What Is Chapter 7 Bankruptcy?
A Chapter 7 Bankruptcy, often called a “liquidation” bankruptcy is for people who will never be able to pay back their debts and need an entirely fresh start from burdensome debts. A Chapter 7 discharge eliminates most unsecured debts entirely and is often the best option for people without the disposable income to make a […]
Options for A Car with An Outstanding Loan In A Chapter 7 Bankruptcy
Many people considering Chapter 7 bankruptcy express concerns about what will happen to their car if it has an outstanding loan. Some people want to keep their car. In a Chapter 7 bankruptcy, there are three options in how to deal with a car with a loan on it: (1) redeem the car for its […]
Access to Credit After A Chapter 7 Bankruptcy
A clean financial slate means after your bankruptcy discharge, you can rebuild your credit and increase your credit score.The few who have been able to maintain their monthly payments and keep their credit score high will see an initial drop in their credit score, but this is usually only temporary.In time, a Chapter 7 bankruptcy […]
Debt Consolidation Pros & Cons
Consumer debt in this country has soared to $13.86 trillion, according to the New York Federal Reserve, an all-time high. If you’re having a hard time servicing your debt, you’re not the only one. Many people would like to know if debt consolidation is a better idea than bankruptcy. I know some people who have […]