By this I mean that you are now a slave to creditors because your debt level is beyond what your income can handle comfortably such that there is every month you have no savings. Let’s discuss the pros and cons of filing for bankruptcy for the following ...
In order to determine which bankruptcy filing might be right for you, ask yourself these questions. Are you trying to get rid of your debts? Are you trying to save your home or other assests? Are you an individual or married couple?
What is bankruptcy? What’s the difference between chapter 7 and chapter 13 bankruptcy filings? Which “chapter” might be a better option for me? Are there any debts that bankruptcy won’t discharge? Can I lose my home if I file for bankruptcy? What are the pros and cons of filing for...
In Chapter 11, the business or individual filing for bankruptcy has the first chance to propose a reorganization plan. These plans may include downsizing business operations to reduce expenses, as well as renegotiating debts. In some cases, plans will involveliquidatingall assets to repay creditors....
What’s the difference between chapter 7 and chapter 13 bankruptcy filings? Which “chapter” might be a better option for me? Are there any debts that bankruptcy won’t discharge? Can I lose my home if I file for bankruptcy? What are the pros and cons of filing for bankruptcy? The bot...
Chapter 11 Bankruptcy Information Also known as reorganization bankruptcy, chapter 11 bankruptcy is most often used by larger businesses that are in financial trouble. Filing chapter 11 bankruptcy is not considered feasible for individual consumers, as the process is much too intricate and expensive to...
it does not cover every type of debt, and it has some downsides to keep in mind, including the long-term impact on your credit score. Weigh all your options as well as the pros and cons of filing for bankruptcy before you take action, and consider consulting with a professional financial...
What’s the difference between chapter 7 and chapter 13 bankruptcy filings? Which “chapter” might be a better option for me? Are there any debts that bankruptcy won’t discharge? Can I lose my home if I file for bankruptcy? What are the pros and cons of filing for bankruptcy? The bot...