What is Alternative Debt Resolution?


When you are considering bankruptcy, you may come across the term ‘Alternative Debt Resolution.’ Do you know what that means? Alternative debt resolution is when an outside, impartial person attempts to help resolve your debt with your creditors for you. This can happen in a variety of ways, and it is an option for some people, but may not work for everyone. Steps to Successful Alternative Debt Resolution Liquidate Assets This is not an option that many people want to consider because it means losing property. However, it can be of great assistance and may not hurt as much as you [...]

What is Alternative Debt Resolution?2019-05-07T14:16:37-04:00

Why a Bankruptcy Attorney is More Affordable Than You Think


Why a Bankruptcy Attorney Can Help Save You Money The number of people filing for bankruptcy has reached its lowest point since 2007. However, experts believe this has more to do with factors other than an increased ability to pay off debts, though a stronger economy is likely still a factor. One key reason for the decrease in bankruptcy filings could be that consumers simply believe they can not afford to pay the legal fees they would incur if they filed. If you are facing bankruptcy, paying an attorney for assistance may seem impossible, given your difficult financial situation. However, a [...]

Why a Bankruptcy Attorney is More Affordable Than You Think2019-02-19T13:44:53-04:00

How Does Bankruptcy Work?


While bankruptcy rates have dropped across the United States, indicating an improvement in the economy that is a welcome change for many consumers, some areas have benefitted more than others. Alabama, Tennessee, and Georgia remain the states with the highest bankruptcy rates. In fact, bankruptcy rates climbed slightly, even as they fell in other states. Continue reading as we answer the question "how does bankruptcy work?" Answering the Question: How Does Bankruptcy Work? Many people wonder "how does bankruptcy work." If you are struggling to keep up with your debts, bankruptcy may allow you to eliminate debt through the sale of [...]

How Does Bankruptcy Work?2019-02-18T15:30:51-04:00

​What are my Options Before and After Car Repossession?


What to Do if You are Facing Car Repossession If you are behind on your car payments, in many cases, your lender can repossess your vehicle without giving you any type of notice. However, bankruptcy can help stop the repossession and can even help you get your car back if it has already been repossessed. Bankruptcy Automatic Stay As soon as you file for bankruptcy, an automatic stay goes into effect. This means that your creditors must stop all attempts to collect their debts from you. They can not call you, move forward with a lawsuit, sell, repossess, or foreclose on [...]

​What are my Options Before and After Car Repossession?2019-02-28T15:23:07-04:00

​What to Consider Before Filing Bankruptcy


Important Points to Consider if You are Thinking About Filing Bankruptcy Bankruptcy can seem like you are pushing a button to reset your finances. If you are considering bankruptcy, you need to know that that fresh start comes with a set of liabilities and gifts. Here are 10 things to think about if you are considering filing bankruptcy. There are two main kinds of personal bankruptcy: Chapter 7 allows you to walk away from your debts entirely and is used by people whose debts are too high or income so low that they do not have money for a payment plan [...]

​What to Consider Before Filing Bankruptcy2019-02-28T15:20:58-04:00

What are the Alternatives to Bankruptcy?


Understanding Alternatives to Bankruptcy Many people do not want to declare themselves bankrupt, and in some situations, it is not the best option either. Luckily there are plenty of alternatives to bankruptcy, and an experienced attorney will be able to advise you what those options are. A consultation with an attorney at the Cornwell Law Firm can help you determine if any of the following alternatives to bankruptcy might be the best option for you. Debt Settlement: In some situations, creditors and lenders will work with their debtors to create a debt settlement. These settlements are often given to individuals who [...]

What are the Alternatives to Bankruptcy?2019-02-28T15:20:50-04:00

Dealing With Debt Collectors


Harassing Debt Collection Can Be Stopped Harassment on the part of bill collectors is a common phenomenon now in the United States. It is estimated that close to 15 percent of Americans are receiving debt collection telephone calls. If you are having trouble with debts and collection calls, don't think you are the only person with this kind of problem. FDCPA or the Fair Debt Collection Practices Act makes it illegal for bill collectors to be abusive or unfair or to lie when they attempt to collect a debt. This is a federal law, and it applies to collection agencies, attorneys [...]

Dealing With Debt Collectors2018-05-08T19:12:47-04:00

Are You a Good Candidate For Bankruptcy


Are You A Good Candidate For Bankruptcy? Owing money does not feel good, especially when the amount feels overwhelming. Debtors sometimes feel like they are drowning, which leads them to consider bankruptcy. The problem is that many do not know this is an option they can consider. It is okay to feel unsure because bankruptcy is a tricky option that can seem confusing, but the following four signs may help you figure out if bankruptcy is right for you: Question 1: Exactly How Much Debt Are You In? The first sign that bankruptcy might be the right option for you is [...]

Are You a Good Candidate For Bankruptcy2019-02-28T15:21:51-04:00

Student Loan Bankruptcy


Student Loans and Bankruptcy The number of students facing student loan debt has increased manifold. Education has become expensive and it is not possible for everyone to finance it. It has resulted in a large number of student loan debts. However, it is not all bad news. Now there are various ways to deal with student loans. Even when a student is under default and facing bankruptcy, there are effective measures that help rehabilitate the student loan. Know the Type of Loan You Have Borrowed This is the first step in determining if you are eligible for loan relief consideration. There [...]

Student Loan Bankruptcy2018-05-07T15:25:45-04:00

What Do I Need to Report When Filing for Bankruptcy?


What Do I Need to Report When Filing for Bankruptcy? Consider the essential documents needed for filing Bankruptcy. Whether filing a Chapter 7 or Chapter 13 bankruptcy, the paperwork required is usually the same. In order to file the correct documents make sure you check your district as well as the trustee handling your bankruptcy. Listed below are the typical documentation needed for filing. Tax Returns It is probable that you will have to submit copies of your tax transcripts as well as your tax returns for the past 2 years. Additionally, you will need to provide a valid explanation for [...]

What Do I Need to Report When Filing for Bankruptcy?2019-02-28T15:20:00-04:00
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