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...
Chapter 7 Bankruptcy
Financial mistakes, life changes can result in bankruptcy
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...
Understand how property is handled in a Chapter 7 bankruptcy
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...
Know the impacts of filing Chapter 7 bankruptcy
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...
Know the ins and outs of a Chapter 7 bankruptcy
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...
Prepare for emotions that come with bankruptcy
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...
Know these requirements for Chapter 7 bankruptcy
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,...
Exempt versus non-exempt assets in a Chapter 7 bankruptcy
Being unable to pay your bills is a serious matter, especially when you want to get the creditors taken care of. Unfortunately, some of life's circumstances won't make this possible. If you're in a position in which you're unable to pay your bills, you might consider...
Know the benefits of filing Chapter 7 bankruptcy
When you realize that you can't pay your bills, you might start to look at ways to make ends meet. The downturn of the economy may mean that you don't have all the options at your disposal that you might have previously had. For some people, sudden job loss or...
Bankruptcy may not keep people from getting a job
People in Virginia may have always been under the impression that filing for bankruptcy could have a catastrophic effect on their future even though their debt has been discharged. However, researchers now believe that one of the possible effects, not being able to...