Category:
Bankruptcy
Most people who file for bankruptcy because of personal debt file Chapter 7 bankruptcy, a four-to-six month process that, in theory, “liquidates” a person’s assets to pay off their unsecured…
Declaring bankruptcy is a big deal. The long-term damage it can do to your credit is such that bankruptcy only should be considered as a last resort, after credit counseling,…
Bankruptcy does not preclude anyone from buying a home, but it will take some serious work to get it done. Buying a home after bankruptcy depends on taking the right…
Early bankruptcy laws focused on punishing the debtor and repaying the creditor. Eventually, the process evolved into a method of financial rehabilitation, a “second chance” to get your finances right.…
Filing for bankruptcy may or may not offer all consumers the clearest path out of debt but one benefit might just feel like the arrival of the cavalry. Filing for…
Filing for bankruptcy is scary stuff, and scarier still if hanging onto your car is among your chief concerns. All that talk about “liquidation” is enough to put anyone on…
Bankruptcy is considered a second chance for people who can’t recover from the one-two punch of high credit card balances and punishing credit card interest rates. The average credit card…
After the unpleasantness of bankruptcy proceedings is finally over, a sobering question may arise: What if I need to buy a car? There’s good news: It’s possible, especially if the…
A person is fully entitled and permitted to file bankruptcy twice. The only rules on filing twice involve the time between filings, and that depends on several circumstances, among them…
Though there is room to debate the wisdom of filing for bankruptcy without your spouse, there is no law preventing a husband or wife from doing so. There are several…