Financial burdens arise for various reasons in life. Despite the story that led you to consider bankruptcy, seeking solutions to an unmanageable money trap is commendable. Not everyone has the courage to face a financial disaster that is directly attached to your...
Month: January 2018
Pros and cons of using a loan to pay off debt
Virginia residents and others who have debt are likely to be paying off car loans, student loans and credit card balances. They may also be paying down home mortgages. The typical American household that does carry debt averages $131,431 owed to creditors. Some...
What trustees do in a bankruptcy
The role of a trustee in bankruptcy varies depending on whether the person has filed for a Chapter 7 or a Chapter 13 bankruptcy. In either case, when a Virginia consumer decides to file for bankruptcy, it is necessary to complete a document that lists assets, debts,...
What does a bankruptcy timeline look like?
Imagine that after graduating from college, you find a job that makes you proud and allows you to live the life you've always wanted. As the months and years pass, you keep saving to make a big purchase, such as putting a down payment on a house. But suddenly, it all...
The differences between Chapter 7 and Chapter 13 bankruptcy
If you are living with unmanageable or overwhelming debt, there is hope for your future. Despite any associated stigmas, bankruptcy can be a meaningful solution that gives you and your family a needed fresh start without losing all your assets.If you are considering...