Whether you are struggling in getting debt obligations paid such as medical bills, personal loans, credit card debt, mortgage payments, or student loan debt, chances are you are not alone. Every year bankruptcy is filed by millions of consumers who are tired of struggling in trying to make ends meet and want a fresh start. [...]
Filing Bankruptcy With Little or No Money Filing for bankruptcy with limited income is possible, but it often depends on personal circumstances. In such situations, debtors may qualify to file Chapter 7 instead of Chapter 13 bankruptcy. In Chapter 13, you agree to a repayment schedule approved by the court based on your ability to [...]
The Importance of Bankruptcy Consultations When considering bankruptcy as an option to get you the financial relief you are seeking, taking the time to consult with a bankruptcy expert can make a big difference in how you proceed in choosing the best solution. This is the perfect opportunity to gain clarity about the process and [...]
When a Bankruptcy Discharge is Denied Most debtors seeking to have debt eliminated or discharged may have the action granted by the bankruptcy court. Although a discharge can be denied and in many cases it is due to the debtor doing something they should have avoided. It is important to note that when a discharge [...]
What are the Limitations of Filing Bankruptcy? Many refer to bankruptcy as being a powerful financial tool that can help eliminate or restructure your finances. When you are considering filing for protection, you should know what debt is eligible for discharge since all debts cannot be wiped out. Certain debts, such as credit card debt [...]
Everyone agrees that bankruptcy is a powerful financial tool that can help you obtain a fresh start. Yet there continues to be myths, misconceptions, and misunderstandings about the purpose of bankruptcy and its related processes. A number of bankruptcy professionals who are familiar with such misconceptions can probably write a few books about reasons why [...]
The most common form of debt in the United States is credit card debt . There are millions in circulation by a number of creditors with Chase bank alone having more than 100 million in 2008. While most people feel it is not a big deal to have credit card debt, some who find themselves [...]
Understanding differences between bankruptcy chapters can make a big difference in helping you obtain a favorable outcome for your situation. Most bankruptcies filed by individuals and small businesses include Chapter 7 and Chapter 13. When it comes to understanding which chapter you should file, your debt, income, assets, and financial goals will have a significant [...]
401(k) and Bankruptcy Many who file for bankruptcy qualify for protection of their 401(k), while being able to discharge or eliminate debt. This is common concern debtors have for a number of reasons. Some who are thinking about filing may receive funds from their 401(k) as their only form of income, especially if they are [...]
Filing for bankruptcy can help you eliminate or regain control of your financial obligations. Keep in mind, it may not be the only option for you to consider, but many see it as a last resort when they have done other actions to try and resolve financial issues. Bankruptcy experts and credit counselors even suggest [...]