Chapter 7

Debt can soon spiral out of control. Luckily, there is help available. Or so the TV adverts would have you believe. Debt relief can work. Yet, often all it does is leave you with even more debt and even less chance of paying. If you have debt you cannot afford to pay,...

If you're having difficulty envisioning paying off bills that you have, then you may have decided that bankruptcy is your best option. Many debtors who wish to want to eliminate their debt obligations pursue Chapter 7 bankruptcy because they want to stop collection...

Those who use Chapter 7 bankruptcy are given the chance to liquidate non-exempt assets, pay off creditors with the money and then have the rest of the debt erased. The exact amount that is paid off and erased is different in every case, depending on the level of debt,...

Many people associate losing a job with bankruptcy. It’s easy to see, after all, how fast debt can get out of control if you no longer have a job.  The solution, most people may assume, is to search for another job and regain their stable income, thus avoiding the...

For someone who is struggling with heavy debt, consolidating may be a good idea. Having multiple credit cards, for example, means that the person is making several payments a month and having to pay interest on each card individually. This could mean hundreds more in...

Declaring bankruptcy can be a powerful method in overcoming demanding financial challenges. Medical debts, credit card debts, and unpaid utility bills are just a few of the types of debt that bankruptcy can help applicants take control over. Despite the benefits of...

There are both federal and state exemptions for Chapter 7 bankruptcy. Texas is one of the states that allows someone seeking bankruptcy to choose which category of exemptions they want to use. The federal homestead exemption last adjusted in 2019 allows you to protect...

When people need to file for bankruptcy, they often focus on how it will help their financial situation. They might not realize that filing for bankruptcy can also have a positive effect on their mental health. Knowing these before you file can help you to cope with...

People who file for bankruptcy are often tired of creditors harassing them for payments. Knowing that they don’t have the money to pay what’s due can put a great stress on the debtor. Bankruptcy provides those individuals with a way to reclaim control of their...

If you are struggling in debt, one thing you may have seen is that you could find some debt relief with settlement offers. These allow you to offer a portion of the debt you owe to your creditors. A creditor can decide if they will take that offer to close your debt....