The Criteria for Filing for Chapter 7 Bankruptcy

Bankruptcy
chapter 7 bankruptcy

Before October 2005, a bankruptcy court judge would decide who qualified for Chapter 7 bankruptcy. Unfortunately, this gave judges an exceptional amount of discretion, and often consumers who should not have filed for Chapter 7 were able to do so – instead of using Chapter 13 bankruptcy. Since then, new laws have been made creating…

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Tips for Cleaning Up Your Consumer Credit Report

Bankruptcy
credit report

Your consumer credit report is a very important document. It can determine everything from getting approved for a home loan, to getting money for your education, to getting a job. Sadly, 5 percent of consumers in the United States have errors on their credit report that could lead to unfair denials, says the Federal Trade…

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Bankruptcy: Does it Make Sense for Your Financial Situation?

Bankruptcy
bankruptcy

Deciding if you should file for bankruptcy is never easy. The process takes time, costs money, and you are already struggling financially. When you file for bankruptcy, you lose control of how your assets and finances are handled. While there are reasons keeping you from filing for bankruptcy, there are instances where bankruptcy makes more…

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Common Bankruptcy Myths Finally Debunked

Bankruptcy
Bankruptcy

No one goes through life planning to file bankruptcy. Even those who know they need to file for bankruptcy have developed such a misguided view of this legal tool that they fear doing so. Bankruptcy is nothing to fear, and you should not give into the stigmas surrounding it either – especially when you are…

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What Happens to a Jointly Owned Home in Bankruptcy?

Bankruptcy
divorcing sad woman and man

The joint-owned property, such as that owned by a married couple, can affect how a bankruptcy is completed. If one spouse is going to file for bankruptcy, but there are assets in both of your names, it is imperative you speak with an attorney about these properties; especially when it comes to the family home….

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5 Steps to Pre Bankruptcy Planning

Bankruptcy
depressed man and bankruptcy form

It is imperative that you plan when considering bankruptcy. The actions you take, weeks and even months before you file, could dramatically impact the outcome of your case. Regardless of how bad your financial situation is, the more steps you take ahead of time, the better the outcome will be for your case – and…

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Credit Card Debt is Your Worse Enemy: 3 Ways to Defeat It

Bankruptcy
credit card debt

Credit card debt plagues thousands of American consumers each year. In fact, the average American household in 2016  has $134,643 in debts, and those with credit cards found that they spend $1,300 per year on interest for the credit cards alone. Once credit cards can run your monthly budget, you might find that you are…

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7 Steps to a Successful Bankruptcy

Bankruptcy
bankruptcy

When you find yourself over your head with debt, and you can no longer meet your payment obligations, you might look to bankruptcy. Bankruptcy is a legal remedy for consumers who need a fresh start and relief from creditors and collection agencies. However, it is a serious financial decision that will impact your financial health…

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How to Avoid Filing a Second Bankruptcy in the Future

Bankruptcy
second bankruptcy

No one goes through life expecting to file bankruptcy. However, it happens for some consumers. Whether it is a medical emergency, job loss, or another incident that forces you to fall behind and eventually seek help from the courts, bankruptcy is there for consumers who cannot satisfy obligations. Unfortunately, some consumers end up filing bankruptcy…

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Warning Signs that Bankruptcy is on the Horizon for You

Bankruptcy
10 signs of bankruptcy

No one goes through life expecting to file bankruptcy, but it happens. Sometimes, the warning signs are clear, while other times they are not so obvious. Regardless of your financial situation – or what you assume it will be like in the future – it is imperative that you know the warning signs of bankruptcy….

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