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Personal Bankruptcy Archives

What is a bankruptcy discharge order and when does it occur?

A discharge in a consumer bankruptcy in Arkansas and all other federal bankruptcy districts comes after the trustee has conducted a meeting, thoroughly reviewed all matters, and concluded that all laws and procedures have been followed. The Court then orders a full discharge of the debtor's unsecured debts. This goes relatively quickly in a Chapter 7 bankruptcy, which is the most common form of consumer filing.

What's the difference between Chapter 7 and Chapter 13?

There have been plenty of jokes made about the many different types of "chapters" there are when it comes to bankruptcy. However, the variety in bankruptcy allows for people and businesses to maneuver out of the many different financial situations they can find themselves in. Two of the most common forms of personal bankruptcy are Chapter 7 and Chapter 13.

Student debt scamming becoming much more noticeable

It's an unfortunate aspect of life: there are people out there who prey on people who are in difficult life situations. Often these scam attempts revolve around money, and usually the targets are people who are significantly in debt. Mortgages, credit card debt, auto loans -- all of these things have caused many people to believe that a voice on the other end of the phone actually represents a legitimate business that is trying to help them get out of debt.

After many failed bankruptcy attempts, woman jailed for fraud

After filing for bankruptcy six times in a four-year span, a woman has been sentenced to federal prison for just over a year after she pleaded guilty to providing false statements in her bankruptcy attempts. Apparently all of her bankruptcy attempts were Chapter 13 filings, and all were dismissed as a result of missing information or documentation.

The problem with student debt, and the hope it will soon be fixed

One of the prevailing reasons that many people are in debt is student debt. The loans that people took out in college to pay for myriad things -- including skyrocketing tuition, absurdly expensive books, and numerous other school supplies -- end up biting them later on in life.

Here are some ways to rebuild your credit after bankruptcy

As we have written about, and as many people know, filing for bankruptcy is a major decision in a person's life. It will help you clear out many debts that are leading you towards financial despair. However, bankruptcy is also very hard on the person who files. It will take some time to rebuild your credit and to get back to the way things were.

Why debt management companies should be avoided at all costs

For those toiling in debt, the promise of being debt free after working with a debt management company can be very persuasive. After all, who wants to deal with unrelenting creditors on their own. Creditors don’t care about the everyday struggles you go through in making ends meet, or how you essentially have to rob Peter to pay Paul every month.

What role does Social Security play during debt collection?

When you accrue a lot of debt, debt collectors will do everything in their power -- and, sometimes, even things they aren't supposed to be in their power -- to get the money from you. They will call you and send you letters. They may even try contacting family members to learn of your whereabouts. All told, it can amount to a very stressful time for the person who is in debt.

The differences between Chapter 7 and Chapter 13 bankruptcy

Some Arkansas residents may not know that there are different types of bankruptcy that an individual can go through. The two most common, though, are Chapter 7 and Chapter 13. These bankruptcies allow the filer the chance to get out of debt, but the way in which that may be achieved depends on the bankruptcy.