Articles Tagged with debt

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

The reason most people feel forced to consider filing for bankruptcy is because their debts increase to unsustainable levels. Whether it’s a few large debts or many small ones, the total amount owed becomes too much to keep up with, requiring you to consider filing for bankruptcy. The hope is that bankruptcy wipes these debts away, allowing you to start fresh with a clean slate. Though that’s the goal, it’s unfortunately not always the reality. The reason is that some debts can’t be easily escaped and can instead follow you despite filing for bankruptcy protection. To learn more about which debts are hardest to shake, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Will I lose my property if I file for bankruptcy?”

When Teresa Giudice’s name has appeared in the press for the last half-decade, it has usually not been uplifting press for the former “Real Housewives of New Jersey” star. Bankruptcy fraud convictions, millions owed in debt and a stint in the federal penitentiary have dampened the celebrity she once enjoyed as a reality star, and the hits just keep on coming.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is the means test?”

A Clinton County, Illinois farmer whose bankruptcy fraud case became intertwined with a double murder in 2007 was released from prison this April to a prison-sanctioned halfway house.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

In what some are saying is the final nail in the coffin for the coal industry, the largest private-sector coal mining company in the world filed for Chapter 11 business reorganization bankruptcy on April 13. The filing, by St. Louis-based Peabody Energy, is but one in a long stream of bankruptcies filed by major coal companies in the United States in the last several years. However, Peabody’s liabilities make it the biggest U.S. corporate bankruptcy this year according to data compiled by Bloomberg. The filing estimates the coal giant’s debt at $10.1 billion.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What are my alternatives to bankruptcy ?”

As we discussed on Tuesday, the rapper 50 Cent (also known as Curtis James Jackson III), has found himself in legal hot water after the bankruptcy judge presiding over his case caught wind of recent social media posts that seem to indicate the rapper is worth far more than his stage name implies. In a series of Instagram and Twitter updates, 50 Cent posted photographs of himself sleeping with, standing next to and spelling words out of giant stacks of money.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are my alternatives to bankruptcy ?”

The rapper 50 Cent has been in the news since he filed for bankruptcy last year, claiming that two separate court-ordered judgments and other high expenses pushed him into bankruptcy. However, his bankruptcy case took an interesting turn this [week] after the bankruptcy judge ordered him to appear and explain numerous photos he has been posting on Instagram of himself surrounded by $100 bills and stacks of money.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Are my 401k and IRA protected in bankruptcy?”

A recent article in the Detroit News discussed the case of an attorney who had to advise a client not to file for bankruptcy despite a massive $400,000 mountain of debt. The reason? Because the man had recently inherited an IRA from his deceased mother. According to a recent U.S. Supreme Court case, the money contained in the IRA would not be protected during the bankruptcy process and would instead be forfeited to pay off creditors. Given the certain loss of the money, the man decided to avoid filing and continue struggling under an impossible debt burden.

Bankruptcy Lawyer Bryan W. Stone answers the question “Does Bankruptcy stop foreclosure?”

One of the most important aspects of the bankruptcy process, at least for those eager to end the harassing calls from collectors, is the automatic stay. The automatic stay serves as an immediate (though temporary) stop to the vast majority of debt collections. Though the automatic stay is powerful and can be a welcome relief to many bankruptcy filers, there are limits to what it can do. To find out more about the automatic stay, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question “Do I need an attorney to file bankruptcy?”

Experts in the field of bankruptcy law gathered recently in Arizona to discuss legal changes and how these changes have impacted the majority of debtors. Those gathered at the symposium concluded that the changes that were part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) were not only ineffective, but served to make the bankruptcy process more confusing and more expensive for debtors. Ultimately, changes designed to make the process more difficult succeed only in driving away potential filers, helping creditors at the expense of those who may desperately need the relief offered by bankruptcy protection.

Bankruptcy Lawyer Bryan W. Stone answers the question “Can I get credit after filing personal bankruptcy?”

Bankruptcy can be a confusing process given the often-technical terms used by creditors and bankruptcy courts. Even understanding what has happened to your debt, whether you need to repay or not, can be difficult to determine in some cases. To find out more about various terms used to describe the status of debt, keep reading.