Bankruptcy Archives - LegalASAP

Filing for bankruptcy can help get your finances in shape. But choosing the right chapter and navigating complex legal matters can be challenging to navigate alone. This post will cover chapter 13 bankruptcy—what it is, how it works, and how a bankruptcy lawyer can guide you along the way.   Chapter 7 versus chapter 13...

Filing for bankruptcy can help families with overwhelming financial burdens reset their finances. And, yes, that means discharging a significant amount of debt. However, it’s important to know what debts can and can’t be discharged so families can set realistic expectations during the process. This post will highlight what debts you can or can’t remove...

Student loan forgiveness is a hot-button topic in the United States right now. President Joe Biden has been criticized for his take on this topic, while Senator Elizabeth Warren has been an advocate of allowing for student loan forgiveness.  Contrary to popular belief, student loans can be discharged if a person files for bankruptcy, but...

Bankruptcy is a common occurrence, with over 400,000 bankruptcy filings in the United States in 2021. And as bankruptcy lawyers will tell you, this number was down 24% compared with the year before.  As common as bankruptcy is, it continues to carry a stigma for many Americans. It’s associated with many misconceptions that confuse the...

The COVID-19 pandemic saw a wave of large businesses file for bankruptcy. Common household names like Greyhound and J.Crew had bankruptcy lawyers working overtime. Still, it was small business owners that suffered the most. For many ma-and-pa businesses, filing for bankruptcy was the only way to reset and get a fresh start.  This post will...

There’s no question that the COVID-19 pandemic has changed the landscape for many when it comes to personal finances. Suppose you’ve lost your life savings or accumulated debt due to COVID-19 job loss and closures. In that case, bankruptcy lawyers may be your best bet for getting clear. The right legal representation can also help...

Bankruptcy allows individuals who can’t pay their debts to find a manageable payment plan or eliminate some or all of their debts by liquidating their assets. Filing a bankruptcy claim can be complicated, however. What if you have a house? Does filing a claim in bankruptcy court mean you will lose your home?   A...

Financial troubles can happen to anyone. If you are drowning in debt, personal or corporate bankruptcy can help you get a fresh start.  This post will discuss the different types of bankruptcy available to businesses and individuals. We’ll also discuss how bankruptcy lawyers can help your bankruptcy claim.   The Importance of Filing Bankruptcy  Bankruptcy...

In marriage, many couples share a life that often includes their finances. But if one partner has a large amount of debt, their spouse is not automatically responsible for paying that debt. In fact, there may be circumstances where it makes sense for only one spouse to file for bankruptcy rather than file jointly as...

In the United States, there are various “chapters” of bankruptcy. Each having its own implications makes it vital for those filing for bankruptcy to understand them, and how that influences the legal representation they will seek. This post will look at different bankruptcy chapters and how bankruptcy lawyers can help.    Chapter 7 Bankruptcy Chapter...