Financial setbacks happen to everyone and recovering can get complicated. If you are considering declaring bankruptcy, you should know what your options are. Chapter 7 The most common type of bankruptcy, Chapter 7 is also called liquidation bankruptcy because most of...
Year: 2021
Will bankruptcy hurt your job prospects?
Contrary to what many want you to believe, bankruptcy can actually open the door to opportunities. When you leverage this resource the right way, you may find that it allows you a clean slate to rebuild your finances. Bankruptcy can have an impact on areas of your...
Chapter 7 bankruptcy may discharge outstanding medical bills
Individuals with overwhelming medical debts may file for Chapter 7 bankruptcy to regain control of their finances. As noted by Credit Karma, a filing provides immediate relief from bill collectors because of the legal protection known as an automatic stay. After...
What should you know about debt collector misrepresentation?
When dealing with crushing debt, you need a caring and considerate financial counselor and legal help at your side. What you do not need is a debt collector hounding you day and night for your money. Debt collector harassment often gets press for forcing victims of...
Are you suffering from debt collector harassment?
When you struggle with debt and the possibility of bankruptcy, you already have enough worries on your mind. Harassment is the last thing you need to deal with on top of that. While there are laws in place to protect people like you while handling debt, it is not...
Typical bankruptcy debt types and time frames
Bankruptcy courts may discharge most consumer debts including credit cards, certain medical expenses and personal loans. Debts that filers may still have an obligation to pay include a mortgage and student loans. Bankruptcy generally does not discharge debts not...
How do I qualify to file Chapter 7?
The most common choices when filing bankruptcy are Chapter 7 and Chapter 13. To file Chapter 7, you must meet eligibility requirements. The U.S. Courts explain you must meet a means test under bankruptcy law to file this type of case among meeting other requirements....
The 341 meeting of creditors
You filed bankruptcy for relief from creditors that have been calling and sending notices to you for months. Now, the idea of meeting with them may feel daunting. However, the 341 meeting with creditors is one of the primary components of the bankruptcy process,...
Tips for spending your money after bankruptcy
Filing for bankruptcy gives you the opportunity to reassess your finances and start with a clean slate. Without the pressure of overwhelming debt, you can focus your effort on developing healthier financial habits. You may feel uneasy spending any money during or...