Category Archives:Bankruptcy

Everyone agrees that bankruptcy is scary. Yet, when the bills start to become too much to handle, it is very often a necessary activity. One often has a helpless feeling as they are flooded with collection calls and letters. Regardless, for many, bankruptcy does provide a solution. Nevertheless, despite the benefits, there are some drawbacks. Today’s article provides some fast but important bankruptcy facts you need to know.

Are you receiving creditor or debt collector calls after a bankruptcy? It doesn’t often happen, but it does happen. Nevertheless, when there is a discharge of debts after a bankruptcy, you are no longer responsible for paying the debt. So, the protection from collection calls and letters, granted when you first filed, becomes permanent.

Recently, a past client came to our offices asking, “How often can I file for bankruptcy?” Some may find this surprising. We may not see it on Wall Street, but the U.S. economy has struggled for a long time. So, it is not uncommon for a person to go through cycles of doing well, only to have their rug pulled from under them. While at one time multiple bankruptcies in a lifetime were unheard of, today it is not surprising. Nevertheless, the law does place some limits on filing multiple bankruptcies.