Blog Category: Debt


Retirement Accounts and Bankruptcy

Retirement Accounts and Bankruptcy

When you get behind in your debt, by either losing your job, cut back in hours or significant unexpected expenses, you may worry about losing your retirement account to your creditors.  Cashing in Your Account One option you may think of is cashing in your retirement account to catch up on your debt. If you  … Read more

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Debt Management Plans and Bankruptcy

Debt Management Plans and Bankruptcy

Before you can file for bankruptcy, you must attend a court-approved debt management course. You can attend these online, over the phone, or in person. You will need to file a certificate of completion with your bankruptcy petition. Repayment Plan Not all credit counseling agencies operate the same way. Some debt management programs will be  … Read more

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Debt Consolidation Loans and Bankruptcy

Debt Consolidation Loans and Bankruptcy

When you are overwhelmed in debt and looking for options for financial relief, some people consider debt consolidation loans. These loans are intended to lump all of your debt into one payment.   Secured Loans Some debt consolidation loans come in the form of using the equity in your home or other assets. Since it is  … Read more

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Utilities and Bankruptcy

Utilities and Bankruptcy

Filing bankruptcy can stop your utilities from being terminated by a process called the automatic stay. When you file your bankruptcy papers with the court, the automatic stay goes into effect. The court will inform your creditors of the bankruptcy, and they are prohibited by law from taking any legal action against you. Your creditors  … Read more

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Two Basic Types of Debt in Bankruptcy

Two Basic Types of Debt in Bankruptcy

Most consumer debt can be considered either secured or unsecured debt. Secured debt usually has collateral attached to it. The most common types of secured debt are a home and mortgage and a car and car note. Unsecured debt is basically a promise to pay. These types of debt include credit cards, medical bills, payday  … Read more

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Types of Debt in Bankruptcy

Types of Debt in Bankruptcy

Classifying your debt to determine what category they fall into will help you, and your bankruptcy lawyer determine which type of bankruptcy will suit your needs the best. Secured Debt Secured debt is tied to a specific property. If you have a mortgage, the house will be the collateral. Your car will be the collateral  … Read more

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Debt Consolidation Loans

Debt Consolidation Loans

Debt consolidation loans are intended to lump all of your debts together into one low payment. To get these loans, many are taken as a loan secured by your home or other assets. You may get a better rate with a consolidation loan than with high-interest loans and credit cards. Benefits Another benefit is the  … Read more

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Bankruptcy and Utility Shut Offs

Bankruptcy and Utility Shut Offs

If you are behind in your utility payments and worried your electricity, gas or water is about to be turned off. Bankruptcy may be an option to stop that from happening. By filing bankruptcy, the automatic stay will stop any attempts to collect on a debt and stops any legal actions from moving forward. It  … Read more

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Bankruptcy and Secured Creditors

Bankruptcy and Secured Creditors

There are two types of debt to be considered when you file bankruptcy. Unsecured debt includes credit cards, loans, and medical bills. And secured debt is where the creditor holds the property as collateral against the loan. When you file bankruptcy, all actions to collect a debt from you must be stopped. That includes the  … Read more

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Types of Debt and Bankruptcy

Types of Debt and Bankruptcy

There are two basic types of debt, secured and unsecured. Depending on the type of debt you have the most of will determine the best Chapter of bankruptcy you should file. Secured Debt Secured debt is where your loan is backed by collateral. Your home mortgage and vehicle loans are two types of secured debt.  … Read more

  Filed under: Debt