What Happens When You File For Bankruptcy If you're sinking in debt and don't know what else to do, bankruptcy may be your only choice. Many advantages come with it, but there are a few drawbacks to be aware of. [...]
When a person or other entity is unable to repay their debts to creditors, they are may have to declare bankrupt. Bankruptcy is imposed by court order by the debtor in most jurisdictions. Businesses and individuals can file for Chapter [...]
The automatic stay is a court order that the court implements as soon as you file for bankruptcy. This stops your creditors from asking you for payments during the duration of your case. You will have to provide your attorney [...]
What is Chapter 13 Bankruptcy? A chapter 13 bankruptcy allows people with a regular income to repay all or part of their debts. The debtors propose a plan to pay their creditors in installments over three to five years. Advantages [...]
What is chapter 7 bankruptcy? In a chapter 7 bankruptcy case, the bankruptcy trustee gathers and then sells the debtor's nonexempt assets and proceeds to pay the creditors following the Bankruptcy Code. Some portions of the debtor's property may be [...]
If the debt keeps mounting and you have found yourself drowning in bills and calls from debt collector calls, it might be time to seriously consider the option of bankruptcy. Two common programs used to eliminate debt are Chapter 7 [...]
If you’re considering bankruptcy, it is important to understand the different types and how they will impact you. Here, we’re going to take a look at Chapter 7 – also referred to as liquidation or straight bankruptcy. And this is [...]
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People can face financial distress at any point in their life. And sometimes it can seem as if it just shows up out of nowhere to completely wreak havoc on your life as you know it. Especially in the face [...]
Have you tried catching up on your debt but still can’t seem to get a handle on it? This might have you wondering what your next step should be. Chapter 7 bankruptcy can offer you relief from this debt by [...]
