Consumer Bankruptcy
Bankruptcy is the legal process of dealing with your debt with your creditors. Through bankruptcy, you may have your debts discharged, or you may work out a repayment plan with your creditors. Once debts are discharged through bankruptcy, creditors are no longer allowed to collect on them.
Chapter 7 Bankruptcy Overview
Chapter 7 bankruptcy is a bankruptcy available for consumers and businesses that allows creditors to be repaid through liquidation of certain property. If there is no property, creditors are not paid and the debts are discharged.
Chapter 7 bankruptcy is a bankruptcy available for consumers and businesses that allows creditors to be repaid through liquidation of certain property. If there is no property, creditors are not paid and the debts are discharged.
Ways to Avoid Bankruptcy
Debt is a way of life for many consumers. It can be so overwhelming that bankruptcy seems to be the only answer. Because bankruptcy can have such a devastating effect on your credit score, it’s better to seek other alternatives before filing Chapter 7 or Chapter 13 bankruptcy. If another solution saves…
Debt is a way of life for many consumers. It can be so overwhelming that bankruptcy seems to be the only answer. Because bankruptcy can have such a devastating effect on your credit score, it’s better to seek other alternatives before filing Chapter 7 or Chapter 13 bankruptcy. If another solution saves…
2007 Bankruptcy Filings By State
Bankruptcy filings for 2007 ranked by state. Find out bankruptcy statistics for your state.
Bankruptcy filings for 2007 ranked by state. Find out bankruptcy statistics for your state.
The Basic Types of Bankruptcy
The two major types of bankruptcy for consumers are Chapter 7 and Chapter 13. Chapter 7 allows you to discharge debt after some assets have been liquidated. Chapter 13 allows you to discharge debt after completing a payment plan.
The two major types of bankruptcy for consumers are Chapter 7 and Chapter 13. Chapter 7 allows you to discharge debt after some assets have been liquidated. Chapter 13 allows you to discharge debt after completing a payment plan.
Should You File Bankruptcy?
There’s a stigma against bankruptcy and for good reason. It devastates your credit and cripples your borrowing abilty. Even though bankruptcy will fall off your credit report after 7- 10 years, most loan applications ask if you’ve ever filed. If you say “no,” when the truth is “yes,” you’re guilty of fraud and can be prosecuted.
There’s a stigma against bankruptcy and for good reason. It devastates your credit and cripples your borrowing abilty. Even though bankruptcy will fall off your credit report after 7- 10 years, most loan applications ask if you’ve ever filed. If you say “no,” when the truth is “yes,” you’re guilty of fraud and can be prosecuted.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 introduced major changes to the way consumers filed bankruptcy.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 introduced major changes to the way consumers filed bankruptcy.