If you are unable to pay a debt, the course of last resort for a creditor is to garnish your wages, meaning money is taken out of each paycheck and given to creditors. It is possible for you to stop wage garnishment.
When filing for bankruptcy, there is a way to get rid of a mortgage loan. There are two types of bankruptcy; Chapter 7 and Chapter 13 that take into account different types of mortgage debt. What is a mortgage? A mortgage is a loan; it is a legal agreement signed through a bank or other […]
The bankruptcy process is demanding and emotional. Bankruptcy is designed to provide a new start, but keep in mind that the process is complicated. What follows are the top five things to do before filing for bankruptcy. These guidelines will make the process smoother and less stressful.
Most of us want to pay our bills. We were raised that way. As a result, too many people use up all of their financial resources before even considering filing for medical bankruptcy. Their intentions are good, but cashing out credit cards, retirement funds, college savings, or taking out a second mortgage to pay medical […]
While corporations and partnerships require an attorney’s representation to file bankruptcy, individuals may represent themselves in court. This is not recommended, however; in fact, it could result in your petition being denied or delayed. You could lose the right to file another case, or lose protections like the automatic stay. There are permanent consequences to […]
First: Bankruptcy Will Stay On Your Credit Report For 7 To 10 Years Bankruptcy is not the end of the world. Life goes on, and you get a fresh start on your financial situation. However, be aware that a bankruptcy will remain on your credit report for some years. A Chapter 7 bankruptcy will stay […]