Chapter 7 Bankruptcy

People who have more debts than income may recognize that they need to take steps to get their finances under control. One of these options is that they may opt to file for bankruptcy. Consumers typically have to decide if they’ll file for Chapter 7 or 13, both of...

When deciding to file for bankruptcy, one of the biggest concerns people have is losing their home. The truth is, many factors will determine if you can keep your house while making a financial fresh start. One of those factors is the type of bankruptcy you choose....

Being in debt and receiving endless calls and letters from creditors can be overwhelming. If you have decided to file for bankruptcy after assessing your situation, you will observe certain procedures, including taking courses. Here are two courses you are required to...

As if divorce isn’t stressful enough, many couples facing the end of their marriage also find themselves in dire financial straits. When the bills pile up, and the debt collectors start calling, it’s natural to start looking for a way out. One option that may seem...

Declaring bankruptcy is beneficial because it can protect you from lawsuits and end numerous calls and letters from creditors. However, the system's purpose is to help people sinking into high debt. Thus, to filter those who may want to take advantage of it when they...

A lot of people are scared to file bankruptcy – particularly Chapter 7. Long known as a “liquidation bankruptcy,” people often have images stuck in their head from movies and television shows where deputies carry off every last stick of furniture and item that someone...

Bankruptcy is often described as a financial tool that can eliminate debt and give you a fresh start financially. This sounds great to many people, who may always keep it in the back of their minds as an option. If the debt level that they’re facing gets a bit high,...

In a lot of cases, bankruptcy is a one-time event spurred by something outside of your control. It could be medical debt, for example, or other unexpected costs. But even in cases where you simply were spending above your means, this doesn’t have to be a consistent...

The different kinds of bankruptcy each have drawbacks and benefits. Individuals usually need to choose between Chapter 7 and Chapter 13 bankruptcy unless they also own and operate a small business or farm. Chapter 13 bankruptcy is easier to qualify for, but it...

When things are not working out with your finances, and you are thinking of filing for bankruptcy, it is never an easy decision. You are constantly worried about what the future holds, given the current state of affairs. You may be wondering whether you will keep some...