When you find yourself in a difficult financial situation, it is important to understand your options. Before you gain a sense of clarity, it is not uncommon to let your worries spiral out of control. In this way, you can actually make the situation worse than it is....
Chapter 7 Bankruptcy
Exempt assets under bankruptcy law
If you are planning on filing for Chapter 7 bankruptcy, you may be wondering if you get to keep any of your assets or if you have to give up everything. Fortunately, there are some assets that the court considers to be exempt, which means you can hold on to them....
What assets can I keep after filing Chapter 7 bankruptcy?
If the fear of losing assets is preventing you from filing for Chapter 7 bankruptcy while keeping you drowning in debt, it may be time to reconsider the facts. Many people avoid filing for bankruptcy due to the common misconception that it will automatically lead to...
Recovery is possible after bankruptcy
If you are considering bankruptcy, or if you have a recent bankruptcy, you may be wondering how it is going to affect your credit and financial future. It is true that bankruptcy puts a dent in your credit score, but it does not last forever. The advantage that filing...
Chapter 7 bankruptcy basics
Filing for bankruptcy can be an intimidating process, partly because of the stigma attached to it and partly because of the complex legal requirements you have to meet. Fortunately, there is less stigma surrounding bankruptcy as people start to understand that it is...
3 differences between Chapter 7 and Chapter 13 bankruptcies
Bankruptcy gives you the capability of wiping out your debts, allowing you to start again fresh. It allows you to gain financial freedom. Chapter 7 and Chapter 13 are the two most commonly used bankruptcies. Here are three differences between them that may help you...
A bankruptcy filing may preserve a retirement plan
Increases in older Americans struggling to pay debts may cause some of them to empty a retirement account when they may not need to. Baby boomers and seniors facing financial issues may protect their retirement plans when filing for bankruptcy. Chapter 7 bankruptcy...
What is the difference between a dismissal and a discharge?
There are two ways your bankruptcy case may end. The court can either dismiss it or discharge it. According to the United States Courts, the goal should be a discharge because this means the court accepts your bankruptcy case and forgives your debts. A dismissal...
Should you reaffirm your debt during bankruptcy?
If you are struggling with overwhelming debt, you may consider filing for Chapter 7 bankruptcy as a way to gain financial freedom. Also known as liquidation bankruptcy, Chapter 7 allows you to discharge much of your unsecured debt, including credit card debt,...
Title: Is bankruptcy right for you?
If you have what feels like an insurmountable amount of debt, you may want to consider bankruptcy to get a fresh start. Filing bankruptcy can help you erase certain debts and gives you the opportunity to move forward financially. Bankruptcy is a common experience for...
