Chapter 7 bankruptcy is a fast and low-cost solution for those with more debt than they can manage on their current income. Also known as liquidation bankruptcy, a Chapter 7 filing may require that you sell off property that you cannot exempt. After using any sale...
Chapter 7
Signs you should consider filing for Chapter 7 bankruptcy
Despite our best efforts, financial hardship can strike at a moment's notice. No matter how much savings we have, a sudden medical emergency, job loss, divorce or another emergency can leave you with nothing in the back and bills that are waiting to be paid. If...
Is your home equity at risk in a Chapter 7 bankruptcy?
When you fall behind in one area financially, it can have a ripple effect on many other parts of your life. For example, a hospital with a big unpaid medical debt could file a claim for a lien against your home. A credit card company could garnish your wages, leaving...
How a Chapter 7 bankruptcy helps when a creditor sues you
When you fall behind on an account, the creditor or lender will likely start calling you, probably more often than you would like. They may send you strongly-worded letters and advise that they will take legal action. It's easy to ignore those letters until a process...
Benefits of filing for bankruptcy
Many people believe that filing for bankruptcy worsens their financial position. However, this is not entirely true. While it is true that bankruptcy affects a person’s finances for some future years, in many cases, filing is the next best option. Here’s why:...
Debunking Bankruptcy Myths
Filing for bankruptcy is scary. There is no denying that it can feel overwhelming and incredibly stressful, especially if you are not aware of the insolvency procedure and think that you are at risk of losing your entire life’s savings and belongings. Over the years,...
Bankruptcy Misunderstandings
Bankruptcy Doesn’t Mean Losing Any of Your Property When most people imagine bankruptcy, they think of one having to part ways with some or all of their assets to pay back creditors. It is because of this misunderstanding that many shy from taking advantage of...
Bankruptcy May Actually Help Your Credit Score
Meta Title: Bankruptcy May Actually Help Your Credit Score Meta Description: Wondering how filing for bankruptcy could help your credit score? You’d be surprised! Keywords: Filing for bankruptcy, credit score Bankruptcy May Actually Help Your Credit Score Bankruptcy...
Costly Mistakes to Avoid When Filing for Bankruptcy.
Bankruptcy can be a dreary experience. Should you want to rise from the ashes on top, we advise you to do a once over of what is not supposed to be done when filing for bankruptcy. Everybody wants to sneak in unscathed giving false records or hiding assets that would...
Bankruptcy Forms and What You Need to Know About Them
Filing for bankruptcy can be an arduous process. It is complicated in its technicality and can be confusing in certain places. It would help if you had assistance, whether or not you are recording under Chapters 7 or 13. Official US court sites give the official...