Bankruptcy is a path to debt relief often used by individuals and businesses in times of prosperity as well as calamity. The year 2020 has dealt tough blows to many families and businesses for reasons that nearly all Americans understand all too well. Many may be...
Month: June 2020
How to keep the family home during bankruptcy
Individuals usually decide to declare bankruptcy after they have exhausted all other financial options. Bankruptcy allows people a fresh financial start, but with a cost. To satisfy as many outstanding debts as possible, banks may require an individual to liquidate...
The differences between Chapter 7 and Chapter 13
The decision to choose whether to file for Chapter 7 or Chapter 13 bankruptcy can be a difficult one. There are many factors to consider. However, most financial and legal guidance suggests that the line separating the two types of bankruptcy strictly divides along...
Bankruptcy is the first step to a better future
There is are many false myths about bankruptcy. Many people believe that bankruptcy is a sign of failure. The fact stands that bankruptcy offers a way of beating crippling financial debt and offering applicants a clean slate. More than 700,000 people file for...
Examine your credit report after a bankruptcy
Individuals who file for bankruptcy often feel as if an enormous weight has been lifted from their shoulders. Debt has either been repaid or discharged and a fresh financial future has been unlocked. Unfortunately, there are steps one needs to follow in order to fully...
When is bankruptcy the right choice?
Among the most unfortunate things about bankruptcy is the public’s opinion. Often seen as a financial failure, people often overlook the benefits of bankruptcy. The laws guiding bankruptcy give Americans a second chance after an unfortunate financial event. However,...
What to expect in the timeline for a chapter 7 bankruptcy
Chapter 7, or the liquidation bankruptcy, is the process of bankruptcy in which the debtor turns over significant assets and the sale of those assets will go to creditors in order to pay off debts. The debtor will receive a blow to their credit score, but they will...
Three options to resolve tax debt
Unpaid taxes can be a serious financial issue. In addition to adding penalties and interest to the amount you owe each month, the IRS may use aggressive methods to secure payment. Paying back taxes often becomes a priority, especially when the IRS decides to garnish...