Malissa

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Is America’s Middle Class Vanishing? Understanding the Impact of Debt

Exploring the Erosion of the Middle Class and the Role of Bankruptcy Is America’s middle class vanishing? A thought-provoking article on CNN Business describes the middle class as “eroding” due to overwhelming debt burdens. Lower-income families are facing significant financial challenges compared to their higher-income counterparts. If stagnant income levels are preventing you from living […]

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What Is a 341 Meeting of Creditors and How to Prepare for Your Bankruptcy Hearing

Everything You Need to Know About Your 341 Meeting What Is a 341 Meeting of Creditors? A 341 Meeting of Creditors is a required step in the bankruptcy process. It’s an official hearing where you, the debtor, answer questions under oath about your financial situation. The meeting is led by the Bankruptcy Trustee assigned to

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May 15, 2024 Median Income Levels for Kansas and Missouri Bankruptcy Filers (again)

UPDATES for Median Income Levels: Kansas and Missouri Bankruptcy Filers — The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify … Chapter 7 or Chapter 13 Most individual debtors filing for bankruptcy relief are required to complete a version of Bankruptcy Form 122. The Means Test is

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UPDATE TO 6/30/24 — Deadline April 30, 2024 : Student Loan Debt Recount Opportunity

UPDATE 5/15/24 The Biden-Harris Administration Announced it will Allow Borrowers More Time to Consolidate Loans to Get Credit for Progress Toward Loan Forgiveness Programs! This administrative fix ensures borrowers get proper credit for progress borrowers made toward income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF). The payment count adjustment is now anticipated to be

UPDATE TO 6/30/24 — Deadline April 30, 2024 : Student Loan Debt Recount Opportunity Read Post »

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Bankruptcy Filings : 2024

Bankruptcy Filings — The total number of filings … Is up … A total of 16% over last year. From the United States Courts: Bankruptcy filings rose 16 percent during the 12-month period ending March 31, 2024. That is a similar rate of acceleration as in the Dec. 31, 2023, quarterly report, but new bankruptcy

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What does pre-petition debt vs post-petition debt mean?

Understanding Pre-Petition vs. Post-Petition Debt in Bankruptcy What Is Pre-Petition Debt? Pre-petition debt is any debt you owe before your bankruptcy case is filed with the court. The filing date is crucial—it marks the point when your debts are divided into pre-petition and post-petition categories. Examples of pre-petition debt include: When you file for bankruptcy,

What does pre-petition debt vs post-petition debt mean? Read Post »

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