If you are facing financial difficulties and just in the process of considering bankruptcy, you are probably receiving a lot of calls from creditors. Once you officially file for bankruptcy, the creditors are legally required to stop contacting you. However, until that official declaration is made, they are free to contact you about the money...Read More

Filing bankruptcy can affect your assets in a variety of ways. It all depends on the specific asset, the amount, if any, owed on that asset, and the type of bankruptcy you choose. Cars and Homes Most people do not lose their vehicles or homes in a Chapter 7 filing of bankruptcy. You should do...Read More

Whether or not you keep your vehicle during a bankruptcy filing depends on several factors. There are ways to protect your vehicle, but it might mean making other sacrifices. The two most important factors that determine whether or not your car is protected include the type of bankruptcy you file and your current car ownership...Read More

Bankruptcy is a difficult decision, but it is the best option for many who are facing financial crisis. Bankruptcy has a negative stigma attached to it, but it can actually be a new beginning for someone who is struggling. It can end that feeling of drowning in debt and allow you to get control of...Read More

Bankruptcy is a long and complex process. Many of those who rely on taking advantage of bankruptcies have found a new wrinkle in their plans – debtors being able to shed second mortgages from their main dwelling. This sort of Chapter 7 mortgage stripping might be helpful for the consumer, but its long-term impact is...Read More

When considering bankruptcy, many debtors will opt for court protection and reorganization of debt through a Chapter 13 filing. However, many of these debtors and even some lawyers are unaware of the debt limits that may keep them from being eligible for this particular process. As of April 1, 2013, limits on the amount of...Read More

Contrary to popular belief, bankruptcy has many advantages. Such advantages include getting rid of debt that is not secured with a property, such as credit card debt, medical bills, and payday loans. With a Chapter 7 bankruptcy, one advantage is the potential to strip a second mortgage on a home. Stripping the second mortgage, or...Read More

Many people are struggling to pay their debts and for some the burden of massive debt may be too hard to bear. If that is the case then they could decide that it would be wise to declare themselves bankrupt. A number of years ago there was a huge stigma attached to being declared bankrupt...Read More

If you car is worth less than what you owe, you are paying excessive interest and that is equal to your loan servicer ‘stealing’ from you. You can cut interest rates, reduce loan balance and significantly reduce your total loan amount by cramming down your auto loan in Chapter 13 bankruptcy. A cramdown puts Chapter...Read More

A divorce can be tricky enough on its own, but it can get very complicated when it is combined with bankruptcy. If you find yourself in this situation, make sure that you contact a bankruptcy attorney who can help you sort out all of the details. There are a number of important things to consider...Read More