How Not To Panic When It's Time For Your Creditor's Meeting


If you thought the decision to actually file for bankruptcy was tough, you may be in for a surprise when you find out that you must attend something called a creditor's meeting. It's quite natural to be alarmed at the thought of having to personally meet with the representatives of the various credit cards that you included on your bankruptcy, but that is not exactly what this meeting is about. To clear the air about the creditor's meeting, read on—and don't panic.

17 January 2017

How To Avoid Losing Your Home To A Foreclosure


If you have found yourself financially struggling, you will want to make sure that you are doing what you can to save your home if you have fallen behind on the mortgage payments. To help you avoid losing your home to a foreclosure, you may want to consider the following tips. File For Bankruptcy Filing a chapter 13 bankruptcy may allow you to keep your home while you catch up on your late payments on the mortgage, as well as your other debts, through a payment planned that is approved by the courts.

29 June 2016

Four Things Not To Do Before Declaring Bankruptcy


If some unfortunate financial issues have led you to consider filing for bankruptcy, you should understand that your actions prior to filing could impact your ability to have a timely and uneventful chapter 7 filing. If your financial plans include any of the four following transactions, you may need to delay filing for bankruptcy. Read on to learn more about these four things not to do before declaring bankruptcy. 1. Charging Luxury Items

13 January 2016

Is Bankruptcy Right For You?


Bankruptcy is a popular option for debt relief. However, it is not the right choice for everyone. To help you determine whether or not bankruptcy can solve your problems, here are some points to consider: Two Types of Bankruptcy The first thing you need to know about bankruptcy is that there are two main types that you have access to: Chapter 7 and Chapter 13. Chapter 7, also known as liquidation, involves the sale of your possessions to pay your debt back, which usually takes less than a year.

13 August 2015

Chapter 7 Or Chapter 13: Choose The Right Type Of Bankruptcy For You


If you are unable to pay your bills, have too much debt or are in danger of loosing your property to foreclosure, bankruptcy may be the right choice. There are several types of bankruptcy, but chapters 7 and 13 are the most commonly known and used by individual filers. Both types of bankruptcy can be beneficial, but they are very different in the way your debt and property is handled. If you are trying to decide which one might be best for you, read on for the main differences in chapter 7 and chapter 13 bankruptcy.

26 June 2015

Bankruptcy And Financial Education Classes


If you are considering filing for chapter 7 bankruptcy, you must complete two educational programs. One program must be complete before you file, the other must be completed prior to your discharge. Read on for more information about these requirements so that you'll be prepared for filing for chapter 7 bankruptcy. In 2005, President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The BAPCPA sought to, among other things, make consumers more accountable for their actions leading to bankruptcy filing.

24 June 2015

3 Questions About Filing For Bankruptcy


Filing for bankruptcy is a decision that should not be taken lightly. While it will give you a very desirable blank slate for starting over financially, it will leave a huge impact on your credit rating for several years. These are three questions that you may have about filing for bankruptcy. What Debts Are Not Included When Filing For Bankruptcy? Many people are surprised to find out that there are some debts that will never go away when filing for bankruptcy.

29 April 2015