If you’re pondering about taking someone’s name off a mortgage, a significant life event is likely unfolding. There are many reasons why you might want to change the name on your mortgage. This could include getting a divorce, splitting up with a partner, or just wanting to give the other person more financial flexibility. But […]
If you are convicted of a felony in Michigan, it will have long-lasting effects on your life. Although a felony conviction might make it hard to get specific jobs and lose some civil rights, remember that this does not have to be the end of your life. There are many ways to overcome the challenges […]
What is the difference between pre-foreclosure and foreclosure? Pre-foreclosure occurs when a homeowner falls behind on mortgage payments and the lender threatens to repossess the home. Foreclosure occurs when the lender sells the home at auction or forecloses through the courts. Both pre-foreclosure and foreclosure can be stressful for homeowners. In both cases, it is […]
Bankruptcy is a legal process that helps individuals or businesses eliminate or repay their debts. In some cases, however, bankruptcy may be dismissed. A dismissal can happen for several reasons, such as if the debtor does not follow the rules of the bankruptcy process or if the debtor’s creditors object to the discharge of the […]
Alimony, also called spousal support, domestic support obligation, or maintenance, is a payment from one ex-spouse to another. The payments are typically made after a divorce or legal separation. Alimony can be ordered by a court or agreed upon by the divorcing parties. The spouse who is paying the bills is called the “supporting spouse” […]
Technically, you are allowed to gamble while in Chapter 7 bankruptcy. However, there are a few things that you need to keep in mind if you do choose to gamble while amid your bankruptcy case. First and foremost, any money that you win while gambling will become part of your bankruptcy estate. This means that […]
When you file for bankruptcy, the court issues an automatic stay. This means that creditors are no longer allowed to contact you or try to collect debts. The automatic stay is in place for the duration of your bankruptcy case. However, there is one exception to the automatic stay: the 90-day clawback period. It is […]
The answer to this question is generally no. When you have a lot of debt (from credit cards, personal loans, medical bills, or a car loan), expect to receive more calls from creditors than you’d like. It isn’t very pleasant to feel like your phone has been taken over and you’d want the calls to […]
One of the good things about filing for Chapter 7 bankruptcy is that it eliminates your debts, which might include credit card charges. If you’re considering filing for bankruptcy, it’s important to understand what will happen to your credit cards. It’s time to stop using your credit cards once you’ve decided to file bankruptcy. The […]
There are many factors to consider when deciding whether or not to file for bankruptcy as a small business. Some common reasons why businesses seek to file bankruptcy include: To discharge debt that the business is unable to pay To reorganize the business and its finances To sell off assets to raise money to pay […]
