Author Archives for sperling

The Means Test Explained 

August 20, 2019 8:40 am Published by Leave your thoughts

If you are considering filing for Chapter 7 bankruptcy then you may have heard of the Means Test. The test basically determines whether your income is low enough for you to file for Chapter 7 bankruptcy.  Since Chapter 7 bankruptcy is known for debt forgiveness and discharging the debt, passing this means test determines whether your debt can be wiped...


Cancer Survivors Face Financial Hardship 

August 6, 2019 8:21 am Published by Leave your thoughts

A cancer diagnosis means a lot of uncertainties. It may mean surviving surgeries, chemotherapy, and radiation. It may mean multiple hospital stays and expensive medication. Unfortunately, cancer can not only take a toll on the body but on a bank account as well.  According to the US Centers for Disease Control and Prevention’s (CDC) Morbidity and Mortality Weekly Report, about...


Divorce and Bankruptcy

July 10, 2019 8:53 am Published by Leave your thoughts

Are you facing a potential double whammy – divorce and bankruptcy? Many people cite divorce as a leading reason for bankruptcy filings, and others indicate that bankruptcy or financial issues are a leading reason for the divorce. So, as you can see, there are many instances where divorce and bankruptcy are not only interrelated but also intertwined. Let’s take a...


Changing Demographics of Bankruptcy Filers

July 1, 2019 8:00 am Published by Leave your thoughts

In the 12-year span from October 1, 2005, to September 30, 2017, about 12.8 million consumer bankruptcy petitions were filed in the federal courts, (U.S. Courts). That breaks down to almost a million consumers a year. If you were one of the millions who did find the need to file, did you feel alone or like it was the end...


The Red Flags Warning of Bankruptcy

June 19, 2019 8:57 am Published by Leave your thoughts

  Debt can sneak up on some people, slowly, month-after-month. Some individuals may not realize just how bad it is, until it is too late to take action and “turn the ship around,” so to speak. Here are several warning signs that you may be headed toward a financial situation that may end in bankruptcy.   Behind on Your Bills...


What Should I do Before Filing for Bankruptcy?

June 5, 2019 8:48 am Published by Leave your thoughts

Bankruptcy is neither the end of the world nor should it be taken lightly. Bankruptcy is something you should research, weigh heavily, and plan for in the weeks and possibly months before you finally decide to file. Unless your financial difficulties happen suddenly, there are a few things that every debtor should consider and do before signing the paperwork and...