Bankruptcy Blog Archives

Filing a Bankruptcy may improve your credit if you have bad credit. However, if you have good credit, then bankruptcy may not be the best option. Bad credit usually happens after some form of bad luck. Losing your job or a major cut in pay will change a good paying history in a very short [...]

A Chapter 7 Bankruptcy is what most people think of when you say “Bankruptcy“. This bankruptcy deals with unsecured debts. If you are behind on your house or car the chapter 7 will not help you to keep those things. The chapter 13 bankruptcy is mainly used for people that have fallen behind on their [...]

Discharge is the term for what comes after a completion of a Bankruptcy. With that comes the satisfaction of knowing what ever was discharged you will never have to pay on again an after the 7 to 10 years it will fall off your credit. Once you have your discharge this the time creditors will [...]

A Bankruptcy is a legal means of dealing with debts that for one reason or another have now become impossible to pay. If your income is still enough to maintain the car and house, and it just credit cards or other unsecured debts that is the problem then the Chapter 7 Bankruptcy can discharge those [...]

In todays time having bad credit is going to force you to pay way too much for a car and chances of owning a home is going to be impossible. Bankruptcy is better than bad credit. Things happen in our lives that we do not always have control of, Losing a job after many years, [...]

When you file a bankruptcy yes you could lose some assets. Depending on which state that you live you can use either state exemptions or federal exemptions. The exemptions are the allow-able things you can have and file a Chapter 7 Bankruptcy and those things are protected. You can always go into a Chapter 13 [...]

The filing of a Bankruptcy is a legal way of dealing with creditors, that for one reason or another that you can not continue to pay. By filing the bankruptcy yes you may lose some things but if you don’t file you might lose more things. If you have lost your job and you can [...]

A Chapter 7 Bankruptcy is used to discharge unsecured debts. Credit cards and medical bill are the most common unsecured debts. Their are several other debts that are unsecured like cars that have been reposed, apartments that you broke the lease on, cell phone contracts that you could not pay. The Chapter 7 does not [...]

A Chapter 13 Bankruptcy is used most by people that have fallen behind in their mortgage payments or fallen behind on their car. The chapter 13 will force the mortgage company to stop the foreclosure process or the repossession of your car. With the mortgage only the arrears can be put in the in the [...]

The filing of a Bankruptcy is a big decision. The thoughts of even filing a bankruptcy is never just there. The reason the thought of filing a bankruptcy is there is something has changed in you life or income. The words like Repossession or Foreclosure become every day words you are using. The phone rings [...]