There are many people out there who may be confused by the difference between Chapter 7 and Chapter 13 bankruptcy. First, both of these types of bankruptcies can be very useful to people who are looking to reorganize their finances and get to a healthier place financially. Chapter 7 bankruptcy is seen as the more traditional filing and one of the most…
The decision as to whether an individual could file for a nearly complete discharge of debts by filing for Chapter 7 bankruptcy up until 2005 was a decision made by a bankruptcy judge. At that time, if he or she decided that a debtor wouldn’t be able to repay his or her debts, then he or she would allow the…
You have finally come to the decision to file for bankruptcy. You undoubtedly had a difficult journey reaching this point, but you may now feel a sense of relief knowing that you have a direction to go that can help you get back on financial track. Of course, bankruptcy has many facets that you may not entirely understand. In particular,…
There are many benefits of filing for Chapter 7 bankruptcy, including the ability to eliminate some (or all) of the debt that has been dragging you down. If the time comes to strongly consider Chapter 7 bankruptcy, don’t proceed until you realize what type of debt can be discharged. You should never assume that all your debt will be eliminated,…
Even though you do everything you can to keep your financial head above water, there could come a point when you have no choice but to file for Chapter 7 bankruptcy. Before you make this important decision, it’s first important to review your situation to better understand your options. Here are some of the many reasons why Chapter 7 bankruptcy…
Are you one of many Ohio residents who cringe whenever someone mentions bankruptcy? It’s definitely a term that has been attached to some very negative stigmas. In recent years, however, that has changed, as more and more people (perhaps including you) have come full circle to realize that bankruptcy is often a viable choice in light of serious financial problems.…
Despite the many benefits of Chapter 7 bankruptcy, you don’t want to push forward until you’re familiar with both the pros and cons. If you’ve yet to consider the drawbacks of Chapter 7 bankruptcy, it’s best to learn more before you take action. Neglecting to do so could lead to disappointment in the future, and that’s not something you need…
From a financial perspective, you hope you never have to learn more about Chapter 7 bankruptcy. If you find yourself in this position, there’s a good chance you’re bogged down with debt and have yet to find a way out. At some point, don’t be surprised if you realize that filing for Chapter 7 bankruptcy will help you reach your…
Juggling finances can be tricky at best and overwhelmingly stressful if your money train derails. That said, you’d be hard-pressed to find anyone in Ohio or the nation, for that matter, who hasn’t experienced financial struggles at some point in life. The most critical issue is how aware of your options you are when financial problems hit and also how…
Homeowners considering a Chapter 7 bankruptcy probably have understandable concerns about whether or not they can keep their home through to the side of the procedure. In many cases, homeowners do not need to forfeit their homes in order to create a fresh financial start, but it is never wise to assume this is the case. If you hope to…