Most people already know that bankruptcy is going to drag down their credit score. What they may not realize is how many factors influence the full impact of a bankruptcy on their credit report, how long that bankruptcy will stay on their report and how they can...
Month: October 2020
Chapter 13 bankruptcy could save your home
Having a roof over your head is one of the basic physiological needs emphasized by the American psychologist Abraham Maslow in his Hierarchy of Needs. It is necessary to have shelter before building the rest of our lives, our relationships, careers and self-esteem. If...
How to prepare for life after bankruptcy
There may come a point when you realize that you need to file for Chapter 7 or Chapter 13 bankruptcy to get your financial life back on track. While it’s a big decision, it could be the one that propels you to bigger and better things in the years to come. It’s...
What is a nonexempt asset in Chapter 7 bankruptcy?
A person who files for Chapter 7 bankruptcy will have to turn some assets over to the court, so they can be liquidated to pay off as much of the debt as possible. There are two classifications of assets that are used for bankruptcy – exempt and nonexempt. An exempt...