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May 12, 2021 by Moellring & Ambler

Can I avoid bankruptcy by being better at budgeting?

As with most issues, the answer to this question is it depends. Income is a huge factor in budgeting. Before your free bankruptcy consultation, attorney Marcia Moellring requests clients fill out a budget worksheet. This allows her to analyze a person’s specific situation and determine if bankruptcy is an appropriate option. Some people can be helped by prioritizing their income distribution or finding ways to cut back expenses. If a creditor action is severe, a chapter 13 repayment bankruptcy … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy, bankruptcy budgeting, bankruptcy lawyer, budget, Marcia Moellring

March 3, 2020 by Moellring & Ambler

Bankruptcy & Tax Refunds

Bankruptcy & Tax Refunds Each year, many people receive substantial tax refunds.  If they are facing a lot of debt, they must decide whether using the tax refund to pay creditors will help them out of debt.  If a debtor has one major creditor and can negotiate a payoff with the tax refund, this may be a good option.  However, when a debtor has multiple creditors and paying one will not ease the debt burden, bankruptcy may be a better option. Some important factors when considering … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy, bankruptcy & tax refunds, Bankruptcy Attorney, bankruptcy lawyer, Hannibal Bankruptcy Attorney, Quincy Bankruptcy Attorney

April 18, 2018 by Moellring & Ambler

How did these medical bills get out of control?

Sometimes it's a catastrophic illness like cancer or a heart attack.  Other times it's just high deductible insurance premiums or co-pays.  Quite often, it is the combination of illness and missed work due to illness that prompts a medical bill problem.  Whatever the cause, medical bills are one of the leading reasons why people file bankruptcy. Medical bills are unsecured debts – this means that there is no collateral for the debt.  If you are unable to pay what the hospitals or doctors want … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy, bankruptcy lawyer, illinois bankruptcy, medical, medical bankruptcy, medical bills, missouri bankruptcy

January 30, 2018 by Moellring & Ambler

I’ve been sued on a debt, now what?

Many people struggle financially for months or years before deciding to explore their options in bankruptcy.  The last straw often comes in the form of a sheriff or process server showing up at the door with a summons.  When this happens, it can be overwhelming. Faced with a lawsuit, bankruptcy may be your best option.  When you consult with our office, we will let you know the pros and cons of bankruptcy. Pros: Bankruptcy offers relief Bankruptcies are filed in the United States … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy, debt, lawsuit, pros and cons of bankruptcy, served, summons

October 10, 2017 by Moellring & Ambler

Will I Lose My Assets By Filing Bankruptcy?

Many people are overwhelmed by their debt but afraid to consider bankruptcy because they might lose their car or house.  When a person files for bankruptcy, she must list all her assets.  However, many times there is protection for the asset called an exemption, or there is very little equity in the asset.  Equity is the difference between what is owed on the lien against an asset and the value of the asset. For example, a debtor might own a 2010 Kia Sorento worth $10,000.00.  If he owes … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy attorney Quincy, Hannibal bankruptcy lawyer, keep my car, keep my house, lose my home

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Recent Blog Articles

  • Can I avoid bankruptcy by being better at budgeting?
  • A word about our office
  • Bankruptcy & Tax Refunds
  • How did these medical bills get out of control?
  • I’ve been sued on a debt, now what?

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