Debt settlement is one of the most common forms of debt relief. Debt relief can include bankruptcy, debt settlement, and debt management, but when individuals consider debt relief, many people consider that as debt settlement. If you can’t pay a collection agency the entire amount you owe on a debt, you may want to try to negotiate […]
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Chapter 7 Bankruptcy, also known as liquidation bankruptcy, is one of the most common forms of bankruptcy in the US. It is called liquidation bankruptcy because, after filing for Chapter 7, a bankruptcy trustee will be put over all of your nonexempt assets and liquidate them to help pay off your debts. That said, many people find bankruptcy exemptions can help
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Your income may play a major role in Chapter 7 bankruptcy qualification. The exact qualification can be complex given the following reasons: So, the income limits for Chapter 7 qualification is complicated. The goal of this article is to simply for the income limits for you and provide state articles that can provide further clarity. We will
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Your income may play a major role in Chapter 7 bankruptcy qualification. The exact qualification can be complex given the following reasons: So, the income limits for Chapter 7 qualification is complicated. The goal of this article is to simply for the income limits for you and provide state articles that can provide further clarity. How Chapter
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Your increased or decreased income could affect your Chapter 13 bankruptcy. When filing a Chapter 13 bankruptcy case (not to be mistaken with Chapter 7), your household income may be considered when calculating your Chapter 13 plan payment. Most people rely on employment as their sole source of income. So, their Chapter 13 repayment plan is based on their
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We have all had times where money has felt scarce and impending payments seemed overwhelming, and bankruptcy can seem daunting. Can it provide future solvency? Let’s find out. While we can usually come out from those circumstances unscathed, there are times when we have to admit that we need help. This may be one of those times, and
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Will I lose everything if I file for bankruptcy? No, you will not lose everything if you file for bankruptcy. Bankruptcy exemptions help protect at least some property. The Founding Fathers did not envision bankruptcy as a punishment for owing more debt than you can afford to pay. They understood that good people can go
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Talking with a bankruptcy attorney can be extremely helpful if you are dealing with debt collectors. An attorney can answer some of those “what if” questions that are probably keeping you up at night. You know, questions like: We’ve found that many of our readers have waited too long to get legal advice, and made costly mistakes
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