Recently on our legal forum a user asked, “I lost my job about six months ago, and I have not been able to find a new one. I live in Texas, and I have owned my home for five years. I am wondering what will happen if I miss too many house payments? How long will it take for the bank to complete a Texas foreclose, and what steps will they have to take?”
Recently on our bankruptcy forum a user asked, “I have a spotty credit history. I have had some issues with my banking practices including frequent over drafts. I also wrote a few hot checks several years ago. Recently I went to open a checking account and was told I didn’t qualify. What gives? Can a bank just decide that you cannot bank there?”
Recently on our bankruptcy forum a user asked, “I have several debts I cannot pay and creditors are hounding me. I know that bankruptcy is not the right choice for everyone. What are some reasons I should consider for NOT filing bankruptcy?”
Before filing Chapter 7 bankruptcy it’s important to understand what it can and cannot do for you. Yes, it may be able to protect you from certain creditors, allow you to eliminate certain debts, give you a fresh financial start, allow you to rebuild your credit, and potentially improve your life, it is not, however, the best choice for everyone.
Recently on our bankruptcy forum a user wrote, “My spouse and I have decided to file Chapter 13 bankruptcy. Given our propensity to overspend and trouble staying on a fixed budget I am worried that we may not be able to complete the plan. Do you have any tips for ensuring that we finish the plan and get a fresh financial start?”
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?”