Filing bankruptcy is an option that many people in New Mexico choose to help them manage their debts and gain a fresh financial start. This fresh start is often made possible with the discharge, where the court eliminates your debts. However, a Chapter 7 bankruptcy...
Chapter 7 Bankruptcy
Will I lose everything if I file bankruptcy?
What will happen to your property – and everything you have worked for – if you file bankruptcy? This is the most common worry that anyone facing significant debt has. This concern is often what makes individuals wary of seeking relief for that debt as well. It is...
How long could my Chapter 7 bankruptcy take?
Struggling with debt can be an overwhelming weight to carry. Whether it is credit card debt, medical debt, mortgage debt or a combination of many, New Mexico families want to find debt relief as soon as possible and return to what is important in life without worry....
Will my bankruptcy discharge be public record?
The thought of filing bankruptcy can leave individuals feeling trepidation. On top of the financial stress they face, it is a tough decision to move forward with bankruptcy considering the myths and stigma that surround this form of debt relief.One concern that many...
Military families’ main worry? Financial challenges.
Military service members and their families make many sacrifices to protect the values and people of the United States.Most service members do not expect one of those sacrifices to be financial security. And yet, many military families report that debt and financial...
Filing taxes in bankruptcy: What you must know
The tax season is drawing near. Even the thought of filing taxes can lead to a significant amount of stress – especially for households already struggling with considerable debt.If individuals are right in the middle of their bankruptcy filing to handle that...
What do you include in the Statement of Financial Affairs?
When individuals file Chapter 7 bankruptcy, they must complete a considerable amount of paperwork. There are several forms to fill out, so the bankruptcy court can obtain an accurate look into the individual’s finances before moving forward with the...
Report: One in three Americans worries about credit card debt
The 1950s brought the advent of credit cards to the United States, making the method of “buy now, pay later,” easier and much more common. Nowadays, the average American has two or more credit cards in their name.Using credit cards might be convenient and...
Predatory loans could pose a risk before bankruptcy
It is common for individuals to take out new loans to repay older debts. In some cases, this might help them keep their debt under control.Unfortunately, some of these loans might target people in financially vulnerable positions and increase the risk of debt in the...
Three signs that debt could be spiraling out of control
As we have mentioned in past blog posts, debt has almost become a normal part of life. After finishing school, getting a necessary surgery or even purchasing a home, it is common for people to have debt.Unfortunately, it is sometimes too easy for this debt to start...
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