One mistake that people sometimes make when thinking about bankruptcy is to assume that they have to give up all the assets that they own. They understand that Chapter 7 erases their debt, but it does so by liquidating those assets. This means that they have to be...
By the time you find yourself considering personal bankruptcy, you are probably quite far behind on your financial obligations. You may have to choose which debts to make payments on when you receive paychecks or choose between making payments and covering basic...
There are many links between your health and your finances. When it comes to bankruptcy, however, people usually think of these working in just one direction. If your health declines, that can lead to high medical bills, and those are one of the top reasons for...
The term bankruptcy still carries with it some negative connotations. It’s a common misconception that only those who have been reckless with money file for bankruptcy, but this is far from the truth. Financial hardship can fall upon anyone. If you’ve been in this...
People filing for bankruptcy might assume that they will feel elated when they get their case filed. While that might be the initial and primary feeling, a host of emotions come with filing for bankruptcy protection. It’s best to be able to prepare for every aspect of...
College life is all about getting through classes and coming out on top, which may mean buying expensive books, renting an apartment, buying a car, drinking lots of coffee and ordering late-night meals while studying. Most college students work while attending...
As someone who owes a debt, you already know that you need to repay it and that it is late. The creditor may call and inform you about the debt, but if you ask for more information or try to negotiate, you shouldn’t have to worry about them yelling at you, degrading...
Bankruptcy can be a welcome relief if you are overwhelmed by debt. However, while declaring bankruptcy, honesty is not only a prudent idea, it is a requirement. Being forthright about everything you own or what you have an interest in can save you from claims of...
When you consider the top reasons for bankruptcy, you may think that it usually just means people spent too much money. They took on an incredible amount of debt. It was reckless and they never had any chance of paying it off, so bankruptcy was the inevitable...
Filing Chapter 7 bankruptcy is brand new territory for most people. There is a lot to take into consideration, not the least of which are the things you should not do. It’s important that you know and understand what is advisable for you to do - and especially what...