bankruptcy blog

If you have tried other ways to get financial relief from your overwhelming debt, bankruptcy may be the solution for you and your family. Upside Down Payment When you deduct your assets from your liabilities, including the amount still owed, if the number is negative, you are what is considered upside down in your debt.  … Read more

Bankruptcy is a court protected plan to help consumers in financial crises to satisfy their creditors legally. The bankruptcy process protects individuals from repossessions, utility shut-off foreclosures, evictions, wage garnishments, or any other form of legal action regarding your debt. Plans Under the court’s approval, bankruptcy allows the debtor to work out a plan to  … Read more

Debt consolidation loans work by taking out a loan on secured properties, like a home, and the money is used to pay outstanding debt. This could be a good tactic if you will be able to pay off several high-interest credit cards and loans. Often the one monthly payment will be less than the combined  … Read more

During the postwar boom of the 1950s, Americans experienced more buying power and an increase in lending. During this time, The National Foundation for Credit Counseling was developed to provide financial education and credit counseling to consumers. The credit counseling industry was brought about by the lenders, to encourage consumers to use credit wisely and  … Read more

When you have successfully completed your bankruptcy case and received financial relief, there may be a few more things to consider. Discharge Do you have a copy of your bankruptcy discharge paperwork? Are you still being contacted by your creditors attempting to collect on debt already discharged? Is your home or auto lender sending you  … Read more

If you are overwhelmed with debt, struggling to pay the bills and keeping food on the table, hiring a lawyer to handle your bankruptcy could seem like one more debt you can’t afford. When people are looking for ways to save money, they sometimes consider document preparation services for bankruptcy. Best Advice The documents are  … Read more

Bankruptcy is a word that sounds ominous itself and is a scary proposition for some people. Many debtors never enjoy the benefits of bankruptcy, or you can say they are just unaware of its perks. Bankruptcy indeed leaves an adverse effect on a person’s credit report for years, but yet it’s the best option for  … Read more

Bankruptcy is a lawful procedure through which individuals ask the courts for help with their debts. Bankruptcy is dealt with in government courts, and rules are laid out in the U.S. Bankruptcy Code. There are several chapters of bankruptcy for individual filers. Chapter 7 is the quickest and easiest form of bankruptcy. Chapter 13 allows  … Read more

Personal bankruptcy filings allow you to petition for liquidation of assets or reorganize your debts when you can no longer repay them. Although it provides some relief in case of financial distress, there is nothing personal about it. Bankruptcy filings are a public record and can be accessed by the general public by following the  … Read more

Bankruptcy can be tricky to understand, especially when we talk about personal bankruptcy, there are many misconceptions regarding this topic. Bankruptcy is a term used when a company or a person has debts that they can’t repay, being that credit, mortgage payments, or other types of debts. Bankruptcy can, in some cases, reduce or even  … Read more