Bankruptcy possible even if you have property or income Chapter 13.

Computer generated bankrupt conceptual image Unexpected difficulties may arise in life. You may have a sudden accident, you may get sick, or you may face various situations in which money is urgently needed. In some cases, you’re working hard to make money, but once you’ve accrued debt, it’s hard to pay it off. As I said in the previous column, bankruptcy in the United...Read More

Doesn’t bankruptcy make you homeless?

Computer generated bankrupt conceptual image bankruptcy!! Bankruptcy in media such as Korean dramas and movies is often depicted as a complete financial breakdown, literally sitting on the street, or with red foreclosure stickers attached to all items in the house, so most people think of these images. Rather, bankruptcy in the United States has...Read More

Can the house I bought with my relatives disappear due to the bankruptcy of the relatives?

Scope of liability in bankruptcy When you go through bankruptcy cases, you see cases where relatives own the house jointly. For example, parents may share a house with their children, or sisters may buy and rent a house together with the intention of earning pocket money. In this situation, if the person who owns the house wants to file for bankruptcy, the decision is not easy. Because...Read More

Can my employer fire me after they know my bankruptcy record?

Can my employer fire me after they know my bankruptcy record? Computer generated bankrupt conceptual image An employer cannot fire an employee just because the employee has filed for bankruptcy. Also, employers cannot use whether you file for bankruptcy as a reason to change your working conditions. For example, an employer cannot reduce pay or demote an employee just because an employee...Read More

In case of bankruptcy, will my employer know if I am bankrupt?

In case of bankruptcy, will my employer know if I am bankrupt? Creditors are the only people who are notified of bankruptcy. Generally, my employer will not be notified of my bankruptcy unless my employer is listed as a creditor in bankruptcy. Of course, bankruptcy records are public records that can be viewed. So, if your employer decides to check your bankruptcy record, you may be able to...Read More

Free Yourself From Harassing Collection Agency Phone Calls

Can I stop my creditors from calling me if I go bankrupt? Many of the client who seek our consultation regarding bankruptcy say that one of the most stressful things they go through is the numerous harassing calls that they receive from collection agencies. Even upon telling them to stop calling, these collection agencies continue to call day and night. Most of all, the clients express...Read More

If I go bankrupt, will it affect my spouse’s credit?

If I go bankrupt, will it affect my spouse’s credit? If I go bankrupt, will it affect my spouse’s credit? no. Filing for bankruptcy will not negatively affect your spouse’s credit because it goes through your Social Security Number. However, if your spouse is a co-signer to your debt and the debt has not been paid, the creditor may report negatively on your spouse’s...Read More

What happens to life insurance if I go bankrupt?

What happens to life insurance if I go bankrupt? Computer generated bankrupt conceptual image Life insurance is an important tool that can provide financial protection for the surviving family in the event of an unexpected accident. That is why, among those who are considering bankruptcy, those who have life insurance are curious about the impact that bankruptcy will have on their life...Read More

Can SBA loans be forgiven in bankruptcy?

Can SBA loans be forgiven in bankruptcy? Computer generated bankrupt conceptual image Yes, it is possible. An SBA loan is a loan that small and medium-sized businesses can apply for when they need start-up/working capital. What makes SBA loans different from other loans is that they must be approved by a federal agency called the US Small Business Administration. Many people think that SBA...Read More

I’ve been laid off from my job due to the coronavirus, will it affect my permanent residency if I apply for unemployment benefits?

Unemployment benefits and permanent residency Due to the COVID-19 situation, not only the general self-employed, but also professional offices and medium-sized enterprises are in emergency. This is because US President Donald Trump has declared a national emergency to prevent the spread of the coronavirus, and several states, including New York, New Jersey, and California, have ordered...Read More