At some point in life, many Connecticut residents will experience unmanageable debt. Some will end up filing for bankruptcy; others may not due to the following bankruptcy myths. Why file for bankruptcy? There are different reasons to file for bankruptcy. Often, a...
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Year: 2023
How bankruptcy might impact your credit score
Submitting a bankruptcy petition to a Connecticut judge may enable you to eliminate some or all of your outstanding debts. It may also enable you to put a stop to wage garnishments or other creditor collection efforts. However, seeking protection from creditors may...
When does filing for bankruptcy make sense?
No one wants to be in a position where they need to file for bankruptcy. However, citizens of Connecticut should know that there are some benefits to it. The main goal is to get a chance to reorganize your finances and get back on your feet. As you do so, you can also...
Connecticut retirement plans and bankruptcy
Filing for bankruptcy may be an effective way of eliminating or reducing your current debt load. In some cases, you'll be able to keep property such as a Connecticut home or car. In addition, there is a good chance that you'll retain your 401(k), IRA or other...
What to know about business bankruptcy
If your Connecticut business is experiencing financial difficulties, bankruptcy may be an effective tool to help it overcome them. Alternatively, it may provide a path to dissolving the company in a timely and relatively amicable manner. The type of proceeding that...
Bankruptcy and credit scores
Excessive debt might leave people worrying about their finances, so they look to bankruptcy courts for protection. However, some Connecticut residents might worry about bankruptcy proceedings’ effect on their credit scores. A credit report will reveal whether someone...
