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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

February 8, 2017 by Moellring & Ambler

Divorce & Bankruptcy

When to file the bankruptcy The stress of dealing with overdue bills and creditors calling can put a strain on any marriage.  Frequently, divorce causes debt, or financial difficulties are a big factor in leading to divorce.  If you are considering a divorce and have substantial joint debt, you should file bankruptcy before a divorce is final.  By doing this, the debt component is greatly simplified in the divorce proceeding - if not eliminated completely.  This not only takes away the worry … [Read more...]

Filed Under: Bankruptcy Tagged With: bankruptcy, divorce, joint debt, spousal debt

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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?

Moellring & Ambler - Quincy & Hannibal Lawyers

 

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