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Chapter 7

Recent Posts in Chapter 7 Category

  • What Happens to My Assets During Bankruptcy?

    Filing for bankruptcy can be overwhelming, especially if there is a possibility you can lose all your assets. There are cases when the court may force you to sell certain belongings to pay back your creditors— particularly through a Chapter 7 bankruptcy . However, not everything you own will be up for sale. When you file for bankruptcy, there are certain assets and property that are exempt from ...
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  • Does Filing for Bankruptcy Affect Your Spouse?

    Married couples share every aspect of their life with one another, even their finances. Still, sometimes one member of the marriage may need to declare bankruptcy to get out from under their debt, even if the other doesn't. If you are married, you can file for bankruptcy without your spouse. However, even if you file as an individual, it may still affect them. How Can Your Bankruptcy Affect Your ...
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  • Which Bankruptcy Option Will Allow Me to Keep My Home?

    Making the decision to declare bankruptcy is a challenging process—especially when it can jeopardize the ownership of your property. If you are thinking about declaring bankruptcy but worry about what might happen to your home, there are various ways to help you keep your house. There are two different types of bankruptcies you can file for: Chapter 7 and Chapter 13. Chapter 7 allows you to ask ...
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  • How Your Credit Score Is Determined

    Your credit score reflects your ability to borrow money. The higher your score, the easier it will be to obtain a mortgage car loan, lease, credit card or other extension of credit by a lender–including banks, stores and other credit card issuers. Your credit score is reflected by your credit report and may affect a lender’s decision to grant your request to borrow money. The Three Major Credit ...
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  • Can Bankruptcy Help With Payday Loans?

    In the long-term, there is no escaping debt by continually using predatory payday loans. It always starts with “just this once”. Perhaps you need an advance of a few hundred dollars to hold you over until Friday when you get paid. You spend that money before you have it. Then, payday arrives, and they want their money, (plus interest). We call this usury. Flash forward to a week later–and now ...
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  • Can Bankruptcy Help With Medical Bills?

    The simple answer is: Of course bankruptcy can help with Medical bills! In fact, nearly 60% of bankruptcies filed in the United States are related to medical bills and most of our clients have some medical bills listed on their petitions. With the rising costs of insurance, many employers have either cut back on their programs by reducing benefits. This leads to you (as an employee) paying more ...
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  • Rebuilding Your Credit After Bankruptcy

    Although bankruptcy can be extraordinarily helpful for families who are overwhelmed with debt, many people choose not to file because they fear the effects that bankruptcy will have on their credit score. The truth is, continuing to leave your debts unpaid or even risking wage garnishment and other penalties can often be more detrimental to a credit score and a family’s overall financial situation ...
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  • Bankruptcy And Student Loans

    With the high cost of education in the United States, it’s no wonder that recent graduates and even individuals who have dropped out of college owe tens of thousands of dollars in student loans. With the difficulty of obtaining a well-paying job continuing to rise, many students are left with expensive degrees and no real way to pay for them. While declaring bankruptcy can help you get rid of many ...
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