February 2015 Archives

How does my marital status affect my bankruptcy filing?

Despite the term "individual bankruptcy," a person's bankruptcy filing can impact the whole family. For Mississippi families seeking relief from overwhelming debt, a personal bankruptcy can allow for a new financial beginning that can benefit spouses as well as children. Still, while bankruptcy offers many benefits to one's family, there are often plenty of questions that must be answered before filing. One question is how a filer's marital status or situation will affect their bankruptcy case.

25 percent of Americans consider bankruptcy

As tax-filing season nears, many Mississippians are probably taking a closer look at their financial situation. What they may not realize is that a large percent of Americans consider filing for Chapter 7 bankruptcy to get debt relief because of their financial challenges.

Grounds for the denial of discharge of Chapter 7 debts

There are many reasons why a Mississippi resident may consider Chapter 7 bankruptcy. The individual may be struggling with debt that cannot feasibly be repaid in a timely manner; the debtor may also be seeking a way to stop creditor harassment and wage garnishment. Another reason why Chapter 7 bankruptcy is very compelling for individuals is the ability to get many debts discharged. For a person struggling with massive debt, this aspect of Chapter 7 is crucial.

Personal bankruptcy: Mississippi has highest foreclosure rate

More than a month after the New Year has arrived, many Mississippi residents are likely to be reassessing their New Year's resolutions. If one's goal was to become more financially secure, that goal -- like others, such as losing weight -- may have proven harder to achieve than originally thought. In fact, many state residents may be in need of significant debt relief, according to a new report.

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