If you are being sued bankruptcy may be an option to consider. Chapter 7 bankruptcy allows for qualifying debt to be discharged while Chapter 13 bankruptcy restructures debt. A discharge means the debtor will not be obligated to pay toward the judgment. Many debtors have been able to get judgments discharged but it often depends on [...]
For some reason, many people have different ideas about what types of debts are eliminated in a bankruptcy. Ask any one of your friends or family members, and you'll experience a myriad of opinions. Some will insist that you'll lose your house to bankruptcy, while others are convinced that all debts - even tax debts [...]
For some reason, bankruptcy has earned a tarnished reputation; as a result, many people fear getting the debt relief they need by filing for a Chapter 7 or Chapter 13 bankruptcy . They continue to throw their hard-earned money at mountains of debt, despite the fact that the mountain isn't getting any smaller. They think [...]
Why You Need Credit Counseling After Bankruptcy By now, you probably have heard that the new bankruptcy laws enacted in 2005 require all petitioners to undergo credit counseling for a bankruptcy to be successful. While you're certainly not opposed to undergoing credit counseling, you may wonder why such an emphasis is placed on this requirement. [...]
How Long Does Bankruptcy Take? While it's possible to get debt relief in a matter of months, the length of the bankruptcy process will depend on what chapter is filed. Whether it's Chapter 7 or Chapter 13 , each option offers relief under different rules and it may depend on the amount of debts included [...]
When it comes to declaring Chapter 7 or Chapter 13 bankruptcy, you know the right steps you must take to make it happen. Declare all your income and liabilities. Put your credit cards away. Work with your bankruptcy attorney to ensure a successful petition. Breathe a sigh of relief when you finally have that messy [...]
Filing for a Chapter 7 or Chapter 13 bankruptcy may seem like a pretty straightforward process: hire a qualified bankruptcy attorney, submit your assets and debts to the bankruptcy courts, and wait six to nine months for your debts to be discharged or re-arranged. While you may want to leave the finer details to declaring [...]
After you've successfully filed for your Dallas bankruptcy, you may feel like the last thing you want to do is touch a credit card or consider taking out a loan. Besides, the whole reason why you had to file for a Chapter 7 or Chapter 13 bankruptcy is because of credit cards and loans in [...]
Trying to Get a Loan After Bankruptcy? After declaring bankruptcy, you may be tempted to swear off all loans and credit cards forever. However, nothing is better for your financial health than responsibly using lines of credit (with the emphasis on "responsibly"). But finding loans after declaring bankruptcy might feel like the proverbial search for [...]
If you're not familiar with how bankruptcy works its common to have questions about the process. If you have been struggling to pay your debt and continue to fall further behind, bankruptcy is an option worth researching. The following questions are often asked by those who are considering bankruptcy as a possible solution: Q: What [...]