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Category: Chapter 13 bankruptcy

Can bankruptcy stop foreclosure on my home?

If you are facing foreclosure on your home in 2021, you aren’t alone. The economic downturn of 2020 has led many homeowners to get behind on their mortgage payments. You now may be considering your options, hoping for a way to avoid foreclosure. Seeking bankruptcy is one option you should consider. Avoiding home foreclosure through

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How long will bankruptcy affect your credit?

When you decide to seek a bankruptcy, you know it will impact your credit. You may worry about when you can qualify for a loan again and when your credit score will begin to rebound. Yet, exactly how long will a bankruptcy affect your credit? Bankruptcy affecting credit First, if you seek a Chapter 7

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When medical expenses become overwhelming debt

Many Americans are afraid of getting sick, especially during the current global crisis. However, a recent study reiterated another fear of most Americans have with the medical care system, its unruly debt. According to Healthcareinsider.com, more than half of the respondents expressed concerns that a health problem or situation would lead the household to significant

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What should I know about Chapter 13 bankruptcy?

Deciding to seek bankruptcy protection isn’t easy. You may have tried to overcome your debt for years, but a recent hospitalization grew your debt even more. Now, you are ready to file bankruptcy but have another tough choice to make: Should you seek Chapter 7 bankruptcy or Chapter 13 bankruptcy? Chapter 13 bankruptcy basics When

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Can my salary inhibit my eligibility for bankruptcy?

Bankruptcy is usually deemed as your last resort – the only option to save you from drowning in debt. However, bankruptcy is an incredibly common option for most families and adults who are struggling with their finances. You don’t have to be in dire circumstances to apply for bankruptcy, especially if you’re concerned about a

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Am I eligible for the means test?

Most Americans doubt when bankruptcy is the right option for them, and a strong majority of those same Americans aren’t sure if they qualify for bankruptcy. Luckily, there is a way to determine eligibility for chapter 7 participants. Since 2005, most individuals have to complete the “means test” – an evaluation that takes into account

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Do you know the differences between Chapter 7 and 13 bankruptcy?

Bankruptcy is confusing and even frightening to many people. If you don’t understand how bankruptcy works, you might overlook both benefits and risks associated with filing. One of the most important decisions regarding bankruptcy that you will make, other than realizing you need bankruptcy protection, is determining what form of it bankruptcy to file. Most

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How does bankruptcy affect taxes?

While most people don’t think about tax season around the holidays, it’s critical to think ahead and start thinking about how your decisions may influence your financial future, including the 2021 tax season. For most people dealing with financial woes, the last thing they want to think about is sharing their income with the government,

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Which chapter of bankruptcy should I select?

You may be on track for filing for bankruptcy. You know you are ready for a new start and to repay your debts, but you may not know what chapter to select during the process. It’s critical to choose the correct chapter in order to reap the most benefits for your situation. There are two

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Three last-minute tactics to prevent foreclosure

You may be behind on your home payments, and you’re almost at the point where you feel like there is no way out of foreclosure. It’s an overwhelming and terrifying thought for most homeowners. No one wants to face losing their home. But there are some last-minute strategies you can try before allowing the foreclosure

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