k.a.-The 341 Hearing), Chapter 13 cases will also have a SECOND hearing early in the case, called the “Confirmation Hearing”. The term “341 Meeting of Creditors” is a […]
The Impact of Medical Debt in a Bankruptcy
November 22nd, 2022 by glmpcadminThe cost of health care is a major problem for many people and can be a prime contributor in the decision to file personal bankruptcy. Bankruptcy can be a useful tool to reduce or eliminate tremendous medical bills. Medical Debt and Bankruptcy A 2021 Census Bureau study found nearly 1 in 5 households (20%) couldn’t […]