Browsing: Bankruptcy

Filing for bankruptcy can be a helpful way to get out from under-debt and stop creditors from garnishing your wages or contacting you. In many cases, unsecured debts like personal loans and credit cards can be cleared by a court order. This can provide relief and a fresh start financially. After you file for Chapter 7 bankruptcy, it is important to be mindful of your spending. Although some expenses may seem frivolous, they could jeopardize your case and leave you struggling to stay on top of your debt payments. It is best to avoid large purchases and running up credit…

When you’re in debt, it can feel like there’s no way out. But bankruptcy is not your only option. There are other ways to get your finances under control. Filing for bankruptcy can be overwhelming and scary. It is essential to know that you are not alone and that options are available. While bankruptcy may be one way to address your debt, it is not the only solution. You may be able to consolidate your debt or reduce your expenses to avoid filing for bankruptcy. Types of Bankruptcy Bankruptcies can be broadly classified into two categories, each of which may…

Bankruptcy can be scary, but it doesn’t have to be your last resort. There are laws in place to protect you and your creditors, so you can get back on your feet. With a little help, you can make a fresh start. Bankruptcy can be a difficult process, but it is designed to help people and businesses get a fresh start. Although you may have to give up some of your assets, all of them will be measured and evaluated to determine how they can be used to repay part of the outstanding debt. What creditors can take in a…

Filing for bankruptcy can be a costly endeavor. Chapter 13 bankruptcy, the most common form for individuals, typically costs more than $300 to file. An attorney may ask for this money upfront to file your paperwork. However, there are cases where the paperwork is not submitted for various reasons. This is known as an unfiled bankruptcy. You might be wondering whether you can get a refund on an advance fee you paid to a lawyer for filing Chapter 13 bankruptcy on your behalf if the lawyer never actually filed your case. It is sometimes possible to get all or part…

As the next big entrepreneur, you’ve got a plan in place ready to surprise the competition. You’ve been working for an extensively long time to create a structure that will bring the next monumental idea to the market. You’ve looked through every possible pitfall and are ready for a perfect day-one launch. Or so you might think. Research shows that 20 percent of first-year startups fail, with only half of them making it to their fifth year. What can be done to strengthen your startup’s chance of success and take a more careful approach? Here is a few startup tips…

These are unprecedented times. The pandemic and attendant government shutdowns and slowdowns have hit the economy hard, and many of us are unemployed or underemployed. Those without emergency savings have undoubtedly relied on their credit cards to make ends meet, but that lifestyle is unsustainable in the long run. What is the next step? You may have heard that burdensome credit card debt is a common reason that people file for bankruptcy, and this is true. In fact, credit card debt is among the top three reasons people file bankruptcy, along with sudden job loss and medical bills. For the…

Debt is an issue that can spiral out of control in a short period of time. The only real way to tackle rising debt is to take action. Although it can be incredibly difficult to face up to the fact that you’re in trouble, the sooner you take steps in the right direction, the better. Many of us are ostriches when it comes to our finances, but being honest and open is the first step to overcoming debt. When you start to take incisive steps, you’ll realize that there is help out there and there is a way out. There…