One of the biggest benefits of declaring bankruptcy under chapter 13 is that applicants keep their property even after filing. In addition, this option offers a more affordable repayment plan that lasts for several years. However, chapter 13 has strict requirements that debtors must meet for a successful application. So, if you’re considering this option to solve your financial woes, speak to a bankruptcy attorney to know whether you’re eligible. You may have a right to declare bankruptcy under this chapter if you meet the following criteria.…
When people who owe huge debts default on payments, they get calls and letters from creditors threatening to take legal action. Ultimately, such threats can make you have sleepless nights worrying that you might lose your belongings if you don’t get money to repay your debts. Luckily, you can stop your creditors from acquiring your assets and discharge some of your debts by filing chapter 7 bankruptcy. However, before doing so, talk to an attorney to know whether this is the right chapter for your situation.…
One of the biggest issues that come between married couples is finances. One spouse may be more financially conservative while the other spends freely and takes on debt. Perhaps both of you have let your finances get out of control. No matter the issue, it is important to get your financial house clean to avoid future conflicts. One way to do this is to file for bankruptcy. If you are married, there are some considerations to think about if you want to file for bankruptcy:…
