By Jeff Field | Published October 31, 2023 | Posted in Bankruptcy | Tagged Tags: chapter 7, liquidation bankruptcy, rebuilding credit | Leave a comment
A Chapter 7 bankruptcy can be an effective remedy for people who are struggling with overwhelming debt. A bankruptcy filing initially hurts your credit score, but once you’ve received your discharge of debt, you can start to repair your credit score. A Chapter 7 stays on your credit report for 10 years. However, the impact Read More
Read MoreIf you are facing mortgage default or foreclosure, you may be aware of mortgage relief companies that claim to provide homeowners with ways to keep their property, refinance or modify their mortgages, repair their credit or simply buy time to stave off debt problems. However, many of these options are scams that cause debtors to Read More
Read MoreBankruptcy is a legal process that allows individuals and businesses to discharge their debts. It can be a complex and daunting process, but it can be a lifesaver for those who are struggling to make ends meet. Like any court proceeding, a bankruptcy requires careful preparation. It’s equally important to avoid mistakes that can undercut Read More
Read MoreIf you are having trouble paying your creditors, you might consider either debt consolidation or bankruptcy. One of these remedies makes use of the court and lawyers (bankruptcy), while the other is entirely private (debt consolidation). The goal is the same, but the paths are distinct. Debt consolidation creates one new loan (or line of Read More
Read MoreA Chapter 13 bankruptcy may allow you to eliminate a sizable portion of your outstanding debt. In some cases you pay off a relatively small amount of unsecured debts, with the remainder being discharged. However, tax debts are generally not eligible for reduction and discharge. With a few exceptions, they must be paid in full. Read More
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