Monthly Archives: July 2020
Advocates Want to Ban Employers from Using Credit Checks in Hiring
One fear many consumers have about filing for bankruptcy is the possibility that a future employer might find out about it. This fear is well-grounded. One survey found that around 30% of employers did a credit check on job applicants, and a bankruptcy will show up. According to a news story published on Fox… Read More »
Should You File for Bankruptcy before Getting Married?
Unfortunately, a lot of us are struggling right now, with job loss, health crises, and perhaps some financial mismanagement in our youth. Debts pile up, and it becomes impossible to keep your head above water. One question we hear from people is whether they should file for bankruptcy before getting married or wait until… Read More »
Business Bankruptcy Filings Accelerate
We are now several months into the coronavirus pandemic, and many bankruptcy attorneys have been predicting a wave of filings. As reported by the business press, the predictions are proving accurate. The bankruptcy filings this year have increased at the fastest pace since 2013—and there is no end in sight. Certainly, with coronavirus infections… Read More »
Options for Reducing Medical Debt
It is very easy to fall into medical debt, even when a person has insurance. Many insurance policies have high deductibles and low coinsurance rates, not to mention co-pays for things like office visits and prescription drugs. Even relatively simple medical procedures could cost thousands of dollars, and if a person needs surgery, then… Read More »
Pros and Cons of Filing for Bankruptcy?
Filing for bankruptcy is a big step. But, for many people, it is a necessary one that finally gives them the power to move on with their lives. Crippling debts reduce a person’s options, including the types of jobs they can take and where they can live. By finally ridding yourself of debt, you… Read More »
Can You Get a Car Loan after Bankruptcy?
Although a bankruptcy stays on your credit report for years, odds are high that you can’t wait for it to fall off before buying a new set of wheels. But is it even possible to get a loan after filing for bankruptcy? And what steps do you need to take to improve the odds?… Read More »
Think You Might File for Bankruptcy? Take These Steps Now
We have previously written about how important it is to time your bankruptcy just right. Once a consumer files, they cannot add future debts that they incur to their bankruptcy. With the economy in free fall, many people are racking up debt just trying to keep their heads above water. Believe it or not,… Read More »
Virginia Man Fakes Death to Avoid Losing Assets in Bankruptcy
Some people will do anything to avoid bankruptcy court—including faking their own death. Complex has an interesting article about the lengths one Virginia man took to avoid losing assets during his bankruptcy. The schemes used certainly go above and beyond what most people are willing to do. However, this story serves as a definite… Read More »
Giant Retailer J.C. Penney Files for Bankruptcy
J.C. Penney is the latest retailer to file for Chapter 11 bankruptcy protection. According to USA Today, the retailer expects to close almost 30% of its stores as it tries to emerge leaner and more competitive. In all, about 242 stores should close in the next fiscal year, leaving Penney’s with a little over… Read More »
5 Things to Know Before Filing for Bankruptcy
Filing for bankruptcy is an option many people dread. However, for many consumers it is the most sensible option. Filing for bankruptcy protection grants a consumer immediate protection from any collection actions, such as lawsuits on unpaid debts or eviction actions. Depending on the bankruptcy you file, you might also be able to eliminate… Read More »