Filing Chapter 7 bankruptcy may provide you with the relief from your debt that you have been seeking. If you qualify for Chapter 7, a trustee will gather and sell your nonexempt assets to pay off your creditors through a process called liquidation. Like other...
There are many myths associated with declaring bankruptcy, and the myth of losing literally everything is one of the most pervasive associated with filing Chapter 7. It is important to realize that, no, you will not lose everything you own if you choose this...
The public debate about the broken healthcare and medical insurance system rages on, and will likely continue into the foreseeable future. And now, people who are already struggling to survive under the burden of hospital bills are facing an ironic crisis: lawsuits...
The law includes some assets of the debtor in the bankruptcy estate. According to Bankruptcy In Brief, the bankruptcy laws provide a laundry list of the types of assets that come into the estate. Generally, it is all assets of the debtor acquired prior to the filing...
For many people, tax time is a good time because they get back a healthy return that puts some extra money into their pockets. If you are currently in bankruptcy, though, it may affect your taxes and your refund. Keep in mind that the bankruptcy court has control over...
When individuals are deciding to undertake the process of bankruptcy, it is important to plan carefully. Bankruptcy offers many advantages, and the main one is a fresh start. However, there are multiple ways to go about organizing your future financial life with a...
For some people, the decision to file for bankruptcy is a simple one and there is little doubt that doing so is in their best interests. Moreover, some people have a relatively straightforward experience and successfully move through the process without significant...
Often, it is not living expenses such as housing and transportation that lead to overwhelming debt. People may be able to afford these, but an accident or illness may lead to medical expenses that are impossible to repay. According to a report from...
When Texas residents fall into debt, bankruptcy is a good tool to pull yourself back out. The two types of bankruptcy most often discussed are Chapter 7 and Chapter 13. Chapter 13 is our focus today. What are the benefits? What are the drawbacks? Join us as we lay...
People saddled with debt may fear the stigma associated with bankruptcy and turn to other ways to find freedom from their financial troubles. Sometimes they turn to companies who claim they can work things out with creditors. However, debt settlement companies may...