When someone considers the option of going bankrupt, they are definitely in the most difficult situation and they cannot pay off their debts. However, when it comes to student loans, we have often heard that it cannot be discharged through this process. Well, it is...
Chapter 7
The What, When, Why – Chapter 7 and Chapter 13 Bankruptcy
Chapter 7 and Chapter 13 are two common bankruptcy programs available to individuals to discharge their debts. If you ever got confused between the two, here is a quick what, when, and why to help you learn their differences. What is Chapter 7 Bankruptcy? Chapter 7...
4 Quick Tips to Regaining Your Financial Health After Bankruptcy
A bankruptcy discharge can definitely hurt your credit score, but nonetheless, without the burden of your past debts, you can find it much easier to regain your financial health. 1. Plan a Budget Budget planning is central to effective money management. On a...
Payday Loans and Bankruptcy
Payday loans, also commonly known as cash advances, check advances, or paycheck advances, may seem like an appealing option to those falling behind on their bills. However, when people start to rely heavily on payday loans, they can get stuck in a pattern and end up...
5 Biggest Mistakes to Avoid with Chapter 7 Bankruptcy
Photo by Daniela Holzer on Unsplash If you are struggling with a mountain of debt, a Chapter 7 bankruptcy allows you to resolve yourself of the burden and start your financial life on a fresh slate. However, there are a few pitfalls that one should take care to not...
Have You Ever Wondered Who Pays for Bankruptcies?
If you are a debtor who is out of options and is now thinking of going bankrupt, it might be the right way to go for you. However, if you are an investor, a personal creditor, either secured or unsecured, the situation for you will be very different if one of your...
Planning for Chapter 7 Bankruptcy – 5 Quick & Helpful Tips
1. Any debt incurred after the bankruptcy filing date does not qualify as part of your discharge. Therefore, it is best to file when one is sure that they are reasonably sure that they won’t be incurring any further unmanageable expenses while during and after the...
Your Common #Bankruptcy Questions Quickly Answered
—-Your Common #Bankruptcy Questions Quickly Answered—- 1. Will I lose my house in Chapter 7 Bankruptcy? In most cases, your house will most likely be exempted from being sold off in a Chapter 7 Bankruptcy case. 2. Can Bankruptcy take my social security? As per Federal...
Debts That Cannot Be Discharged in Bankruptcy
While filing for Chapter 7 or Chapter 13 bankruptcy can release you of debt and give you a fresh start, this is not true for all types of debt. You don’t have to worry about consumer debt, like most medical and credit card bills, as these fall under the category of...
Chapter 7 Bankruptcy – 7 Essential Things to Know
Thinking of getting a discharge by filing for a Chapter 7 bankruptcy? The information here might be useful. 1. The Means Test To qualify for filing a Chapter 7 bankruptcy case, you have to first pass the Means Test. This test takes note of your debt, income, expenses,...