Start Fresh Today Bankruptcy Blog

5 Tips For Getting Your Family “Budget Ready” After Bankruptcy

Posted on Wed, May 20, 2015 @ 09:05 AM

Filing for bankruptcy was probably a big step for you and your family. Wiping out debts has given you the fresh financial start you need. But in order to take advantage of that opportunity you’ll need to get your family “budget ready” after bankruptcy. Here are a few tips:

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Tags: Budgeting

5 Reasons Bankruptcy Can Be Good For Your Credit Score

Posted on Fri, May 15, 2015 @ 12:05 PM

One of the most common reasons people avoid talking to a bankruptcy trustee is that they’re afraid of the impact that declaring bankruptcy will have on their credit report. For those in financial trouble, credit and access to credit becomes a lifeline. While they might be struggling to make their minimum payments, or balancing payments from one credit card to the next, in the back of their minds is the feeling that if they can’t get more credit, they won’t be able to stay afloat. 

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Tags: Bankruptcy and Credit

NACBA Chicago Had a Good Run, But Before You Say, “Until Next Year…”

Posted on Thu, Apr 30, 2015 @ 13:04 PM

By now you’re probably back in the office. You may still be playing catch up as you go through emails and return messages…easing back into your routine. But not so fast! After stepping outside of your everyday life and submerging yourself into a long weekend of education, networking, and hopefully some fun, you don’t want to just slip back into your same old routine without making what you learned actionable.

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Tags: Marketing Your Bankruptcy Practice, Bankruptcy Attorneys, NACBA Chicago

3 Things You Should Know About Pre-Filing Bankruptcy Counseling

Posted on Wed, Apr 29, 2015 @ 12:04 PM

All too often, people find themselves in the position of having too many debts and not enough money to pay them off. If you're in this position, you may think that there is no way out of your situation and that you'll never get out of debt. Every year, thousands of people, just like you, opt to file for bankruptcy, so that they can get out of debt and get a fresh start. Pre-filing bankruptcy counseling is required before you can begin the process, but there are 3 things you should know about this important part of the process.

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Tags: Pre-Filing Bankruptcy Counseling

Creating A Budget For Your Bankruptcy Practice

Posted on Mon, Apr 27, 2015 @ 12:04 PM

Smart budgeting is the lifeline of your bankruptcy practice. As the economy ebbs and flows, so will the number of people needing to file bankruptcy. To succeed in your practice, you must prepare for those changes by creating a budget that accounts for your current expenses but also the changes in business that you will inevitably face. Below are a few tips on how bankruptcy law firms can create a reasonable budget:   

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Tags: Bankruptcy firm best practices

How Filing Chapter 13 Bankruptcy Can Save Your Home From Foreclosure

Posted on Thu, Apr 23, 2015 @ 10:04 AM

Have you been threatened with foreclosure or have the proceedings already begun? If so, filing for chapter 13 bankruptcy will put an automatic stay into effect which will stop creditors from demanding payments from you. If you have no alternative and have decided on bankruptcy, then time is of the essence if foreclosure has already begun. This is especially true if you answer yes to the question below.

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Tags: Chapter 13 Bankruptcy

Maximizing Your NACBA Experience

Posted on Tue, Apr 21, 2015 @ 09:04 AM

It’s NACBA time again!

Once a year the industry’s best and brightest come together to tackle the discussions most important in the ever-changing bankruptcy landscape. New policies, processes, software and challenges are all front and center at the National Association of Consumer Bankruptcy Attorneys Annual Convention.

After years of attending the convention, I am excited to be speaking on the Brilliant Bankruptcy Marketing Panel held Thursday, April 23rd at 6:15pm with my two colleagues Tiffany Denlinger & Jabez Lebret! As I prepare for our session and full week of activities, here are a few tips to help you make the most of this fantastic event.

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Tags: NACBA Chicago, bankruptcy conference

Is Chapter 13 Bankruptcy Right For You?

Posted on Fri, Apr 17, 2015 @ 15:04 PM

The decision to file bankruptcy can be a very stressful one. You may be afraid of losing your house, car or other possessions. You may be overwhelmed with all the information you are receiving, the types of bankruptcies and the rules for each type. The good news is that with chapter 13 bankruptcy you have more options available to you.

There are two main types of bankruptcies that individuals can file, Chapter 7 and Chapter 13. The main differences between these two types is the ability to keep your possessions and whether you continue to pay off your debt. With Chapter 7 your debt gets wiped clean and you no longer have to pay your creditors, but it requires that you liquidate non-exempt possessions.

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Tags: Chapter 13 Bankruptcy

The March 2015 Bankruptcy Filing Numbers Are In

Posted on Thu, Apr 09, 2015 @ 17:04 PM

March 2015 bankruptcy filings support the continuously declining trend in consumer filings since 2010. According to Epiq Systems, March 2015 filings (81,622) declined by about 10.5% since March 2014 (91,283), although the number of filings did increase by 26% from February to March this year. 

In 2010, the foreclosure crisis peaked, and bankruptcy filings in March were at 159,382. Since 2010, filings have been declining steadily, and this March marks a near 50% decrease. Further data provided by Epiq Systems also offers the following statistics:

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Tags: Bankruptcy Filings 2015

Bankruptcy Filing Statistics Reveal Trends

Posted on Thu, Apr 02, 2015 @ 12:04 PM

Since the peak of foreclosures in 2010, the economy has slowly recovered. As a result, bankruptcy filings consistently dropped over the last four years. In February 2010, at the peak of the economic crisis, 117,988 bankruptcy filings were reported nationwide. In February, 2015, there were only 65,002 filings, a substantial 40% decrease from the peak total, and a 10% decrease from the February 2014 total of 72,267 (DS News).

According to the American Business Institute Executive Director Samuel J. Gerdano, filing totals continued to decline because "sustained low interest rates and high costs to file continue to suppress the number of consumers and businesses seeking the financial fresh start of bankruptcy." However, despite the consistent decrease over the years, bankruptcy filings increased from January to February in 2015. 

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Tags: Bankruptcy Filings 2015

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