Bankruptcy can be a fresh start and put you on the road to financial health. However, for a time, your credit will take a hit.
When should a business choose Chapter 7 over Chapter 11?
Chapter 7 bankruptcy is typically associated with individuals who file for personal bankruptcy. In some cases, however, companies choose to file for Chapter 7 rather than the more common Chapter 11. Let's look at when a company might want to consider going the Chapter 7 route.
How can I keep the things I need during bankruptcy?
Your only form of transportation. Your grandmother's jewelry. The house you and your family grew up in. These are some of the assets that people with extreme debt may fret about losing to foreclosure, repossession or bankruptcy. But there is an option that allows people to keep the things they care about and still pay down debts to satisfy creditors.
Do you have to pay a debt that's not on your credit report?
You're getting calls or other notices from a creditor or collection agency on a debt they say you owe. However, you don't see it on your credit report. They must be mistaken, right? Not necessarily.
