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Should You File Bankruptcy After Retirement?

Navigating Financial Challenges in Retirement Ideally, by the time you reach retirement age, you’ll have enough assets to sustain a comfortable standard of living. Unfortunately, many retirees face financial struggles due to poor insurance coverage, rising medical expenses, and inadequate living adjustments in Social Security, pensions, and retirement accounts. Assessing Financial Health: It’s crucial for […]

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Death & Debt : Who is Responsible?

Understanding Debt Responsibility After Death There was a recent news article about a Seattle man who, after a long struggle with illness, received a medical bill totaling $1.1 million. While he is negotiating with his insurance company, the situation raises an important question: What happens when someone has overwhelming debt (medical or otherwise) and they

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Understanding Debt Settlement: Pros and Cons

Consumers must do their research before signing up with a debt settlement company.

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Understanding Bankruptcy: A Path to Financial Relief

Debunking the Myths: Is Bankruptcy Bad? Bankruptcy is not inherently bad or good. It is an important protection for honest consumers who find themselves in big trouble with debt. While a small minority of filers may try to abuse the bankruptcy process to hide assets and cheat creditors, the majority use it as a necessary

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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 cases remain significantly lower than before the start of the coronavirus (COVID-19) pandemic. According to statistics released by the Administrative Office of the U.S. Courts, total filings rose to 467,774 new cases, compared with 403,273 cases reported during the year ending March 31, 2023. Business filings increased 40.4 percent, from 14,467 in March 2023 to 20,316 in the newest report. Non-business filings rose 15.1 percent, from 388,806 in March 2023 to 447,458 in March 2024. This year’s 12-month filing total for the quarter ending March 31 is nearly three-fifths of the total reported in March 2020, when the pandemic disrupted the U.S. economy. That year’s 12-month total was 764,282.

How Soon Can You File Bankruptcy After Your Consultation?

How Quickly Can You File Bankruptcy After Your Consultation? If you’ve had an initial consultation with Walden Legal Solutions and are ready to move forward, the timeline for filing bankruptcy depends on a few steps that need to be completed first. Here’s what you need to know: Steps Before Filing How Quickly Can You File?

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Understanding Mechanic’s Liens and Bankruptcy: What You Need to Know

How Mechanic’s Liens Are Handled in Bankruptcy A mechanic’s lien is a legal claim against property, such as a home or vehicle, used as collateral to secure payment for work performed or materials provided. If you’re considering bankruptcy and have a mechanic’s lien, it’s important to understand how these liens are treated in Chapter 7

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Why Am I Getting A 1099 After Filing For Bankruptcy?

Understanding 1099-A and 1099-C Forms Post-Bankruptcy If you’ve filed for Chapter 7 or Chapter 13 bankruptcy and received a 1099 form afterward, you may be confused or worried about the tax implications. Receiving a 1099-A or 1099-C after bankruptcy is common, and understanding why you received it can help you take the proper steps to

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Can I Discharge My Traffic Tickets in Chapter 7 Bankruptcy in Kansas?

Will Chapter 7 Bankruptcy Clear Your Traffic Ticket Debt? If you’re drowning in debt, including unpaid traffic tickets, you may be wondering if filing for Chapter 7 bankruptcy in Kansas can help. The simple answer is no, you cannot discharge traffic ticket debt in Chapter 7 bankruptcy. However, don’t lose hope just yet—there are other

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Will I Receive the Kansas Child Support Arrears Owed to Me If My Ex-Spouse Files for Bankruptcy?

What Happens to Child Support Arrears in Bankruptcy? If your ex-spouse has filed for bankruptcy and owes you child support arrears, you may be wondering whether you’ll still receive the payments owed to you. The good news is that child support arrears are considered a priority debt and are not dischargeable in bankruptcy. Here’s what

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Are my tax refunds safe in a Kansas or Missouri bankruptcy?

What Happens to Your Tax Refunds When Filing Bankruptcy in Kansas or Missouri? Tax season is here, and many families are eagerly awaiting their refunds from the IRS, Kansas, or Missouri. If you’re considering bankruptcy, you may wonder whether your tax refunds are safe or if they’ll be turned over to creditors. The answer depends

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