Anxiety and financial well-being can go hand in hand. Those who are able to manage their anxiety in a healthy way often recognize when they are feeling stressed, and they try not to react to their negative feelings through coping mechanisms that will only make the...
A Blog About The Law In And Around Port Orchard
Now is a good time to calculate your debt-to-income ratio
The first couple months of any new year is a good time to review personal financial information and plan for the upcoming months. If you are struggling to pay everyday expenses or unexpected ones, you may have too much debt relative to your income. Your debt-to-income...
Is a Chapter 7 bankruptcy filing right for me?
Debt happens to many of us, and for many reasons. It could be an injury or illness that resulted in unmanageable medical debt. A job loss, something happening across the country right now, might have taken away your source of income and wiped out your savings. Divorce...
Will I get to keep my house if I declare bankruptcy?
When you feel overwhelmed with debt, you may feel like there’s no way out. You are struggling to pay your bills each month. Your credit card debt has dramatically increased because your employer laid you off earlier this year. Now, you’re in danger of foreclosing on...
Special needs trusts work with benefit programs
While federal and state government programs often provide assistance for people with disabilities, these typically only cover essential needs. Not only that, but individuals and families who have income higher than the limits set by these programs may get no help at...
When is the right time to seek bankruptcy protection?
Most people carry around some form of debt. From mortgages to car payments and credit card balances, it’s likely you owe another party something. Some people are able to keep their debt in check. However, a financial emergency such as an unexpected medical procedure...
5 tips on dealing with the stress of debt
If you find yourself struggling with debt, you might feel overwhelmed about your future. It may bring comfort realizing that you are not alone. In the United States, most adults find that finances are a significant stressor in their lives. To alleviate some of the...
3 ways the automatic stay can give you breathing room
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...
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,...
