Don’t Let Financial Problems Dominate Your Life
Chapter 7 bankruptcy is often described as a financial reset for individuals overwhelmed by debt. It is governed by federal bankruptcy laws and is designed to give qualified filers relief from unsecured obligations they can no longer manage. Before pursuing this...
Debt can build up slowly and then suddenly feel impossible to manage. When bills pile up, and collection pressure grows, it can affect sleep, work and family life. Chapter 7 bankruptcy is designed to give many people a fresh financial reset. It can help clear certain...
Owning a business in Pearland often feels like balancing on a tightrope. If debts have grown too large to keep operating, you may wonder if seeking a fresh start means the end of your professional life. Many people believe bankruptcy requires a person to close their...
Car loan defaults are reaching historic numbers. Reports looked at subprime borrowers who were at least 60 days behind on their payments and found that it applied to 6.65% of these borrowers. That is the highest number in decades, according to some rating systems,...
When overwhelming debt leads to considering Chapter 7 bankruptcy, questions about life afterward naturally follow. Housing security is often a top concern, particularly whether this "fresh start" prevents you from finding a new place to live. You are not banned from...
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...
For individuals facing overwhelming debt but wishing to keep their assets, Chapter 13 bankruptcy can provide a structured path toward financial recovery. Chapter 13 bankruptcy relies on your income to make monthly payments toward your debts over a period of three to...
Chapter 7 bankruptcy and Chapter 13 bankruptcy are a bit different. With Chapter 7, you have debt waived after you liquidate nonexempt assets and pay off as much of that debt as possible with the proceeds. With Chapter 13, you generally do not waive any of the debts,...
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....
Chapter 13 bankruptcy is not an instantaneous process. A filer must submit paperwork to the courts and negotiate a repayment plan. They then need to make between three and five years of structured payments. The repayment plan often requires the majority of the filer’s...