Understanding the bankruptcy process includes knowing what steps are involved to ensure a successful outcome. Reviewing your options and planning ahead can help save time and reduce stress. The following helps give you an idea of what to expect and what actions you should plan to take in an effort to complete the filing process [...]
When You Should Wait to File Bankruptcy Sometimes waiting to file bankruptcy may make better financial sense depending on personal circumstances. Holding off on filing may give you advantages that can help you retain property, discharge more debt and avoid potential pitfalls that could prevent discharge of debts. If you've moved to another state and [...]
Planning Ahead For Your Bankruptcy Filing Many consumers don't realize that you can plan filing for bankruptcy months and even years ahead of time. It is not only a wise idea but it may help you avoid common challenges that keep debtors from completing the filing process successfully. Understanding your options may help you retain [...]
Types of Debt Discharged in Bankruptcy One of the benefits of filing Chapter 7 bankruptcy is the ability to discharge qualifying debt. Debt that is discharged is eliminated; meaning creditors are unable to pursue collection attempts against the debtor once the action is granted by the judge. The debtor is no longer liable for the [...]
Mistakes Made When Filing Bankruptcy The bankruptcy process is known for helping many consumers get out of debt but in order to obtain the fresh start you're seeking, you want to go about the procedure in the right way. Certain moves such as leaving out important information or lying about your finances could make your [...]
Is Bankruptcy Your Best Option? Bankruptcy is usually the last option for debtors but some don't take time to review qualifications and requirements. Deciding to file bankruptcy may depend on several factors. It helps to review your situation thoroughly as well as review alternatives to filing. There are different types of bankruptcy you can file. Most [...]
Bankruptcy Dismissed vs. Discharged: What's the Difference? Bankruptcy dismissal and discharge are two different actions that debtors often confuse. When a court discharges your bankruptcy, you have no liability over your debts and creditors can’t collect on them. On the other hand, you are still liable for your debts. You could therefore suffer other consequences [...]
While it's recommended to take time in deciding to file bankruptcy to insure procedures are followed correctly, there are situations in which it makes sense to file a petition immediately. Some people wait to begin the filing process but in turn, waiting may make the situation more challenging. With filing for bankruptcy protection right [...]
Filing Bankruptcy Again? There are many misconceptions floating around about filing bankruptcy again, that those who need to file another time around may become confused. Many believe that once you file bankruptcy that you can't file again but this isn't true. While it's common to accumulate debt after filing the first time, some can't help [...]
5 Common Bankruptcy Myths Millions of consumers file bankruptcy every year and while those who file have their own reasons why, others may assume a filing was done for reasons that may not be true. Some people have certain beliefs about why consumers file for bankruptcy protection, with different myths often keeping people from seeking [...]
