November 2014 Archives

Impact of the nearly decade-old BAPCPA on Chapter 7

Next year, the Bankruptcy Abuse Prevention and Consumer Protection Act will turn ten years old. Over the past decade, the reforms brought forth by the act have changed the way many individuals, both nationwide and in Mississippi, file for Chapter 7 bankruptcy. Those intrigued by the benefits of Chapter 7, such as the elimination of certain debts, may wish to know more about the reform's key effect regarding eligibility.

Seniors face increasing need for debt relief

It's often thought that bankruptcy is an appropriate option for Mississippi families struggling with overwhelming debts. While this is indeed frequently the case, there are many more types of people who can benefit from the debt relief provided via personal bankruptcy. One such group is senior citizens. According to recently-released information from the Consumer Financial Protection Bureau, older Americans are increasingly troubled by both debt and debt collectors.

Key qualifications for Chapter 13 bankruptcy

Filing for bankruptcy is one of the most important decisions that some individuals may ever make. When an individual or business is in dire need of debt relief, bankruptcy can almost immediately alleviate the burden. For individuals who decide bankruptcy is right for them, deciding whether to file for Chapter 7 or Chapter 13 can be crucial.

An attorney's advice often critical regarding credit card debt

Some Mississippi residents may believe that an attorney is only needed for certain financial challenges involving overwhelming debt, such as the threat of losing one's home, car or other forms of personal property. A bankruptcy attorney, however, can also help with seemingly "smaller" debt situations, such as credit card debt that has spiraled out of control.

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