Yearly Archives: 2022
Inflation Rates: Impact on Bankruptcy Filings
The devastating impacts of the COVID-19 pandemic and the current inflation rate have made life increasingly difficult for many Americans. Over the past 12 months, the consumer price index (CPI) has risen by 7%, a figure not seen since the summer of 1982. This level of inflation has significantly impacted people’s ability to keep… Read More »
Tips to Prepare for 2023 Tax Season with Debt
When it comes to taxes, most people want to do everything they can to avoid owing the government any money. But what if you’re dealing with overwhelming debt? What if you don’t think you can pay your taxes this upcoming year? Filing for bankruptcy is always an option, and in some cases, it may… Read More »
New Study Finds that Medical Debt Affects 1 in 5 Households in the U.S.
A new study has found that medical debt is leaving many people in the U.S. unable to afford groceries or pay their mortgages — even among the insured. The study analyzed three years of data from the Surveys of Income and Program Participation, a survey conducted by the U.S. Census Bureau meant to provide… Read More »
Do I Qualify for Student Loan Debt Forgiveness?
If you’re struggling to make your student loan payments, you may be wondering if you qualify for student loan debt forgiveness. The good news is that several programs are available to help you get relief from your student loan debt. But how do you know if you qualify? Here’s a quick overview of the… Read More »
Why You Should File for Bankruptcy Sooner Rather Than Later
It can be very difficult to deal with debt, especially if you are struggling to make ends meet. If you are considering filing for bankruptcy, it is important to understand the benefits of doing so sooner rather than later. Many COVID-19 financial assistance programs are set to expire soon, and filing for bankruptcy can… Read More »
COVID-19: Bills Are Coming Due for Those Who Received Financial Aid
The COVID-19 pandemic has left many struggling to keep up with their bills. For those who received student loan assistance during the pandemic, bills are starting to come due. If you’re one of those people, you may be wondering how you’re going to pay your bills and get student loan debt relief. Our Los… Read More »
California Bankruptcy Homestead Exemptions Increase for 2022
In April 2022, the Bankruptcy Court implemented an increase in bankruptcy exemptions allowed on certain property. Homestead exemptions allow individuals and families filing for bankruptcy to keep their homes instead of liquidating assets to put towards their debt. However, the homestead exemption only protects homes up to a certain value under Chapter 7 bankruptcy…. Read More »
Chapter 13 Debt Limit Increases with New Law
The Chapter 13 debt limit was raised to $2.75 million on June 21, when President Joe Biden signed the Bankruptcy Threshold Adjustment and Technical Corrections Act into law. Previously, the debt limit to file for Chapter 13 was $1,257,850 in secured debt and less than $394,725 in unsecured debt. The new limit is not… Read More »
Who Is Eligible for Student Loan Debt Relief?
Student loan debt relief can be a difficult thing to achieve. If you’re struggling to make your student loan payments, you may be wondering if you’re eligible for student loan debt relief. With the recent changes made by the Biden Administration, many people are wondering what their options are. Here’s a look at who… Read More »
5 Tips to Balance Debt & Savings
If you are struggling with debt, you are not alone. Millions of Americans carry some form of debt, whether it is from credit cards, student loans, or medical bills. One of the biggest struggles that come with overwhelming debt is not feeling like you can put money into your savings. However, there are ways… Read More »