When you’re behind on your bills, the last thing you need is constant reminders from creditors and bill collectors. Creditor harassment can make a dire situation feel hopeless. Fortunately, filing for bankruptcy protection will institute an “automatic stay.” An...
A Blog About The Law In And Around Port Orchard
THE COVID-19 DEBT BOMB
I have been a bankruptcy attorney long enough to have watched the economy ebb and flow numerous times. Sometimes the ebb or flow may be slow and gradual. The real estate boom of the mid 2000s was a slow ebbing bubble that was bound to break and the fallout lasted...
How is Chapter 7 bankruptcy different from Chapter 13?
Between Oct. 1, 2005, and Sept. 30, 2017, the U.S. Courts states that approximately 12.8 million people filed consumer bankruptcy, and you may have considered doing the same in the midst of financial difficulty. Either because of insufficient income or another cause,...
The Covid Stimulus and Chapter 13
The Covid-19 Pandemic has had a devastating effect on the economy. Individuals and small businesses have been especially hard-hit and unemployment claims have skyrocketed beyond most worst-case scenarios. Congress has passed, by a near unanimous vote, a major stimulus...
How do you know when you should file for bankruptcy?
Most Americans struggle with debt. Whether it's from medical bills or credit card debt, getting behind on payments can be an overwhelming and stressful experience. But what can be even more daunting is the prospect of having to file for bankruptcy.However, just...
Small business bankruptcy
In August President Trump signed a law that significantly reforms Chapter 11 for individuals and small businesses. The law become effective on February 19, 2020.When an individual or small business wanted or needed to restructure debt, there were two options. Chapter...
Bankruptcy can reinstate your driver’s license
Sometimes our country’s laws are well-meaning. When the department of motor vehicles suspends your license for things like unpaid tickets or fines, the intention is to incentivize you to pay your debt. However, there are several problems with this in some...
Estate planning tips for single people without kids
If you don’t have children, and you don’t have a life partner, you may feel uncertain about what to do with your assets when you pass—or whom to designate as your decision maker if you become incapacitated. You may not have close family or friends...
How does Chapter 7 bankruptcy work?
If you’re having difficulty with your finances, you’re not alone. Many people have trouble keeping their heads above water, and money issues can cause undue stress.Sometimes the best option for handling your debt is by filing for bankruptcy. On average,...
Why it’s important not to procrastinate filing bankruptcy
For some of us, procrastination has been a constant throughout school, work, at-home responsibilities — everything. For others, it just happens on occasion — when we’re feeling really overwhelmed.No matter which category you fall into, you’re...
