If you fear that you need to file for bankruptcy, it's important to consult with a bankruptcy attorney or another financial professional. You may not need to file for bankruptcy; some people are able to consolidate their debts.
What Is Debt Consolidation?
If this is your first small business, one thing you may be overwhelmed with is multiple debts with different balances and interest rates. With consolidation, instead of paying each debt off separately, you will combine the debts into one monthly payment. Read More...
Filing bankruptcy can be stressful and embarrassing, but adding a bankruptcy hearing to the mix can make many people even more nervous. If you are filing for bankruptcy or considering filing for bankruptcy, you may need to attend a formal hearing before your debts can be cleared. Check out these facts to help you prepare for your Chapter 7 bankruptcy hearing.
The Hearing Is More Casual Than Court Hearings
The bankruptcy hearing has many rules and regulations you must follow, but it is much less formal than a real court hearing. Read More...
Are you hoping that bankruptcy will wipe away all of your past debts? That is not always the case. Here are some debts you could still be stuck with, even after a bankruptcy is finalized.
Child Support
Do you currently owe child support from a previous marriage? This debt won't just go away with a bankruptcy. In fact, this is a court-imposed financial responsibility, and you will still be obligated to pay all missed payments. Read More...
When you have way too many bills and debts and not enough income, it typically does not take long to start falling behind on your payments. If you are in this position and have no money left after paying your bills, you could look into bankruptcy. Chapter 7 bankruptcy is one option you have, and here are three ways it offers relief to people in your situation.
It Erases Debts Read More...
The bankruptcy filing process requires a lot of planning, with certain actions that you take impacting the case. If you want to have a good chance at having your bankruptcy filing approved, you'll need to do these two things.
Take a Means Test
There are laws in place that are designed to prevent people from using bankruptcy if they do not need it. This is done through means testing, which compares how much you make to other people that live in your state. Read More...