Filing for bankruptcy under the provisions of Chapter 7 of the bankruptcy code can help those in a desperate financial situation get out from under their debt burden and make a fresh start in life. Not everyone who wants to file under chapter 7, the most common type of bankruptcy, will meet the eligibility requirements. Nor is all debt eligible for discharge under current bankruptcy laws. The following article looks at this topic in more detail.
21 February 2019
It's a hard decision to make when you are facing a potential bankruptcy. Whether you have lost your job and haven't been able to keep up with bills, or you are going through a terrible divorce and don't have many options, filing for bankruptcy has both benefits and drawbacks. Not all of your debt can be written off in a bankruptcy. If you owe back taxes, student loan debt or child support, you won't be able to erase this debt.
2 January 2019
Sometimes in life, financial conditions cause you to accumulate debts that you can't pay off on your own. You can file for bankruptcy relief from your present financial troubles. Bankruptcy allows you to legally either cancel out all of your current debts or find a way to manage a payment plan. Many people choose to use bankruptcy to cancel out their debts in court. Start the process of bankruptcy by hiring an experienced bankruptcy attorney to guide you through the process.
21 November 2018
Did you lose your job and you just haven't been able to find a new one? Perhaps you used all of your savings to start a new business, but that experience turned out to be nothing but a disappointment. Whatever the case may be, it might be that you have gone through all of your savings, and now it's even probably impossible for you to pay your bills. With Christmas coming so soon, you might have even come to the realization that this will be a lean Christmas all around.
19 September 2018
If you are unable to pay your bills, there are a number of consequences to be aware of. Creditors can make your life miserable with debt collection letters and calls, you can lose your property to foreclosure or repossession, you might be sued, and much more. One of the most hard-hitting of those consequences is wage garnishment. Read on to learn how this technique works and what you can do to put an "
8 August 2018
A lot of people that file for Chapter 7 bankruptcy end up in this position due to credit card debts. Having credit cards is a good idea if you use them responsibly; however, credit cards can be dangerous for many people. Using a credit card is just so easy to do, and that is often why people end up owing more debt than they can repay. If you can relate to this and want to file Chapter 7, you should evaluate the situation to see if this is right for you.
21 May 2018
If you find that you are struggling to make your debt payments each month, you may wonder what options can help alleviate the financial strain of your payments. One solution is to file for chapter 13 bankruptcy. A chapter 13 bankruptcy is basically a type of debt consolidation plan that requires you to repay a portion of your debts over three to five years. Once you complete the payment plan, much of your remaining debt is dismissed.
19 March 2018
