Filing for bankruptcy may help credit-card debt [Derived headline]MYERS, DAVID W
You have probably already paid back your credit card debt through payments which the credit card companies chose to label as “interest” and “penalties.” The credit card companies are equally responsible for your bankruptcy. When you first encountered financial trouble, these creditors probably did...
By doing so, you can restructure or wipe out your debts, making it easier to start fresh without high-rate credit card debt (or certain other types) weighing you down. While filing for bankruptcy is a drastic option, it's not uncommon. The latest statistics show that bankruptcy filings ...
Filing for bankruptcy has a bad reputation in many circles due to the fact that itdamages your creditand involves discharging debts that will likely never be repaid. Sure,Chapter 7 bankruptcyisn’t great for your credit score and will appear as a public record for 10 years after filing. Howe...
The advantages of bankruptcy are usually obvious. When it comes down to it, bankruptcy is sometimes the only thing that can provide significant relief from burdensome debt. Discharging or substantially reducing credit card and other debt can radically improve your finances and quality of life. If ...
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 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 ...
on credit card debtuntil the funds run out. Your 401k is a protected asset and you get to keep all of it when you file Chapter 7 in 99.99 percent of the cases. It is frustrating to see people fruitlessly lose their retirement funds in an effort to avoid a clearly inevitable bankruptcy...
Accruing more debt before you file for Florida bankruptcy.Some people figure since a specific credit card debt is going to be discharged in bankruptcy anyhow, why not charge a few hundred more dollars of “stuff” before filing? This is known as fraud and can keep you from being able to ...
Bankruptcy Lawyer Memphis, TN Arthur Ray Law Offices FREQUENTLY ASKED QUESTIONS Why File For Chapter 7 Bankruptcy? https://youtu.be/qp6CXG0La-w A Chapter 7 may wipe out all your debts (with certain exceptions), but you may not be able to keep your house,