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Posted on in Bankruptcy Advice

The timing of your bankruptcy case is important, sometimes extremely important. It can determine if your case is as successful as it can be.

Five weeks ago we started a series on why you should get legal advice from a bankruptcy lawyer. We’ve also been making a point of showing why it’s smart to do so early, when you start considering bankruptcy.

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Businesses considering bankruptcy get intense legal advice before filing. You would also be smart to get solid advice to make a good decision.


What Businesses Do Before Filing Bankruptcy

The following are just a few of the companies which have filed business bankruptcy in the last couple months:

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This 4th of July follow the Declaration of Independence and claim your right to "Life, Liberty and the pursuit of Happiness."


Your Life in Mid-2017

If you’re reading this on the Fourth of July weekend there’s a good chance you have some serious financial problems. Your debts may be overwhelming you. You’re worrying about them all the time.

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medical care and bankruptcy, San Antonio bankruptcy lawyerHistorically, filing for bankruptcy was typically not considered an option for many people who found themselves struggling with mounting and uncontrollable debt. The stigma attached to bankruptcy was one of shame and failure. However, over the past decade or so, that stigma began to fade as many people realized that bankruptcy was often the only solution to the financial crisis they found themselves in.

In 2012, over 1.2 million people in this country filed for bankruptcy. Prior studies have shown that the leading causes of bankruptcy are medical expenses, unemployment, unexpected life events, and credit card debt.

But just how much of role do medical expenses play in causing people to have to file for bankruptcy? Is it actually one of the leading reasons as we have been led to believe? Many analysts and studies point to the high price of medical care–not only for people who have no medical insurance–but also for people who do have medical coverage as the number one leading cause. It has been cited as the cause of sixty percent of bankruptcy filings each year. However, this statistic was actually garnered from a 2007 Harvard University study. A recent study reached different a conclusion.

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student loan debt, San Antonio bankruptcy lawyer, San Antonio bankruptcy attorney, Texas lawyerGoing through the process of grieving a child is devastating for any parent. However it can be even more challenging to move on when private student loan debt follows that individual after the child has passed away.

While most federal student loan debt is wiped out when a person passes away, private lenders may try to go after family members. If you are trying to cope with this situation, you may have a way out: bankruptcy.

Just ask Francisco Reynoso of California. His son died in a car accident in 2008, but Reynoso was on the line for six figures of student loan debt for which he had cosigned. With an income of just $21,000 per year, Reynoso was trying to grieve the loss of his child while avoid collection calls and demands from private lenders.

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