Bankruptcy is defined as a legal process that involves a person or business entity that is incapable to settle unpaid debts. Filing for bankruptcy is usually initiated by the debtor and imposed by a court order. It is the last resort of a bankrupt person to try to stay out of debt. Before you [...]
Life doesn’t always go as planned and sometimes it is a struggle to make ends meet. At times it gets to the point where you're drowning in debt and no longer knows what to do to rise above it. Luckily, the U.S. Federal Law has provisions to give us debt relief in the form [...]
The bankruptcy filing allows you to have a fresh start and secure your financial future. Filing for bankruptcy enables the filer to either pay off or wipe out debts to a creditor. A debtor files a petition in bankruptcy if he or she is no longer capable of paying his or her debts. Once [...]
Getting a car loan is the fastest way to buy a car. There are numerous options for auto loan applications that offer the best financing solutions and interest rates. It may be used for both new and old cars. Car dealers are helping people, especially first-time car buyers, to fill out and submit all [...]
COVID-19 has put a lot of Americans into financial hardship. You need to know about debt, what the difference is between secured and unsecured debt. The types of debt and the bankruptcy chapter will determine what happens to your debt, like whether a collection agency can get back the debt, or whether it can [...]
Declaring bankruptcy is often seen as a last resort by people seeking debt relief. Those familiar with the bankruptcy discharge, however, have an idea of how a bankruptcy filing allows for a fresh start at life without having to pay back every single cent owed to lenders. While not in an absolute way, a [...]
Learning how to file a Bankruptcy Chapter 7 petition can be quite complex. What some people would consider as the first steps in filing for bankruptcy would be to undergo bankruptcy counseling and take the means test. While this is true, the first two things you must do would be: to research common questions about [...]
Bankruptcy laws can be quite confusing, but they are not impossible to get familiar with. Personal bankruptcy, consumer bankruptcy, and business bankruptcy are among the most common terms you will encounter. This article will provide preliminary information on the different types of bankruptcy, which are appropriate for different individuals and circumstances. Look into your [...]
Consumer bankruptcy helps an individual resolve debt under federal court protection. There are several bankruptcy types suited for different circumstances. A Chapter 7 bankruptcy type will likely have unsecured debts (such as personal loans, medical bills, credit card debt, and others with no collateral involved) forgiven or discharged. The automatic stay will also give you [...]
With so many people filing bankruptcy year-round, a lot of questions on how to file bankruptcy cases are also being asked. People considering bankruptcy are often not familiar with what to prepare before bankruptcy, specifics of the actual bankruptcy procedure, and what they can look forward to after bankruptcy. As such, before filing, you should [...]