Category Archives: Bankruptcy
What Not to Do When you File for Bankruptcy
When you file for bankruptcy, there are certain things you need to do like complete a credit counseling session. You also need to make sure you are eligible for the bankruptcy chapter you file. There are also certain things you should do when you are working through the bankruptcy process, like create a household… Read More »
I Filed for Chapter 7 Bankruptcy. Will I lose my Assets?
If you are facing an insurmountable level of personal debt, you may be considering Chapter 7 bankruptcy. Chapter 7 bankruptcy can result in the loss of certain of your assets, but in the vast majority of cases, the filer’s exempt assets are mostly exempt and you can retain them. An experienced Bankruptcy lawyer will… Read More »
How to Know When it is Time to File for Bankruptcy
For many people, “bankruptcy” is a bad word. It often has connotations of failure or an inability to control one’s own financial habits. These connotations are untrue and harmful – individuals and companies use bankruptcy as a tool to manage their outstanding debt for many different reasons. More often than not, the circumstances that… Read More »
Rebuilding your Credit Score After Bankruptcy
Your credit score will suffer after you file for bankruptcy. Bankruptcy will stay on your credit report for up to 10 years after you file. Although you cannot avoid this hit to your credit, you can take steps to mitigate it by raising your credit score and maintaining good credit habits after you file… Read More »
Best Practices to Do Prior to Filing for Bankruptcy
When you are facing an insurmountable level of personal debt, bankruptcy can be the way out. Although bankruptcy is not a legal process to take lightly, it is one to seriously consider if you feel like you cannot take control of your debt through other means. You can make the bankruptcy process easier for… Read More »
Eliminating Divorce Obligations through Bankruptcy
Bankruptcy is a tool used by many to reduce debts that they cannot reduce on their own. Individuals struggling with personal debt can use Chapter 7 or Chapter 13 bankruptcy to discharge their debts. If you are considering filing for divorce, you might be worried about the costs involved with the divorce process and… Read More »
When you are Facing Bankruptcy, You Need to be Completely Honest with your Lawyer – No Matter How Embarrassing
Your lawyer is a professional. When you work with a bankruptcy lawyer, you trust that lawyer to help you reduce your debt by advising you through each step of the bankruptcy process. Each bankruptcy case is unique, and a strategy that helps one individual get out of debt will not necessarily help somebody else…. Read More »
I Cannot Get a Handle on my Debt. Is Bankruptcy my Only Option?
Probably not. In many cases, individuals with significant levels of personal debt have multiple options for taking control of their debt. Although bankruptcy is often one of these options, it usually is not the only option and in some cases, it is not the best option. Below are a few alternate options to bankruptcy… Read More »
Do I Qualify for Chapter 7 Bankruptcy?
For individuals who are struggling with personal debt, such as credit card or medical debt, there are generally two bankruptcy options: Chapter 7 and Chapter 13. Each has unique demands for the bankrupt individual and unique benefits. Although many consider Chapter 13 to be the less austere because you may keep unlimited assets, you… Read More »
What Are Bankruptcy Exemptions?
When you decide to file for Chapter 7 or 13 bankruptcy, you may fear that you will have to surrender all your assets or be restricted to subsistence income. However, this is not the case. There are some assets that the government has no interest in taking, and there are some which will fall… Read More »
