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Most of our critical assets are at risk during a financial crisis, including your home, your cars and any of your sentimental possessions. You may even try to take drastic measures to ensure you maintain your possessions. However, if you are pursuing bankruptcy, it’s critical to be transparent about all your assets, even your most sentimental one. If you aren’t,…
A recent decision by the Sixth Circuit United States Court of Appeals based in Cincinnati shows that debtors who refuse to comply with legitimate discovery requests run the risk of significant sanctions. In the case of In re Lane, No. 20-5399 (December 22, 2020), the Court upheld a finding of contempt issued by a Kentucky bankruptcy court against the debtors…
Bankruptcy is usually deemed as your last resort – the only option to save you from drowning in debt. However, bankruptcy is an incredibly common option for most families and adults who are struggling with their finances. You don’t have to be in dire circumstances to apply for bankruptcy, especially if you’re concerned about a specific income bracket for your…
Over the last few weeks as the holidays have approached, you’ve likely been hustling and bustling between a lot of different stores to get everyone close to you the perfect gift. Now that the weather is colder, you may have encountered some icy sidewalks or parking lots in your shopping adventures. If you slip and fall and literally break your…
Fear of the unknown is a powerful motivator for many people. For those overwhelmed by massive debt, many are afraid they’ll lose everything they own when filing for bankruptcy, including retirement savings and even Social Security benefits. That fear often leads them to do nothing, which is usually the worst thing they can do. In reality, most retirement funds aren’t…
When most people think of the benefits of working out, their minds go to physical health and fitness. They imagine weight loss, lower blood pressure, longer lifespan and overall better health. However, there are other types of workouts with huge benefits. For a business owner, they may want to consider a financial workout, which is when a company works closely…
Debt collectors are intimidating to most people because they rely on invasive techniques to receive payments or funds from certain customers. For extreme collectors, they may even resort to improper fear tactics to receive the payment they want. And now, the Consumer Financial Protection Bureau (CFPB) allows debt collectors to work through a new avenue to contact consumers, the internet.…
Bankruptcy Courts across the country are increasing their filing fees effective December 1, 2020. Here is a sample of some of the more common fees that will increase: For filing an amendment to the debtor’s schedules$31$32Search of record or indexes$31$32For filing any document that is not related to a pending case or proceeding$47$49For filing a petition, or splitting a case,…