Bankruptcy and Your Credit

Bankruptcy and Your Credit

One of the least desirable aspects of filing bankruptcy is that it will remain on your credit report for ten years. Thinking you will not be able to obtain credit for that length of time can be a scary thought. If you are delinquent on your debt and are missing payments, these negative marks can  … Read more

  Filed under: Credit


Keeping Assets in Bankruptcy

Keeping Assets in Bankruptcy

When bankruptcy comes to mind, you may think of your creditors taking all of your property to pay your debt. When actually, most of the time, you will lose little to none of your property when you file bankruptcy. Bankruptcy can be a way to keep your possessions like your home or your car if  … Read more

  Filed under: bankruptcy


Secured Creditors and Bankruptcy

Secured Creditors and Bankruptcy

When you file bankruptcy, you may worry about what will happen with your secured assets like your home or your cars. Bankruptcy provides some flexibility in dealing with your secured debt. Liens Sometimes bankruptcy can remove a creditor’s lien, making the debt unsecured and eligible to be eliminated with the rest of your unsecured debt.  … Read more

  Filed under: Debt


Is Bankruptcy the Last Resort or Important Tool?

Is Bankruptcy the Last Resort or Important Tool?

Some people advise that bankruptcy should be the last resort when trying to get your finances under control. While there is certainly nothing wrong with trying other measures first before filing bankruptcy, sometimes by waiting too long, you could lose significant legal rights available to you. Automatic Stay It is essential that you speak to  … Read more

  Filed under: bankruptcy


Bankruptcy Benefits

Bankruptcy Benefits

Filing bankruptcy can do more than just relieve you of debt, it also has other benefits involved. Most people are aware that bankruptcy can solve most of your financial problems by eliminating all of your qualifyings debt, such as: Credit card Medical debt Utility bills Old taxes Some student loans Personal loans Payday loans Chapter  … Read more

  Filed under: Filing bankruptcy


Spending Compulsion and Bankruptcy

Spending Compulsion and Bankruptcy

In times of stress, some people enjoy a temporary fix with “retail therapy.” Occasional unnecessary shopping trips pose little harm, but when spending money becomes a compulsion, it can cause serious problems. If spending more than you can afford becomes a chronic problem, it can interfere with your home or work life significantly. Credit Card  … Read more

  Filed under: Money Management


Bankruptcy Abuse and Prevention Act

Bankruptcy Abuse and Prevention Act

The Bankruptcy Abuse and Prevention Act was a bill enacted in 2005 and lobbied heavily by the credit card companies. While the credit industry did not get everything they asked for, they did get a lot of changes made to the Bankruptcy Code, making it more difficult and costly for individuals to file bankruptcy. Added  … Read more

  Filed under: News


Hiring a Bankruptcy Attorney

Hiring a Bankruptcy Attorney

When you are overwhelmed in debt, the thought of paying for a bankruptcy lawyer and court fees can seem frustrating. Bankruptcy court fees vary by state, and they type of bankruptcy you are filing. The more paperwork for the clerk to process, the higher the cost. Attorney fees are basically the same way, the more  … Read more

  Filed under: Bankruptcy Attorney


Chapter 13 Bankruptcy Process

Chapter 13 Bankruptcy Process

If you are behind in your home or other secured property payments and worry you may be facing foreclosure, Chapter 13 bankruptcy may be your financial solution. Chapter 13 involves a court-approved repayment plan allowing you time to catch up on your arrears without losing your home or other assets. You must have a reliable  … Read more

  Filed under: Chapter 13


Chapter 7 Bankruptcy Process

Chapter 7 Bankruptcy Process

If you have the choice on which chapter of the bankruptcy code for personal bankruptcy, most people would choose Chapter 7. Chapter 7 is the quickest and easiest form of bankruptcy. You can have the entire process over in three to six months and come out the other side with all of your qualifying debt  … Read more

  Filed under: Chapter 7