bankruptcy blog

Bankruptcy is a legal process that helps individuals and businesses to remove all or a portion of their debt. It may be seen as a relief, but declaring bankruptcy has a serious, long-term effect on your credit. Step 1: Find a Good Lawyer You need to find an experienced attorney who can handle your case.  … Read more

Bankruptcy is a viable financial option being used by thousands of people each month who are facing increasing unsecured debt, such as credit card debt, medical bills, or are at risk of losing their car or home. Consider filing for bankruptcy if you are in any of the following desperate conditions: You cannot pay off  … Read more

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