Falling behind on mortgage or loan payments is hard enough as it is, but having debt collectors harass you constantly is something you shouldn’t have to deal with. Fortunately, the Fair Debt Collection Practices Act (FDCPA) provides consumer-protection from harassing phone calls and unfair practices. This federal act allows a debtor to report a [...]
Filing bankruptcy today won’t hinder you from buying a home soon. You may even apply for a home mortgage before your bankruptcy case is closed. Below is an overview of how the two most common types of bankruptcy influence your ability to apply for a mortgage, as well as a home buyer’s other options [...]
For debtors who find themselves grappling to pay for outstanding loans, filing for bankruptcy (Chapter 7) is a good recourse. But before you submit your bankruptcy application and have debts discharged, you need to meet certain qualifications prescribed under the bankruptcy law. Who is qualified to file for bankruptcy? This post talks about the [...]
Bankruptcy is an option offered by the government to debtors who are unable to get out of debt on their own. It is a legal proceeding designed to give those who are financially bankrupt to get some debt relief and a fresh start. Federal law provides individuals and businesses the right to file for [...]
Filing bankruptcy can be a daunting process especially if you need to take note of important details that may affect the outcome of the bankruptcy case filed. All debtors who decide to file for bankruptcy must disclose all unsecured and secured debts, also called “creditor claims”, in their official bankruptcy forms. As categorizing a [...]
If you’re financially struggling, declaring bankruptcy may be your path to debt relief. Bankruptcies are known to be effective in addressing financial problems, and the different types of bankruptcy in the bankruptcy code ensure that there is a bankruptcy chapter that specifically suits your financial circumstances. For instance, if it’s your wish to continue [...]
The bankruptcy code presents various types of bankruptcy, but if your intent is to file for personal bankruptcy, the bankruptcy chapter for you is either 7 (liquidation) or 13 (reorganization). If you want to be able to keep as much property as possible, the Chapter 13 bankruptcy process is the better option. Under Chapter [...]
If you’re out of your depth with your financial problems, a petition for bankruptcy may be in order. Understandably, there are some things you have to do before filing that bankruptcy petition and working on getting out of debt. The first step you need to take is to figure out your finances. You must [...]
Can I file bankruptcy with no-assets? If you’re considering bankruptcy, one of the first steps you have to take is choosing among the various types of bankruptcy presented in the bankruptcy code. Generally, people who want to file personal bankruptcy do so under either Chapter 7 or Chapter 13. If you want a quick [...]
West Virginia Bankruptcy Basics There is a myth that many credit card companies perpetuate that only people who overspend go bankrupt. This simply isn’t true. Many people who don’t misuse their credit cards have filed for bankruptcy with a United States bankruptcy court. Bankruptcy lawyers will tell you that many of their clients were [...]