Filing for bankruptcy in Connecticut might provide relief from a lot of financial problems you’ve been experiencing. However, bankruptcy does have some drawbacks that are important to be aware of. Bankruptcy, in some cases, may impact your ability to be hired or...
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Connecticut Bankruptcy Law Blog
Can you keep your car if you file for bankruptcy?
Many people in Connecticut who are struggling with overwhelming levels of debt hesitate to file for bankruptcy because they think that they will lose their cars and other assets if they file. However, people can choose between the state or federal bankruptcy...
What really happens when you file for bankruptcy
Although filing for bankruptcy should be seen as a last resort, it can be an effective way to help you get out of debt in a timely manner. In some cases, it may be possible to reorganize your debts without losing property such as a car or Connecticut home. Finally, it...
An overview of various bankruptcy options
If you need help obtaining debt relief, it may be a good idea to file for bankruptcy. Typically, individuals will file for either Chapter 7 or Chapter 13 protection. Understanding the difference between these debt relief options may make it easier to make a decision...
Can you discharge tax debt through bankruptcy?
Connecticut residents who owe back taxes may be able to have an outstanding balance discharged in bankruptcy. However, there are several conditions that must be met for this to be true. Let's take a closer look at what you should know if you're looking to eliminate...
How bankruptcy affects home ownership
Connecticut residents who file for bankruptcy often feel that it is one of the most overwhelming periods of their lives. Bankruptcy filers have often run out of ideas regarding how to handle both the present and future financial obligations they face. One major worry...
How can homeowners avoid foreclosure?
Although the dark days of the Great Recession are far behind us as a nation, America still sees an alarming rate of people losing their homes. One of the leading reasons is foreclosure, which happens when banks and other loan-granting organizations claim a property...
Interior designer collapses into Chapter 7 bankruptcy
The dream of starting or running a business is a big part of being in America. The nation, after all, has a history of being built on big risks that either paid off or did not. But if an enterprise becomes so logged with debt that it is time to sell off parts of it,...
Connecticut’s government considers its own debt diet
People aren't the only legal entities that can end up in debt. Companies and corporations, even those that have been in business more than a century, can fall on crippling hard times. In fact, governments of states and countries can also end up in debt that can cost...
Major sports retailer will close Connecticut stores in bankruptcy
Bankruptcy is designed to be the opposite of permanent for an individual or a business. Some types of bankruptcy filings allow people and entities to retain many of their remaining assets, while others force a liquidation of all but essential remaining property. When...