Filing for bankruptcy may help credit-card debt [Derived headline]MYERS, DAVID W
Keep your checking and/or savings account at the same bank you have a personal loan with. Even if you have not filed for bankruptcy, the bank may take money from your accounts to cover your loan if you are behind on the payments. This is known as the right of setoff, and no notice...
He had in June informed Spirit shareholders that the company was not considering filing for bankruptcy protection. Some analysts on Thursday expected Spirit to work out a deal with its bondholders. "We suspect Spirit should be able to renegotiate with creditors outside of bankruptcy...
Additionally, bankruptcy will not affect all types of credit equally. For example, getting a secured credit card or car loan may still be possible after bankruptcy. However, these may come with higher interest rates. 2. Loss of Certain Assets (Chapter 7) ...
Quick Answers about Bankruptcy in Massachusetts On this site, we give you the honest, straightforward answers you're looking for about filing bankruptcy in Massachusetts. Our firm has been representing consumers and businesses in bankruptcy for more th
Chapter 7 bankruptcy, also known as a liquidation, is simpler to file and takes less time to complete. Most people file under Chapter 7 because you can wipe out most of your general unsecured debts—like credit card and medical bills—without having to pay back the money you owe through ...
(Reuters) - Discount home goods retailer Big Lots is preparing to file for bankruptcy as early as this Sunday and plans to sell its chain of stores through a court-supervised process, Bloomberg News reported on Friday, citing people familiar with the situation...
A bankruptcy can remain on your credit report for seven to ten years. “The simple definition is that bankruptcy is the filing of a petition for relief from the court by a person whose debts exceed their assets,” says Jessika Arce Graham, a bankruptcy attorney and partner with Weiss Serota...
Bankruptcy has serious consequences. A Chapter 7 bankruptcy will remain on yourcredit reportsfor 10 years, while a Chapter 13 will remain for seven years. That can make it more expensive or even impossible to borrow money, such as for a mortgage or car loan, or obtain a credit card. It ...
Chapter 7, also referred to as liquidation bankruptcy, is when the court appoints a trustee to oversee the sale of as many of debtor's assets as are needed to pay their creditors.Unsecured debt, such as credit card debt, is usually erased. However, Chapter 7 does not forgive any tax obl...