The homestead exemption is intended to safeguard a person’s primary residence from creditors after they declare bankruptcy or upon the death of a homeowner’s spouse. It can also reduce property taxes by lowering your state property tax obligations. A homestead is a dwelling that a person uses as their primary residence, whether it is a […]
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Between June 30, 2023, and September 30, 2024, the United States experienced a significant increase in bankruptcy filings. For the 12-month period ending June 30, 2024, there were 486,613 bankruptcy cases filed, marking a 16.2% rise from the 418,724 cases filed in the previous year. This upward trend continued, with 504,112 filings recorded for the […]
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Chapter 13 bankruptcy is designed for people that don’t qualify for Chapter 7, maybe your income is too high, or you have assets worth too much money. It’s also designed to allow you 5 years to catch up on your mortgage arrears (the amount you are behind on your mortgage payments). With a Chapter 13, […]
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