At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
If you file for bankruptcy, the court is going to issue an automatic stay. There may be collection efforts in process against you or other legal cases pending, and these are paused until your bankruptcy has concluded. Once it has, the automatic stay is lifted. There...
Deciding to file for bankruptcy is never an easy decision, and when you’re married, it can feel even more complicated. If you are struggling with debt, individually or as a couple, it’s natural to wonder how filing will affect both your finances, assets and long-term...
Many people face overwhelming debt at some point in their lives. Some of them turn to bankruptcy, using Chapter 13 bankruptcy to consolidate that debt into a repayment plan or using Chapter 7 bankruptcy to liquidate assets and eliminate remaining debts. However, some...
Credit cards are very common in modern society. Many people rarely carry cash with them at all. They just use credit cards for everything and make one electronic transfer at the end of the month to pay off the credit card from their bank account. That said, there are...
People sometimes underestimate the effect debt has on their lives. While it is primarily a financial issue, the “domino” effects often go far beyond that. Here are some of the ongoing consequences that unaffordable debt may be having on your life. 1. A deterioration...
We’re in precarious economic times, and now the holidays are approaching. If you are planning on filing for bankruptcy due to a mountain of unpaid bills, it could be tempting to run up the credit cards for one final holiday spree. That would be a very bad idea. In...
Bankruptcy can provide emergency relief from extreme financial pressure. People who file for bankruptcy can halt collection activity when they receive an automatic stay. They can discharge some of their debts, making it easier for them to balance their budgets. Not...
Homeowners who are 62 years old or older may decide to tap into their home’s equity without having to sell their property. This is done by getting a reverse mortgage on the property. It can be a financial lifeline in retirement, but there are times when it can become...
Making the decision to file for bankruptcy is a big step in life. One concern that you might have is how you’ll budget. As part of the bankruptcy process, you’ll undergo credit counseling and debtor education. Both contain vital information that can help you to budget...
Filing for consumer bankruptcy can feel like a chaotic process, but getting organized early can make the experience smoother, faster and less stressful. Having the right paperwork ready helps you and your counsel build a strong case and avoid delays. Below is a...