If you have a low income and few assets and cannot pay your bills, you may consider filing Chapter 7 bankruptcy. Up to 63% of those who filed for bankruptcy in 2019 chose Chapter 7. Chapter 7 bankruptcy can result in the dismissal of any of your unsecured debts while...
Month: July 2022
4 steps to filing Chapter 7 bankruptcy
Chapter 7 bankruptcy may be a good option for you if you do not have enough money to pay off your debts. In theory, the idea behind Chapter 7 bankruptcy is the liquidation of your assets, i.e., selling them to pay off your debts. However, there are exemptions for...
What is indirect debt collector harassment?
Under the Fair Debt Collection Practices Act (FDCPA), debt collectors can no longer make harassing moves or take actions that constitute as harassment against people in debt. However, some debt collectors have taken this as a challenge. Rather than ceasing with their...
What is forbearance and how can it help you keep your home?
Life has a way of throwing hardships at homeowners. Anyone can experience an unexpected job loss, illness or flood. These situations lead to economic hardship. Keeping up with mortgage payments can become impossible. Suddenly, there is the looming threat of...
What documentation should I gather before filing bankruptcy?
When you complete your bankruptcy paperwork, it is critical that you ensure you include all the information about your finances. It is essential that everything in the documents is completely correct and 100% complete. The US Courts explains that if you leave anything...
