-
What will happen if a company goes bankrupt?
Friday, October 18th, 2024Bankruptcy is a legal process that provides struggling businesses with a way to address overwhelming debt and financial challenges. When a company files for bankruptcy, it signifies that it cannot meet its financial obligations. The outcome depends on the type of bankruptcy filed, the company’s assets, and the interests of creditors. For individuals or businesses… Read more »
-
Can I file bankruptcy on my credit cards only?
Friday, October 11th, 2024Credit card debt can quickly spiral out of control, especially when you’re juggling multiple payments and high interest rates. Many individuals find themselves asking: “Can I file for bankruptcy on my credit cards only?” The short answer is yes—you can file for bankruptcy to address credit card debt, but bankruptcy applies to all your eligible… Read more »
-
Is it better to file bankruptcy or just stop paying your bills?
Friday, September 20th, 2024When financial obligations become overwhelming, many people find themselves asking whether it’s better to file for bankruptcy or simply stop paying their bills. While both choices carry significant consequences, understanding the key differences between these options is essential to making an informed decision. At its core, bankruptcy provides a legal pathway to manage or discharge… Read more »
-
How Do You Rebuild Credit After Bankruptcy?
Friday, July 26th, 2024Bankruptcy can seem like an insurmountable setback for your financial stability and credit score. However, with the right approach, regaining financial health is achievable. Declaring bankruptcy does not mean an end to financial opportunities; rather, it marks the start of a new phase where rebuilding is possible. At Ursulova Law Offices, P.C., we guide our… Read more »
-
How Are Assets Divided in Bankruptcy?
Friday, July 12th, 2024When financial turmoil strikes, individuals and entities may consider bankruptcy as a viable solution to relieve their debt burden. Bankruptcy is a legal process where people or other entities who cannot repay debts to creditors seek relief from some or all of their obligations. At the core of this process is the division of assets,… Read more »
-
What Not To Do After Filing for Bankruptcy
Friday, June 28th, 2024Filing for bankruptcy is often seen as a fresh start for those overwhelmed by debt, providing a pathway to reduce or eliminate certain financial burdens. However, the steps taken after initiating this process are crucial. At Ursulova Law Offices, P.C., we guide our clients through these critical times with precision and care. Here are some… Read more »
-
Discharge NTS Debt Through Bankruptcy
Friday, May 10th, 2024Non-Taxable Status (NTS) debt encompasses obligations that are not subject to income taxes. These often include various forms of unsecured debts like credit card bills, medical expenses, and personal loans. Understanding the nature of these debts is crucial for individuals considering bankruptcy as a solution to their financial woes. At Ursulova Law Offices, P.C., we… Read more »
-
What Are the Required Documents Needed for Bankruptcy?
Friday, April 26th, 2024When filing for bankruptcy, a comprehensive understanding of your financial situation is crucial. This is where thorough documentation comes into play. The specific requirements can vary based on the type of bankruptcy you are filing (Chapter 7, 13, etc.). However, there is a core set of documents generally needed. If you are considering bankruptcy in… Read more »
