It was announced in early December that the Boy Scouts of America might be filing for Chapter 11 as a result of the number of lawsuits it had to settle in the wake of numerous sexual misconduct allegations against one scoutmaster.
While no one places “bankruptcy” at the top of their resolution list, many do place “figure out debt” at the top of that list.
Bankruptcy allows consumers a way out of debt, but it’s important to remember that there are repercussions that can ruin people’s credit as well as put consumers at risk of losing their property.
If you’ve been living under a mountain of debt the only thing you may be asking Santa for this Christmas is a clean financial slate.
When filing a Chapter 13 bankruptcy, a debtor will not lose any property (including your home) to the bankruptcy trustee. The filing also does not affect a debtor’s mortgage.
To qualify for a Chapter 7 bankruptcy in Arizona you will need to take the Arizona Means Test, during which your income is compared to the median income for a household of your size.
The day after Thanksgiving, Black Friday, was rightly named, typically on that day customers make so many purchases that they put retailers in “the black.
Medical-debt continues to be the biggest cause of bankruptcy filings. If you are struggling to pay back bills brought on by a stay in the hospital or an illness, you should contact a bankruptcy attorney that can help you figure out the best way to move forward.
Debtors will often go to the extreme in order to clear their names of debt. This often means committing bankruptcy fraud in an attempt to clear debt, or make money.
One of the quickest bankruptcy options available for businesses is a pre-packaged bankruptcy. While “pre-packaged” might sound like a great option for you, you’ll want to work with a skilled bankruptcy attorney that can advise you on the specifics of your bankruptcy.