Benefits of Filing Bankruptcy Filing for bankruptcy is a path many consumers consider when facing significant financial pressure. In fact, in the past 12 years, 12.8 million Americans turned to it as the solution to their financial strain. Here are some answers to frequently asked questions about Bankruptcy: Is it wrong to file Bankruptcy? Absolutely not. Filing for Bankruptcy is taking a positive step to regain control of your financial situation, reorganize your personal finances and obtain a fresh financial start through a discharge. In Chapter 13 Bankruptcy you repay all or part of your debts. Whatever financial problems you may [...]
Happy National Puzzle Day They're great for de-stressing, excellent for staving off boredom, and the one thing Bill Gates always takes on holiday: jigsaw puzzles. In the past few decades, the humble puzzle has leaped from the toy box to become a hobby enjoyed by millions of adults worldwide. And it's not difficult to see why. Following in the footsteps of adult coloring books and board games' resurgence, doing puzzles is relaxing and has many benefits for your brain. Here are six reasons why doing puzzles is right for you: 1. Whole Brain Activity Unlike many activities, puzzles exercise [...]
Many individuals have reached out to us posing the question, "how do I file taxes after filing bankruptcy?". Below is the most up to date information from Turbo Tax in a post updated for the tax year 2020. Is there life after bankruptcy? Absolutely, and it includes taxes. Filing an income tax return after filing for bankruptcy does not have to be a problem, as long as you know what to watch out for, including when and how to file. “People that file bankruptcy have to make sure that there are a few things taken care of when it comes to [...]
We have the most up to date information for individuals to navigate this critical decision regarding the Coronavirus pandemic. According to Alex Gaily, a financial reporter; The novel coronavirus impacts all aspects of our daily lives, from social distancing to unemployment, as people worldwide try to figure out their “new normal” and their finances along with it. Amid financial uncertainty due to COVID-19, you may be considering filing for bankruptcy. From June 30, 2018, to June 30, 2019, there were nearly 500,000 Chapter 7 bankruptcy filings in America, significantly less following the Great Recession. From 2009-2012, there were over 1 million [...]
Many individuals during the pandemic have encountered many challenges and reduction in income has been a common occurrence. There have been many programs available to ease this burden, however, for some it may not be enough. Many individuals are opting to file for some form of bankruptcy and the stress of debit and the decsion take that step can be challenging. The stress leading up to bankruptcy can often be overwhelming and challenging to manage. Many people struggle with the emotional toll of being in a lot of debt. Luckily, you're not alone, and bankruptcy is a great way to get [...]
Many individuals and companies are finding themselves in difficult financial situations as a result of COVID-19. Some may ask themselves, "Is filing for bankruptcy an option for me or my business?" Here are some terms and laws to come familiar with regards to bankruptcy and how it works. According to The Legal Information Institute at Cornell Law School; Bankruptcy law provides for the reduction or elimination of certain debts. It can provide a timeline for the repayment of nondischargeable debts over time. It also permits individuals and organizations to repay secured debt--typically debt with real estate or personal property like vehicles [...]
Our team here at Kane and Papa are happy to announce a few things we have implemented to keep our clients and community informed. With the everchanging climate we live in we have implemented three social media channels and our blog page. These sites will keep our followers up to date on any changes that may directly affect our clients and community, with regards to our area of expertise. Please follow us on Social media. Facebook Instagram Twitter
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