Chapter 13 bankruptcy is somewhat more complicated than Chapter 7 bankruptcy. However, it is accessible to people with higher incomes or more assets that they don't want to sell off for the benefit of creditors. For those who have reached the point where their debt...
Bankruptcy
Does filing for bankruptcy put a stop to creditor actions?
Falling behind on your bills is a stressful experience. You will likely mentally chastise yourself and stress about the gap between what you make and what you owe. You may have trouble sleeping and may experience symptoms similar to depression. As if the punishments...
What is the difference between Chapter 13 bankruptcy and Chapter 7 bankruptcy?
The two basic consumer options for bankruptcy are Chapter 13 and Chapter 7. Both can work excellently in specific situations. Deciding which one you should use is not a matter of deciding which is better overall, but which will work better for your needs. That’s why...
Why Chapter 7 bankruptcy can be suitable for business owners
If you're a sole proprietor of your own small business, you are personally liable for all debts if your business starts to struggle. Therefore, it's important that you take action before your business starts to get into a high amount of debt. If your business has...
How can Chapter 7 bankruptcy help?
As you review your personal finances, it’s your hope that you like everything you see. Unfortunately, this doesn’t always happen. In fact, things may be so bad that you begin to consider bankruptcy. There are a variety of benefits associated with a Chapter 7...
What are the short- and long-term credit effects of bankruptcy?
Of all the reasons that people give for choosing to avoid or delay filing for bankruptcy is the impact on their credit. Bankruptcy will have an immediate and negative impact on someone's credit, and it will remain on one’s credit report for years. However, people may...
How Chapter 13 bankruptcy helps you with financial hardship
When you have more debt than you can handle, you may find yourself struggling to budget your money and cover your basic living expenses. Many people turn to questionable systems, such as debt consolidation programs or settlement services, that only increase their...
How a bankruptcy means test determines who can file for Chapter 7
Filing for bankruptcy can seem like a worst-case scenario for Americans faced with overwhelming debt. However, for many, it is a path to restoring their financial freedom when they are no longer able to pay their bills. A new study shows those financial challenges are...
