What Is a Secured Claim in Bankruptcy?
When filing for bankruptcy, your creditors have rights. And one of those rights is to receive payment by submitting a secured claim form to receive payment on the debts you owe. If filing for bankruptcy, it is probably because you owe a considerable amount of debt and your income can no longer satisfy those monthly…
How Are Debt Consolidation Loans Handled during Bankruptcy?
Debt consolidation loans are advertised for those who are in over their heads in debt and want to take multiple payments and combine them into one. But how are debt consolidation loans handled during bankruptcy? Sometimes, they come from financial institutions, while other times they come from a consolidation agency. Regardless, the principle idea is…
Financial Mistakes That Lead to Bankruptcy – and How to Avoid Them
Life happens. And while there are some things out of your control (even financially), there are also ways to drive yourself closer to the point where you need to file for bankruptcy. Have you made financial mistakes that lead to bankruptcy? No one sets out in their adult years with the intention of filing for…
Prevent Filing for Bankruptcy Again by Following These Tips
Filing for bankruptcy the first time can be devastating. You feel as though you have failed yourself financially, and maybe failed your loved ones. It is embarrassing to get up in front of a judge and admit that you cannot pay your bills and you need a bailout. How can you prevent filing for bankruptcy…
10 Common Mistakes to Avoid Before Filing for Bankruptcy
No one goes through life with the intention of filing for bankruptcy. It is easy to make mistakes before and during the process. What are common mistakes to avoid before filing for bankruptcy? While these mistakes might seem minor, they could be detrimental to your bankruptcy case – and even result in a dismissal. It…
The Criteria for Filing for Chapter 7 Bankruptcy
What are the criteria for filing for Chapter 7 bankruptcy? Before October 2005, a bankruptcy court judge would decide who qualified for Chapter 7. 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….
Tips for Cleaning Up Your Consumer Credit Report
Do you need help cleaning up your consumer credit report? Your consumer credit report can determine everything from getting approved for a home loan, to getting money for your education, to getting a job. Five percent of consumers in the United States have errors on their credit report that could lead to unfair denials, says…
Does Bankruptcy Make Sense for Your Financial Situation?
Does bankruptcy make sense for your financial situation? 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…
Common Bankruptcy Myths Finally Debunked
Do you know the common bankruptcy myths? 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…
What Happens to a Jointly Owned Home in Bankruptcy?
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….