Some people call Chapter 7 bankruptcy liquidation bankruptcy. This name comes from the potential requirements to sell off or liquidate assets. The trustee overseeing the bankruptcy filing may require the liquidation of certain assets to repay creditors before the...
There are multiple different types of bankruptcy available. Individuals filing for bankruptcy typically choose between Chapter 7 and Chapter 13 proceedings. Business owners may have more options. Chapter 12 bankruptcy is available to agricultural professionals and...
The realization that you have more bills than money can be challenging and stressful. If there’s not a way to overcome the differences, you’ll need to figure out how to address the matter. One option is to file for bankruptcy. When you owe money, creditors may opt to...
There’s nothing more personal than the place you call home. It’s where your memories live, your family gathers and your sense of stability begins. When the threat of foreclosure starts looming, it can feel like the ground is shifting beneath you. Financial stress,...
While bankruptcy is not something you should rush into, holding off too long does not make sense either. One thing that could suffer if you do is your relationship with your spouse, if you have one. Surveys have shown that debt is one of the most commonly cited...
If you’re married and drowning in debt, it’s only natural to wonder how bankruptcy might affect your spouse, especially if you’re thinking about filing alone. The idea of bringing more stress into your marriage can be scary. Fortunately, your spouse’s finances and...
As a business owner, you may find your debt levels becoming unsustainable. You have started looking into your options and decided that you may need to declare bankruptcy. It is unclear if the debt can be addressed in any other manner. However, you are hesitant to do...
Filing for Chapter 7 bankruptcy can feel overwhelming, especially when you’re worried about losing the things that matter most. One of the biggest concerns for many people is whether they can keep their homes. The good news is that filing for bankruptcy doesn’t always...
Deciding to file for bankruptcy is deeply personal. But for many Americans, it’s the light at the end of the tunnel and the opportunity for a financial fresh start. However, if you’re unsure of what you’re doing or the bankruptcy process, you could make errors,...
Many people are wary of filing for bankruptcy. They will hold off filing even if they know there is no realistic chance of meeting their debt payments. Often, the reason behind this is a lack of information. They have little idea of how bankruptcy will work or how big...