When facing serious financial trouble, it's natural to learn more about Chapter 7 and Chapter 13 bankruptcy. You may never go down this path, but the information collected will help you better understand your situation.
It's easy to lose track of how much debt you have. Unfortunately, if this happens, you'll find it difficult to steady your situation and make informed decisions regarding your financial future.
No one wants to file for bankruptcy. However, if you find yourself facing financial difficulties, it may be the best thing you can do. Taking this step can help you reduce or eliminate your debt, while giving you the fresh start you need.
If you're inching closer and closer to filing for Chapter 7 bankruptcy, it's imperative to understand what you're getting into. The way you prepare for this process will help you make the right decisions at the right time.
No one dreams of the day when they will file for Chapter 7 bankruptcy, as this means something has gone wrong in regards to your finances.
You hope that your finances will always remain in good standing, but there could come a time when you have no choice but to think long and hard about Chapter 7 bankruptcy.
The calendar has turned to 2018, and with that comes your long-awaited W-2s in the mail (or electronically if you signed up for it). That means it's tax time, and this can be a stressful and debt-filled period of time for many people. They may be worried about the taxes they are about to owe, or they may be concerned about past tax debt that clouds their future.
Chapter 7 bankruptcy is one of the most common forms of bankruptcy, and it can help people all across Louisiana and, indeed, the entire country. While there are some drawbacks to filing for Chapter 7 bankruptcy, there are some substantial benefits to this type of filing as well.
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 and they start accumulating (and using) credit cards in an effort to get out of debt. But in the end, they just make their unfortunate situation even worse.
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 requirements. And so on and so forth.