Posts by On Behalf of Giddens & Gatton Law, P.C.
Can marrying someone who has filed bankruptcy impact your finances?
When a relationship becomes serious, the couple often starts to carefully consider their finances. After all, a long-term commitment like marriage usually means two people will combine their finances. As you consider both your assets and debts, you may wonder: will your partner’s financial situation affect yours if they filed bankruptcy in the past? The…
Read MoreGet the basics of subchapter 5 bankruptcy
Opening your small business was the fulfillment of a dream. However, the last few years have not been easy for small businesses in New Mexico and across the country. For many, business fell low and debt piled high. When the Small Business Reorganization Act went into effect in 2020, it established subchapter 5 as a…
Read MoreAn eye on bankruptcy stats in 2022
As New Mexico residents prepare for the holidays and the start of a new year, it is common to reflect on the past year. This practice is widespread, with even the government and courts gathering data on the events of the year – especially in terms of finances. So, what is the latest information on…
Read MoreFree $20,000 to Avoid Foreclosure!
By Elizabeth Friedenstein, Associate Attorney, Giddens + Gatton Law, P.C. Are you facing foreclosure? New Mexico has up to $20,000 available in FREE money to help homeowners! The Homeowner Assistance Fund is a federal program to help homeowners impacted by COVID-19 catch up on mortgage and utility bills. The fund has been distributed to New…
Read MoreDispelling myths about bankruptcy and your credit
There are countless myths when it comes to bankruptcy. Many people believe myths such as only financially irresponsible people file bankruptcy, or that filing means they will lose everything. Some of the most common myths surround your credit. Here, we will discuss some of these. Myth: Bankruptcy permanently damages your credit Fact: It is true…
Read More5 debts that are not discharged in Chapter 7
Filing bankruptcy is an option that many people in New Mexico choose to help them manage their debts and gain a fresh financial start. This fresh start is often made possible with the discharge, where the court eliminates your debts. However, a Chapter 7 bankruptcy does not discharge all debts. Some debts – as well…
Read MoreHow common is bankruptcy?
Dealing with debt and financial issues can feel very isolating. You might feel like the only person struggling as you try to escape the pressures of debt. This isolation can make it seem like debt is not a common issue, or that bankruptcy is not a common solution. Is that true? What do the statistics…
Read MoreWill you lose your government benefits in bankruptcy?
The federal government has many programs available to assist citizens and their families if they face financial hardships. This financial assistance can make a big difference for families struggling to make ends meet. However, the United States Census Bureau reports that families who receive at least one kind of government aid held about the same…
Read MoreWhat happens to the family farm in bankruptcy?
Unfortunately, it is common for individuals in the agriculture industry to face financial challenges in today’s world. Family farms work hard to provide New Mexico residents with some of the most basic needs, yet they may be struggling to pay their bills and secure their own needs. There are options for family farmers to seek…
Read MoreIs there a right time to file bankruptcy?
Financial struggles can crop up quickly and often without warning. Thankfully, there are various options that you can pursue to find relief from debt and get a fresh start. However, many New Mexicans considering these options often wonder: when is it the right time to seek such debt relief? When should you file? It is…
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