Recently on our bankruptcy forum a user asked, “I met Joe about two years ago. Things have gotten really serious and we are considering getting married. I have seen a few red flags with his spending, and he admitted to me the other night that he has a horrible credit score, over $30,000 in unsecured credit card debt, and already declared bankruptcy two years ago. I am really worried that Joe’s bad spending habits could be a major issue in our marriage. Should I be concerned or does love really conquer all?”
Bloomberg reported earlier this month that Logan’s Roadhouse, the Nashville based steakhouse, was preparing to file for Chapter 11 bankruptcy protection. According to reports, Logan’s, which has two-hundred and fifty restaurants in twenty-six states nationwide, would have to file bankruptcy as early as this month.
Recently on our bankruptcy blog a user asked, “My spouse and I are facing a serious financial crisis. We have an unsecured loan of $59,000, school debts, credit card bills exceeding $20,000, and medical expenses from a cancer scare last year. I have been raised to believe that if you owe money you pay it. My spouse says that there is no way that we can ever repay our debts. Is it ever okay to file bankruptcy?”
Recently on our bankruptcy forum a user asked, “I am getting ready to file bankruptcy. I understand the process can be very complicated requiring multiple forms and an abundance of financial information. Can you simplify the process and tell me exactly what information I will need to gather to accurately complete the bankruptcy forms?”
Recently on our bankruptcy forum a user asked, “I am in a financial crisis. My spouse has divorced me, I need to find a job, and I am suffering from a severe medical condition. I have not worked in years, and I am scared. Additionally, I have over $50,000 in medical debts. I am thinking that my only option might be to file Chapter 7 bankruptcy. Do you have any bankruptcy tips for me or things I need to consider before I file?”
Recently on our legal forum a user asked, “I borrowed $5,000 from a friend three years ago. A few months later I lost my job and got evicted from my apartment. My friend’s been pretty cool about the debt, but he wants the money back. What legal options does he have to force me to pay the debt?”
Recently on our legal forum a user asked, “I am bankrupt. I cannot pay my debts or rent. I talked to my landlord the other day and he was threatening to throw me out and change the locks on the doors. Can he do this? Are there any laws that will protect me until I can pay my rent?”
Recently on our legal forum a user asked, “I am considering filing for bankruptcy protection but I understand it is a serious legal consideration with long-term consequences. I am a renter and one of my primary concerns is whether or not filing bankruptcy may hurt my chances to find an apartment to rent.”
Recently on our bankruptcy forum a user asked, “I have been in a financial crisis for several years and it seems no matter what I do I can’t seem to get out of debt. How do I know when it might be time to file bankruptcy?”
Reasons you might want to file bankruptcy
Bankruptcy is an important financial decision, and it’s not the right choice for everyone. Before deciding whether to file bankruptcy it’s good to understand what bankruptcy will and won’t do for you and when it might be the right decision for you.
Recently on our legal forum a user asked, “My wife and I are having a disagreement. We currently have $40,000 of unsecured credit card debt on one card with several other smaller amounts on other cards. We also have another $20,000 of school loans. She wants to file bankruptcy and start all over again. I want to repay the debt using Dave Ramsey’s Debt Snowball Plan. What do you suggest?”