Don’t Let Financial Problems Dominate Your Life
Many people call a Chapter 7 bankruptcy a liquidation bankruptcy. This name comes from the potential requirement to use accumulated resources to repay creditors before a discharge is possible. Frequently, filers have to sell or liquidate certain resources to repay...
Chapter 7 bankruptcy can be a lifeline for individuals ready to start over financially. Still, a few missteps before you file can delay your case, block your discharge or even lead to legal trouble. Steer clear of these mistakes to keep your fresh start within reach....
Many people struggling financially may be eligible for a Chapter 7 bankruptcy. If they can pass a means test, they could potentially complete the Chapter 7 bankruptcy process in as little as a few months. Chapter 7 bankruptcy is also known as liquidation bankruptcy....
Misinformation about bankruptcy prevents some people from filing despite their overwhelming financial challenges. Many people believe that bankruptcy could haunt them for life. The reality is that the law limits how long the credit bureaus report a previous...
Before you can file your Chapter 7 bankruptcy petition, you must first qualify for filing under that chapter. Think of the means test as the dividing line between those whose indigence prevents them from meeting their financial obligations and those who simply don’t...
Chapter 7 bankruptcy can offer individuals and married couples who are struggling with overwhelming debt a chance to eliminate most of their unsecured debts and to benefit from a fresh financial start. However, not everyone qualifies for Chapter 7, so if you need a...
Bankruptcy is a legal procedure that provides debtors a new beginning and alleviation from creditors. The stigma surrounding bankruptcy has promoted stereotypes of irresponsibility; however, numerous Americans encounter bankruptcy due to unforeseen crises, such as...
Individuals and families facing financial hardship sometimes make the difficult decision to file for bankruptcy. Those with above-average income or particularly valuable assets may pursue a Chapter 13 bankruptcy. Chapter 13 proceedings require a multi-year repayment...
Realizing that you need to file for bankruptcy to get control of your finances can be an intimidating process. One of the first things you’ll have to determine is what type of bankruptcy you’ll file. Chapter 7 bankruptcy, which, is known as a liquidation bankruptcy,...
If you want to get your financial slate wiped clean, filing for Chapter 7 bankruptcy is one way to do so. However, this option will not be available to all filers. Specifically, those with higher incomes generally do not qualify for filing for bankruptcy under Chapter...