Challenges People Commonly Face When Preparing To File For Bankruptcy
When people decide to file for bankruptcy, most of them will experience at least one or two challenges during the process; however, some may experience even more than this. Experiencing challenges during this process is normal and expected, and your lawyer will be there to help you learn what these challenges will be and how to get through them. Here are some common challenges people face when filing for bankruptcy.
Step By Step: Keeping Your Home Through Bankruptcy
Homes are more than just bricks and sticks, and when financial conditions prompt a bankruptcy consideration, it can create fear. A chapter 7 bankruptcy filing puts all of your property at risk including your home, but you should never allow fears of a home loss to prevent you from taking a closer look at what a chapter 7 could do for you. Read on to learn how to determine the likelihood of losing your home through bankruptcy.
Is Your Small Business In Debt? Debt Consolidation Can Help
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.
3 Facts To Help You Prepare For Your Chapter 7 Bankruptcy Hearing
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.
Bankruptcy Debts That May Not Be Discharged
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.
3 Ways Chapter 7 Offers Relief
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