Whenever you take a loan, whether it’s in the form of a mortgage, car loan, credit card, or otherwise, you become a debtor, and the loan provider becomes a creditor. The relationship between you and your creditors is generally a perfectly amiable, professional one if you’re able to meet your monthly payment requirements. If you
In the U.S., the majority of court cases are put on public record. This includes all bankruptcy filings which are often listed in local newspapers and are always available on the government-administered online database PACER (Public Access Court Electronic Records). The listings available on PACER are not easily accessed by any individual, but they are
If an individual or business seeks debt relief in the form of bankruptcy, creditors, employees, tenants, and others around them are affected. If a landlord files for bankruptcy, for example, their tenants will be involved in the filing process to a certain extent. If you are a landlord struggling with debt, Behm Law Group, Ltd.
Anyone with a mortgage or other large loan either has an escrow account or knows about the function of one. Escrow accounts are set up with a third-party agent or broker who manages and distributes the money in that account. The account works as a consolidation system for a mortgagor, holding values required to make
If you are facing financial difficulties, you are not alone. Individuals in all types of circumstances can find themselves deep in debt because of numerous factors. In fact, the chance of severe debt is not an impossibility for anyone, and you should not feel shame for having financial troubles or for considering bankruptcy as an
Starting in December of 2018 and ending more than a month later, the recent government shutdown was the longest in U.S. history and impacted more government employees across the country than any other shutdown before. The ripple effects of the shutdown grew by the day and had severe effects on many employees’ finances. The lack
Across the Midwest, family-owned farms are still struggling to make ends meet after a difficult start to the growing season. Farmers and fishers in the region are facing large debts without an income to match the required monthly payments. Because of these financial difficulties, more and more families are filing for bankruptcy or seeking other
If you are unable to meet your monthly debt payments and don’t know how to get yourself out of your current financial situation, bankruptcy might be a valuable option for government-addressed debt relief. Filing for bankruptcy is a process that’s frequently given a negative image, primarily because of the impact it has on your credit
The economy we live in allows for rapid financial shifts for individuals and businesses alike. While these changes can be positive, there is often a greater chance that you or your business will face negative outcomes as a result. For those who own and operate a retail business in the U.S., the reality of how
Chapter 13 bankruptcy is a format of debt reorganization most common for individuals and some types of businesses. Overseen and administered by a standing bankruptcy trustee, a Chapter 13 case takes secured, unsecured, and priority debts and alters them into a consolidated repayment plan that lasts three to five years depending on the debt amount
