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Michael D. Hart, P.C.
Helping You Move Forward Free Of Financial Problems
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Posts tagged "Chapter 7 Bankruptcy"

How can you negotiate with creditors?

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 you're able to pay off those debts in lump sums, too.

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 doesn't require you to make payments to the bankruptcy trustee, but any nonexempt assets that you have are liquidated to pay off creditors.

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 don't do something you'll regret.

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 bankruptcy protection you qualify for. We can work with you to determine this.

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 case, however, as many people find some negative emotions creep up when they 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 filing for bankruptcy. A Chapter 7 bankruptcy is one of the options that you have.

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 emergency medical bills leave them needing to find a way to satisfy creditors. One option you might consider is filing a Chapter 7 bankruptcy.

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 find a job, is less of a risk than previously thought.


Michael D. Hart, P.C.
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