There are many reasons why people struggling financially postpone or avoid bankruptcy. In some cases, that reason is their children. As much as they’d like to utilize the benefits of bankruptcy, they are concerned that doing so would negatively impact their children. Have you put off bankruptcy because you’re worried it could affect your children? […]
Filing for Chapter 7 bankruptcy can be a great way to make a fresh start with your finances. And for many people, the experience is relatively stress-free. Once they work up the nerve to file they realize it wasn’t as bad as many believe, and within a matter of weeks they are working their way […]
When you file for bankruptcy the court assigns a trustee to your case. This is the person responsible for making sure your creditors get what you owe them. He or she is knowledgeable about the bankruptcy process and can get things completed efficiently, but as much as a trustee might seem supportive or like a […]
You have a lot to think about when filing for bankruptcy, and in many cases, you’ll have even more to consider if you are married. One of the biggest challenges faced by those filing for bankruptcy when they are married is how filing will affect their marriage. The good news is there are tools available […]
Bankruptcy can be a smooth transition from financial strife to a much easier life, but in some cases the person filing for bankruptcy faces a few bumps along the way. This is especially true when someone files a lawsuit against you during bankruptcy. In many instances, the automatic stay bankruptcy creates protects you from legal […]
When you decide to pursue bankruptcy, you have the option of filing as an individual or filing a joint petition if you are married. When you file jointly, the bankruptcy court reviews both your credit history and the credit history of your spouse, and makes their decision about your bankruptcy based on information from the […]
Zombie debt. It’s a term that sounds scary and it’s used to describe a phenomenon that can be scary for someone who believes a debt to be a thing of the past. How does a debt come back to life – like a zombie? In the credit world, debts are often sold to third-party financial […]
Filing for bankruptcy is a big step and one of the reasons people postpone the process is because they are scared to make a mistake. For good reason, too. Submitting incomplete or misleading information when you file for bankruptcy can result in rejection of your bankruptcy request. This is true even if your mistake was […]
Bankruptcy is a major life changing event. Though it might not seem like it at first, it is a positive step in the right direction. It’s a commitment, not only to yourself to build a brighter financial future, but to the bankruptcy court and your creditors. And like all big commitments, there are guidelines and […]
Bankruptcy is viewed by many as a last resort – something they do when there are no other options and they are faced with the direst of consequences caused by their financial struggles. Most people also believe their credit scores will suffer when they file for bankruptcy and many choose to postpone filing because they […]
