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Loss of Income and Bankruptcy

Loss of income is one of the main reasons given when consumers file bankruptcy. Job-related financial stress and layoffs being the reasons cited most. Being unemployed and underemployed with no reliable source of income makes it next to impossible to pay your debt.... Loss of Income and Bankruptcy

Bankruptcies Fresh Start

When you get hopelessly behind in your debt and don’t see a way to pay everything you owe, bankruptcy can give you financial relief. You can get a fresh start on a debt-free future in as little as three to six months by filing a Chapter 7 bankruptcy. Automatic Stay... Bankruptcies Fresh Start

Bankruptcy and Your Assets

When you file chapter 13 bankruptcy, you have the opportunity to keep your assets during a “reorganization” where you offer a fair payment to creditors in return for maintaining your property. Chapter 7 is a little different; while you may keep your assets if you have... Bankruptcy and Your Assets

Bankruptcy and Creditor Calls

When you miss payments, your creditors may call you frequently in an attempt to get you to make a payment. The stress from the constant calls can be overwhelming. When you file bankruptcy, a process called the “Automatic Stay” stops your creditors from contacting you... Bankruptcy and Creditor Calls

Chapter 13 Bankruptcy Basics

When you are trying to decide which bankruptcy is a good option to save your home from foreclosure, Chapter 13 may be the best option for you. In Chapter 13 bankruptcy, you do not lose your assets, and you will have three to five years to catch up on your payments... Chapter 13 Bankruptcy Basics

Bankruptcy and Your Credit

People are often hesitant about filing bankruptcy because of what it will do to their credit. They know that a bankruptcy can stay on your credit report for ten years. They should also consider that being behind in their payments can cause a negative impact on their... Bankruptcy and Your Credit

Two Types of Debt in Bankruptcy

For the purpose of figuring out what type of bankruptcy will suit you best, you need to know how most of your debt is classified. Typically, consumer debt falls into two categories, secured and unsecured. Unsecured debt is obtained by a favorable credit score and a... Two Types of Debt in Bankruptcy

Debt Settlement Firms and Bankruptcy

When people are in a financial crisis, they often turn to debt settlement and debt negotiation firms for help. While some of these firms legitimately help people resolve their debt, there are many that are out to make a fast dollar off an unsuspecting consumer.... Debt Settlement Firms and Bankruptcy

Chapter 7 Bankruptcy

  Also called the “liquidation” bankruptcy, Chapter 7 is the quickest and easiest form of bankruptcy. In three to six months, all of your qualifying debt can be eliminated. Anyone can file Chapter 7 bankruptcy that lives in the United States or has property in... Chapter 7 Bankruptcy

Bankruptcy’s Fresh Start

Filing bankruptcy can be an emotional decision. No one likes to admit that they lost control of their finances. Often to no fault of our own, we have lost the ability to keep up with our payments. Reasons can be: Loss of a job Lay off or cut back in hours Unexpected... Bankruptcy’s Fresh Start