Chapter 7 bankruptcy is a very useful tool for those with overwhelming debt. Provided that people can qualify to file based on their income, bankruptcy can help them discharge their eligible unsecured debts. The day that they file, they can also temporarily halt...
People sometimes believe that bankruptcy stems from intentional actions. And it can. Someone who intentionally overspends on a credit card may find themselves facing overwhelming debt. Someone who takes out a loan that they know they can’t afford may later have to...
Are you considering filing for Chapter 13 bankruptcy within the next few months to start the new year off on a more solid financial footing? That’s a good New Year’s resolution. However, you may have some concerns and questions about what this will do to your holiday...
Some people call a Chapter 7 bankruptcy a liquidation bankruptcy. The implication is that the courts could force someone to sell off or liquidate their most valuable property to repay their creditors before they receive a discharge of their unsecured debts. Most...
Filing for bankruptcy is a difficult financial decision, but it may be the only option for those struggling with overwhelming debts. And while many people know how bankruptcy may impact their credit, not all are aware of how it affects your income tax. Do you need to...
If you’ve been living with insurmountable debt, you may have developed all sorts of coping mechanisms without realizing it. You may be looking at only the minimum amount due on your credit cards and ignoring the ever-growing balance. You may throw away or delete...
When it comes to financial management, few concepts are as pivotal as bankruptcy. Chapter 13 bankruptcy is a unique and impactful solution within this realm, often called the wage earner’s plan. Below is a highlight on Chapter 13 bankruptcy, its intricacies,...
Individuals with significant personal debt and average or below-average income given their household size may qualify for Chapter 7 bankruptcy. A Chapter 7 filing is one of the fastest and most effective forms of debt relief available. The same day that someone...
Far too many people in the United States are drowning in debt, and a lot of that is due to student loans with outrageous interest rates. In some cases, people have paid back as much or more than they initially borrowed, without putting a dent in the principal. Prior...
Bankruptcy can be an effective tool if you are overwhelmed by debt. However, you have to qualify. In other words, your petition for bankruptcy could be refused if you do not meet certain criteria. If you cannot discharge your debt via personal bankruptcy, you need to...
