Bankruptcy and Household Goods Seizures

Bankruptcy and Household Goods Seizures

If you fall behind in your payments, your creditors may threaten to seize the property used as collateral for the payment. There are only four legal reasons a creditor can seize your property. When you get credit to purchase a specific item and agree to use that item as collateral When the creditor insists that  … Read more

  Filed under: bankruptcy


Getting Back on Your Feet After Bankruptcy

Getting Back on Your Feet After Bankruptcy

After you have completed your bankruptcy case and you are looking forward to a fresh financial start, there are a few things you should be aware of. It is important to make good choices in the future to avoid getting into financial trouble again. Budgeting During the bankruptcy process, you had to attend two financial  … Read more

  Filed under: bankruptcy


What Bankruptcy Cannot Do

What Bankruptcy Cannot Do

In the United States, you have the legal right to eliminate your debt when your financial obligations are more than your income. There are some debts; however, that can not be eliminated in bankruptcy. Child support and alimony will never be able to be discharged in bankruptcy. Student loans are very difficult to have discharged.  … Read more

  Filed under: bankruptcy


Bankruptcy Benefits

Bankruptcy Benefits

Bankruptcy is not for every financial hardship, but for some, it can legally eliminate many of your debts. At the end of your case, your debt will be discharged, giving you a fresh start. When you file for bankruptcy, an automatic stay goes into effect as soon as you submit the paperwork to the court.  … Read more

  Filed under: bankruptcy


Chapter 7 Bankruptcy Basics

Chapter 7 Bankruptcy Basics

Chapter 7 bankruptcies are usually not very complicated. Issues typically arise if the trustee thinks you are hiding assets or if a creditor takes aggressive action to collect on a debt. Anyone in the United States can file for Chapter 7 bankruptcy protection. Some of the reasons you may be denied are: If you make  … Read more

  Filed under: Chapter 7


Which Bankruptcy is Right For You?

Which Bankruptcy is Right For You?

Personal bankruptcy usually falls under one of these two types. Chapter 7, or liquidation bankruptcy, and Chapter 13, reorganization bankruptcy. Business bankruptcies generally fall under Chapter 11 that is also a reorganization bankruptcy and Chapter 12 bankruptcy for family fishermen or family farms, which is much like Chapter 13 and Chapter 11 bankruptcies. Chapter 7  … Read more

  Filed under: bankruptcy


Secured Creditors and Bankruptcy

Secured Creditors and Bankruptcy

A secured debt is one with collateral. Often in the form of a mortgage, vehicle, lien, or security interest in a specific property like a refrigerator or couch. If the debtor does not pay on the debt, the creditor can seize the property. Keeping the Property If you want to keep a property that creditors  … Read more

  Filed under: Debt


Wage Garnishments and Bankruptcy

Wage Garnishments and Bankruptcy

Wage garnishments can be embarrassing and make it difficult to pay your already heavy bills. You may be experiencing harassing phone calls if you have fallen behind on your debt payments. Reasons could be due to large unexpected bills, medical expenses, fewer hours at work, or any number of valid reasons that put you behind  … Read more

  Filed under: bankruptcy


Bankruptcy Misconceptions

Bankruptcy Misconceptions

Some misconceptions about bankruptcy are that the person that filed bought lots of stuff they had no intention of paying for, or lived foolishly and now want it all cleaned up. Most of the people that file bankruptcy protection are honest hard working people that due to unforeseen circumstances put too much debt load for  … Read more

  Filed under: bankruptcy