For some bankruptcy can be a life rope thrown out to a person that is drowning in debt and cannot take care of themselves and their families due to the bill collectors calling you on the phone and knocking at your door. However, one should never enter into bankruptcy without first thinking about it long ...
In the United States alone over a million people file for bankruptcy each year. If you’re finding it impossible to pay the bills these days bankruptcy could be an option for you as well. There are two different types of bankruptcy: Chapter 7 and Chapter 13. One allows you to erase all debt in a ...
Years ago, when I filed bankruptcy, the thought that I might not be able to own my own home because of my past bankruptcy never even occurred to me. Now that I am older and a little bit wiser I understand what an impact bankruptcy has on your credit and overall purchase power. In my ...
Chapter 7 is often referred to as ‘fresh start’ bankruptcy because outstanding debts are discharged through liquidation of non-exempt assets. This bankruptcy option is available to individuals and businesses that meet specific criteria set forth by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Filing Chapter 7 requires assistance from a qualified bankruptcy ...
The state of the American economy has many families doing this different than ever before. People are working hard to cut costs wherever possible, and are slashing much of their discretionary spending in order to pay their creditors. Some are experiencing this stress due to job loss or reduction in pay, others due to a ...
