Bankruptcy is often the last option that someone who is struggling financially considers. They may explore every viable alternative before bankruptcy becomes something they want to consider. Yet, when people realize that they have fallen too far behind on their debts...
Bankruptcy
How long do repayment plans last during Chapter 13 bankruptcy?
Although people often think of bankruptcy as a process for those with minimal assets and income, even successful professionals may sometimes face financial hardship. One of the reasons there are different types of bankruptcy available is that people find themselves...
Why those closing a small business may file for bankruptcy
There are a variety of scenarios in which an individual may feel compelled to file for bankruptcy or business bankruptcy. An entrepreneur or business owner who has come to the realization that either restructuring their debt or closing down a business is likely their...
What is the automatic stay granted during bankruptcy?
People who choose to file for bankruptcy may have any number of reasons for doing so. They may have simply reached a point where their budget won't balance, and they have begun to accrue over-limit or late payment fees that make their financial circumstances even...
How bankruptcy can help those who are worried about foreclosure
People frequently commit a significant portion of their income every month toward their mortgages. Although a lot of that money goes toward interest, especially during the first few years, a portion of each payment sent to a lender will add to a family's equity in...
3 reasons successful professionals pursue Chapter 13 bankruptcy
The word bankruptcy makes many people think of financial irresponsibility or business failures. However, if you were to sit in on bankruptcy court hearings, you might realize quickly that the people filing for bankruptcy don't fit the stereotype. In fact, a...
Can filing for bankruptcy stop a wage garnishment?
Learning that you have a wage garnishment is traumatic because you count on the money that you earn to support yourself. Once you learn of this, your thoughts will likely turn to how to get it to stop so you can keep the money you need. One option that might work for...
How to protect valuable property in a bankruptcy filing
There are multiple reasons why people might pursue a Chapter 13 bankruptcy instead of a Chapter 7 personal bankruptcy. While Chapter 7 bankruptcy is the fastest option, it also leads to major losses for some people with overwhelming levels of personal debt. In a...
Will you lose your home in a Chapter 7 bankruptcy in Nevada?
The stigma associated with bankruptcy is a strong deterrent for the average person. They believe that bankruptcy is only for irresponsible people or unethical businesses trying to avoid personal responsibility for prior bad decisions. In reality, bankruptcies are...
What happens to your credit score after bankruptcy?
It is a common misunderstanding that someone who files for bankruptcy will forever have financial limitations afterward. People delay or decide against filing at all because they think that they won't be able to buy a house or even use credit cards. In reality, while...