One of the possible consumer bankruptcy chapters that some people file when they need this protection is Chapter 13. This is known as the wage-earner's bankruptcy because debtors have to set up a repayment plan that covers some of the debts they owe. In most cases,...
Month: December 2018
Know the qualifications for a Chapter 7 bankruptcy
Sometimes, a person who is deep in debt won't have any assets or available money to pay off what they owe. Even making minimum payments is a big struggle. In these cases, a Chapter 7 bankruptcy might be in order, but only if the person can pass the means test. This is...
Higher income levels can also lead to higher levels of debt
Many people inaccurately believe that only people with low income levels struggle with debt. Nothing could be further from the truth. Individuals with low income and bad credit typically can only receive a small amount of money on credit. Even if they secure multiple...
Beware of debt relief scams
Some people try to do anything they can to avoid having to file for bankruptcy. While this is a good thing for many, it is imperative that you make sure that you have a viable option that isn't going to lead to you being scammed. There are some unscrupulous companies...
Regain control of your finances with bankruptcy
Your finances should be able to help you live the life you deserve. They shouldn't be a source of constant stress. If you never have enough money to cover your bills, it is probably time for you to make some tough choices. One of these is whether you are going to...
