One of the terrible things about debt is that it can lead to many people falling into an endless spiral. It makes people desperate, and they may choose to take certain actions that only make their situation worse. A perfect example of this is when someone is in debt...
Everyone who files for bankruptcy has to qualify for the particular chapter that they file for. With Chapter 13 bankruptcy, the requirements are a little different than that of Chapter 7. And Chapter 7 bankruptcy requirements are different than Chapter 11...
The discharge process is one of the most important aspects of a Chapter 7 bankruptcy. It allows those that have debt to use the bankruptcy process to eliminate -- or discharge -- some of those debts from their record. Liquidation goes a long way towards eliminating...
Chapter 7 bankruptcy is a very common type of bankruptcy filing. Many people choose this type of bankruptcy every year. But what are the benefits to Chapter 7 bankruptcy? And what are some of the downsides to such a bankruptcy filing? Today, let's examine some of the...
Filing for bankruptcy is a big step in any person's life. It doesn't matter how sure you are going into the bankruptcy -- because you will still have plenty of questions, and probably some fears too. So it is best to get as much information as you possibly can before...
People can be in a good financial position and still lose control of it very quickly. Consider this: you have been working hard and saving up for months on end. After accruing a solid amount of savings, you prepare to make a big purchase. But all of a sudden, your car...
Bankruptcy carries many stigmas with it. People view bankruptcy in a certain way and they have been conditioned to think of bankruptcy as the desperate last act of an irresponsible person. However, this is a myth. Many of the preconceived notions that people have...