Exploring the Potential of Bankruptcy to Recover a Repossessed Vehicle Losing a vehicle to repossession can be a significant blow, impacting daily life and personal freedom. If you’ve experienced this setback, you might be wondering, “Can bankruptcy help me get my car back after repossession?” According to bankruptcy attorneys, bankruptcy may indeed be a tool to recover your repossessed...
Continue ReadingA Closer Look at Medical Debt & Bankruptcy Laws Medical emergencies can strike without warning, leading to hefty medical bills that can pile up, leaving individuals and families in a financial pinch. If you find yourself buried under a mountain of medical debt, you might be asking, “Can you file bankruptcy on medical bills?” According to experienced bankruptcy lawyers,...
Continue ReadingHow Chapter 13 Helps Prevent Foreclosure & Stop Debt Collectors Individuals may use a Chapter 13 proceeding to save their home from foreclosure. Filing for bankruptcy under Chapter 13 can quickly put a stop to debt collectors, and help you find relief from your debts. This safeguard, known as Automatic Stay, is a crucial protection for individuals seeking bankruptcy...
Continue ReadingCan Student Loans Be Discharged In Bankruptcy? It is possible to include student loan debt in your bankruptcy filing and get it approved by the court if you can prove undue hardship. While most student loans are not automatically discharged in bankruptcy, engaging a skilled Honolulu debt relief attorneys can increase your chances of having your student debt forgiven....
Continue Reading2 Years to 720 Credit Score After Filing For Bankruptcy Filing for bankruptcy can be a challenging decision, but it can also be a fresh start. However, it’s crucial to comprehend how bankruptcy will impact your credit score. This is where our Honolulu debt relief law firm, Blake Goodman, P.C. can help you understand the nuances. One question we hear...
Continue ReadingWhat to Expect at a Consultation with a Maui Bankruptcy Attorney Before your attorney can advise you on debt relief options, they need to know about your financial situation. The bankruptcy consultation gives you the chance to share your financial information and explain what led you to seek bankruptcy. A consultation also lets you meet with a Maui bankruptcy...
Continue ReadingIf your debt has been forgiven, you may be wondering if or how it impacts your tax obligations. The IRS considers any cancellation of debt as ordinary, taxable income. Although forgiveness of debt on a Form 1099 comes with tax consequences, there are some exceptions and exclusions. Today, we will take a look at debt forgiveness income and its...
Continue ReadingBankruptcy is a powerful tool for improving your spot in life. If you’re struggling to pay your bills, exhausting your savings, and dodging collection calls day and night, you might have options. For the right individual, there can be several advantages to filing bankruptcy in Hawaii. This can help eliminate the amount you owe and give you a fresh...
Continue ReadingWhat Can Happen If I Fall Behind on Debt? If you fall behind on a debt, the creditor has several options to collect: They can engage in its own collection efforts Enlist a third party to collect on its behalf, or Sell the debt to a debt buyer who would then step into the shoes of the original creditor....
Continue ReadingBankruptcy Can Give Debtors a Fresh Start It’s always in the back of our client’s minds on the eve of filing bankruptcy. What sort of interest rates will I get when applying for a future car loan? Will I ever qualify for that home loan? Are credit cards going to be beyond my reach for the next 10 years? These...
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