For those who qualify, filing for Chapter 7 bankruptcy can be a very quick and effective way to get rid of debt and gain a fresh financial start. Chapter 7 works by discharging debt in exchange for the liquidation of certain assets (on a case-by-case basis). But even...
Bankruptcy is an interesting process. When you file for it, you can protect your assets against collections and even stop things like wage garnishments or foreclosures. You may go through credit counseling and get help eliminating your unsecured debts. Sometimes,...
You've worked hard your entire life, but now you need help. You've lost your job, and you had only a small amount of savings to fall back on. The economy isn't doing well, so finding a new job has been impossible. You're several years away from retirement, and you are...
When you're struggling and think you may need to go through bankruptcy, one thing to try first is debt settlement. Negotiating your debts and settling them for less than you owe is a good way to reduce the amount you have to pay. It's a great way to eliminate debts if...
No matter who you are, you're prone to making financial mistakes. Even if you do your best to avoid them, you never know what'll creep into your life.Unfortunately, some financial mistakes are more damaging than others. Depending on the impact of a mistake, you could...
One of the questions that comes up often when a person is facing a bankruptcy is what assets they'll be able to keep. There are some very specific federal guidelines that you should know if you're considering a Chapter 7 bankruptcy. This is the form of bankruptcy that...
A Chapter 7 bankruptcy filing is a way to get debt under control for some individuals. This is a serious step to take so you must ensure that you consider the pros and cons of taking it. There are several things that you should think about before you file so that you...
Many factors can lead a person to need to file for bankruptcy. When you don't make enough to pay for the debts you have, this is one option that can help you get control of your finances. One of the first things you'll have to do is to determine what form of...
Being in debt is a horrible feeling for many people, especially when they know they can't cover the bills. Individuals who opt to file for bankruptcy might assume that they are going to feel elated when they are able to do away with those debts. This might not be the...
Filing a Chapter 7 bankruptcy can allow Virginia debtors to regain control of their finances. This type of bankruptcy is the faster of the personal filing options and it doesn't require the regular payments that the Chapter 13 filing does.However, in order to file,...