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Bankruptcy Myths And Facts
Before you file for bankruptcy, it is important to educate yourself on the bankruptcy myths and facts of the law. As with many types of law, there are a lot of misconceptions of the bankruptcy process that are exaggerated or simply not true, such as images of people repossessing all of someone’s belongings. Before making this life-changing decision, it is essential to discern facts and misinformation. While a bankruptcy filing is often the right move for people who have accumulated steep...
How To Afford Bankruptcy Lawyers While In Debt
Though often associated with a negative stigma, filing for bankruptcy is often a wise decision for people trying to regain control of their financial situation and take steps toward a better financial future. One of the challenges of filing for bankruptcy is creating a plan to pay for the legal fees and bankruptcy lawyers recommended for filing. When you file for bankruptcy, you have to pay a filing fee, which varies by state but is usually a few hundred dollars. Additionally, it is highly...
How to Update Your Estate Plan
An estate plan involves preparing necessary managerial tasks for heirs in the event of incapacitation or death of the property owner. The planning procedures include the bequest of assets, an arrangement of estates, and settling of the estate taxes. It would be best if you expedite the update of your estate plan, as this ensures the preservation of your assets and personal properties. One of the good things about an estate plan is that it cannot become expired once it is set up. However,...
How To Get Through Bankruptcy Stress With Your Sanity Intact
Bankruptcy stress can have a tremendous negative toll on a person’s mental and emotional well-being. Even though a bankruptcy filing may feel like a weight lifted off some people’s shoulders — that feeling is not shared by all. The accumulation of debt is stressful, and a bankruptcy filing is supposed to relieve that feeling. So, why doesn’t it? Why does bankruptcy stress feel as intense or more severe than becoming buried by debt? For starters, bankruptcy has negative social stigma and many...
Increase in Individual & Business Bankruptcy During Pandemic
The pandemic has been a tragedy for everyone worldwide, changing our habits revolving around our livelihoods and visiting loved ones. Unfortunately, many people are seeing their debts pile high as the pandemic continues to impact their lives, businesses, and careers. This has led to a predicted increase in business bankruptcy filings for business owners and individual filings for everyone else. What Types of Bankruptcy Are There? Despite the negative social stigma, bankruptcy does not...
