At McElroy & Associates, We Understand That Bad Things Can Happen To Good People
Get A Fresh Start Through Bankruptcy
Chapter 13 bankruptcy allows people to keep their property while eventually qualifying for a discharge of their debts. They must make several years of payments through a court-approved repayment plan before they are eligible for that discharge. Typically, only...
Certain rules limit Chapter 7 bankruptcy proceedings. Only some people are eligible for this relatively rapid form of bankruptcy. Additionally, the discharge available only applies to certain unsecured debts, such as credit card balances and medical bills. Individuals...
An individual’s credit score is like a snapshot of their financial health. It provides insight into their financial conduct at a glance. A credit score provides an idea of an individual's creditworthiness, while the other details on their credit report can help show...
When you face mounting debt and ongoing child support obligations, bankruptcy might seem like a way to ease your financial burden. However, the relationship between bankruptcy and child support is more complex than you might think. Thus, understanding how these two...
Cancer survival rates are higher than ever. Advances in modern medicine have made it possible for people to achieve remission from cancers that used to be a death sentence. Chemotherapy, surgery, radiation treatments and immunotherapies can all combine to give people...
Divorce disrupts your life in many ways -- especially financially. Even people who were economically stable during their marriage often find themselves struggling after a divorce. You may now be living on one income while carrying joint debt alone or dealing with...
Filing for bankruptcy is a difficult and embarrassing decision, but it is sometimes necessary to get a fresh start. After the tedious process, the next challenge is rebuilding your credit, which takes time and discipline. Many people face financial hardships in...
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...
A Chapter 13 bankruptcy is a multi-year process. In addition to waiting for hearings in court, filers also have to complete a lengthy repayment plan. The person seeking relief through a Chapter 13 filing makes a single monthly payment to the courts, which the trustee...
Deciding to file for chapter 7 bankruptcy is never an easy decision to make. While this option can help relieve you of some debt, it does not eliminate all types of it. Knowing how your debts are classified can help you understand what the bankruptcy process...