Do you have to fully repay your debts in a Chapter 13 bankruptcy?
There are several different kinds of personal bankruptcy available. If you own significant personal property or have an above-average income, then Chapter 7 or liquidation bankruptcy may not be the best option for you. Chapter 7 bankruptcy would require that you sell off some of your assets to discharge your debts, and there are strict
New bill could help Alabama residents crush student loan debt
Going to college represents a step on the ladder to a lucrative corporate career or becoming a business owner for many Alabama residents. They felt that taking out student loans to complete their education was the right move because they expected to find a well-paying job after graduating. Unfortunately, life does not always work out
Getting a handle on your alarmingly steep credit card balances
Just about everybody has experienced that sinking feeling of dread when their credit card bill comes in the mail and you finally have to confront it. Your balance is like a noxious weed growing in the backyard. One day. it’s manageable, and before you know it, it’s several feet tall and growing unstoppably. The mere
Can creditors stop a discharge of your debts in bankruptcy?
Some people’s debts reach such a high level that they can’t envision paying them off within a reasonable amount of time, if ever. Those who find themselves in that situation often have to endure non-stop calls from creditors. Foreclosure proceedings, repossessions and other aggressive collection efforts may get underway as well. Debt collectors are legally
You have to act quickly to protect a vehicle from repossession
Financing a vehicle purchase is a common practice. Most Americans don’t have enough in their savings accounts to simply buy a new vehicle after a car accident or when their older vehicle develops mechanical issues. Many people trade in their existing vehicle and finance the purchase of their next vehicle. Accessible financing means you won’t
The relationship between health, debt and bankruptcy
Sometimes we find ourselves in a negative downward spiral. Financial problems can lead to health problems, and health problems can then lead to more financial problems. Every situation is unique, but bankruptcy has been a solution that has brought financial relief for many caught in this situation. A study by the National Institute for Health
Is it possible to discharge your tax debt if you file for bankruptcy?
Any number of things can contribute to overwhelming debt that leads people to file for bankruptcy. Medical bills are often a factor. So are credit card bills, student loans and just the cost of living exceeding income. What if part of the reason you’re underwater is tax debt? Can tax debt be discharged in bankruptcy?
How do you know it is time to declare bankruptcy?
You’ve done everything you can to repay your debts — but it hasn’t worked. You’ve crunched the numbers and you don’t see how you’ll ever climb out of your debt. Just the same, you’re worried about the effect bankruptcy will have on your credit and your future, so how do you decide if it’s time
Could Chapter 13 bankruptcy save the family home?
They say, “Home is where your heart is.” What if your heart leaps every time there is a knock at the door? Do you consistently check the caller ID before answering the phone? Are you avoiding the mailbox, which is now stuffed to overflowing will bills and notices? Spending sleepless nights in fear of losing
What happens if you start Chapter 13 bankruptcy and lose your job?
If you have made the difficult decision to start a Chapter 13 bankruptcy, you’re not alone. There are many people who elect to go into bankruptcy to get back to a place of financial security, to get their debts on a monthly payment plan they can afford and to have some debts discharged. Since Chapter