Credit cards can be an excellent tool when used responsibly and a costly expense when we let them get out of control. Few people read the fine print on a credit card application, and this can get us into trouble later down the road. The majority of personal bankruptcy cases are due to excessive credit … Read more
Two chapters of the bankruptcy code for personal bankruptcy are Chapter 7 “liquidation” and Chapter 13 “reorganization” bankruptcy. Before considering bankruptcy, you should consult with a bankruptcy attorney to find out which code will suit your personal situation best. Chapter 7 Often called straight, regular, or liquidation bankruptcy, Chapter 7 is bankruptcies purest form. In … Read more
If you are overwhelmed in debt and believe bankruptcy can give you financial relief, you should consider hiring an experienced bankruptcy attorney. You may be tempted to save some money by representing yourself in court. While this may seem like a good idea since you have so many other bills, the property, and money you … Read more
The United States Bankruptcy Code is divided into segments known as “Chapters.” Each chapter is dedicated to specific sections of the code. The chapters are divided by the type of bankruptcy being filed. Large, complex business organizations and corporations seeking protection from the court will file Chapter 11 bankruptcy. Individuals can file Chapter 7 or … Read more
When you file bankruptcy, with the court’s help, you can legally eliminate all of your qualifying debt. Some debt can never be discharged, such as alimony, child support, or current taxes. And some like secured debt will not be eliminated if you plan to keep the collateral. Court Decree The court can rule that you … Read more
When people tell why they filed for bankruptcy, unemployment is often the number one reason given — layoffs and unemployment as being the primary factor of job-related financial stress. For most Americans, an interruption in income will create a pile of unpaid bills. We have been advised to have several months of savings for hard … Read more
When you are behind in your debt, and can’t squeeze out another dime, it is tempting to represent yourself in your bankruptcy case. You can legally file and represent yourself in court, but the question is, should you? The Internet You can find just about anything online these days. You can undoubtedly find a pack … Read more
For debtors so far behind in their debt and have no hope of paying it all off, bankruptcy may be the answer you are looking for. Bankruptcy really can give you a fresh start on your financial future. All of your qualifying debt will be legally wiped away, and you will no longer be obligated … Read more
When you get behind in your mortgage payments, you could lose your home in a process called foreclosure. Foreclosure law can vary by state, depending on where you live the process could take anywhere from one to seven months to complete. If you are close to foreclosure, you might want to consider bankruptcy to save … Read more