Blakinger Thomas

12/02/2022

Unlike credit card, medical and other consumer debts, student loan borrowers must show that paying off the debt would cause them “undue hardship” to have it discharged in bankruptcy. Removing that legal requirement would require an act of Congress. But new federal guidance is meant to simplify the process of showing undue hardship and make it easier for the government to recommend to the court that the debt be discharged.

The Department of Justice released new guidance Thursday that aims to make it easier to have federal student loan debt discharged in bankruptcy -- a particularly difficult legal process under the previous policy.

10/17/2022

Recovery from bankruptcy is a step-by-step and often gradual process, and is best achieved by personally committing to good, healthy, financial practices.

A bankruptcy isn’t the end of the world. Here’s how to recover from one.

10/15/2022

It’s still possible to get a credit card after bankruptcy, but you’ll only be eligible for secured cards or cards designed for those with poor or no credit. Your best bet is to apply for a card as soon as you can after your bankruptcy is discharged, or completed, so you can start rebuilding your credit right away.

Bankruptcies are often considered a “worst-case scenario,” as they can have long-lasting effects on your finances and credit. But it’s not the end of the world. Anyone can rebuild credit after suffering bankruptcy by applying for a credit card designed for people with poor or bad credit. With ...

10/15/2022

LLCs are in the unique position of being able to choose if they will be taxed as a corporation or as a pass-through entity.

Many entrepreneurs opt to structure their small business as a limited liability company, or LLC. An LLC protects owners’ personal assets from lawsuits and some creditors. It also provides an easy-to-use business structure. In addition to these benefits, LLCs also offer numerous tax benefits. In th...

10/10/2022

Although bankruptcy filings can stay on your credit report for up to a decade, the effect on your credit score diminishes over time until it drops off your report completely.

Here's how long bankruptcy stays on your credit report and what you can do to rebuild credit afterward.

10/08/2022

In most bankruptcy cases, an injunction called an automatic stay goes into effect when a bankruptcy is filed. This injunction stops most collection activity including calls and letters. It also stops most lawsuits and garnishments. https://bit.ly/3RIbVR5

What to do if you are facing a garnishment of your wages or bank account.

10/08/2022

Many people start their businesses as side gigs and then make things more official once they’ve gained some traction. When you’re ready to formally register your business, you’ll first need to decide on a business structure

Starting your own business is no easy feat, but you can boil the process down to a few key steps.

10/01/2022

Every business and individual faces specific liabilities based on the nature of the business or operation conducted. A website requires proactive strategies to effectively manage the risk inherent in its operation.

You might feel like a website’s terms of use agreement will be the least visited and most boring page on your website. However, these pages can be a crucial means of minimizing liability and protecting your site, business and content in the event of legal issues. Our guide covers what a terms of a...

08/29/2022

A bankruptcy will impact your credit score until it is removed from your credit reports. However, as time passes, its impact on your credit score will lessen. And there are steps you can take to get a head start on repairing your credit score after bankruptcy.

When you file for Chapter 7 or Chapter 13 bankruptcy—two of the most common individual bankruptcies—it can remain on your credit reports for up to ten years. After a bankruptcy is listed on your reports, it causes serious damage to your credit score until it’s removed. This means you will like...

08/26/2022

An automatic stay gives people in a bankruptcy a lot of relief from debt problems, right at the time they most need it.

If you're researching the term automatic stay, you are probably thinking about declaring bankruptcy. But on a positive note, an automatic stay gives people in a bankruptcy a lot of relief from debt problems, right at the time they most need it.

08/24/2022

Proprietary information is one of the most vital assets of a business, and an effective way to protect it is to have key employees sign non-disclosure agreements. A well-drafted NDA can cover your intellectual property, customer contacts, licenses, contracts and other confidential data. An experienced business attorney can ensure that your NDA is compliant with state law and enforceable.

08/22/2022

Medical bills are generally classified as nonpriority unsecured debts, and they’re a type of debt most likely to be discharged, or wiped clean, in a bankruptcy.

Saying that health care for Americans costs a lot of dollars is like saying it’s a lot of miles to the nearest star. Both are measured in trillions. U.S. health care spending reached $4.1 trillion in 2020, according to the most recent data from the Centers for Medicare & Medicaid Services. At th