Understanding How The BAPCPA Affects Your Bankruptcy
20 February 2019
For those who've filed bankruptcies in the past, the rules have changed. The Bankruptcy Abuse Protection and Consumer Protection Act of 2005 (BAPCPA) marks the first major update to the federal bankruptcy code in many years. These code changes affect several large areas of requirements for filing, so read on to find out how the BAPCPA might influence your bankruptcy.
Protection for Creditors and Consumers
As you might have guessed from the title of the act, the code changes are meant to serve both consumers and those who the consumers owe money to.
How Do You Qualify For Chapter 7?
17 December 2018
When you face loads of debts you cannot repay, you could always turn to bankruptcy for help. There are two options with bankruptcy, but many people prefer Chapter 7, as it is faster and offers forgiveness of qualifying debts. If you are interested in learning more about the requirements for Chapter 7, here are a few of them you should understand.
Your Income Plays a Huge Role in Qualifying
One of the most important aspects of qualifying for Chapter 7 is the amount of money you earn.
How To Support A Parent Through Bankruptcy
20 November 2018
As you become an adult, a new type of relationship is likely to develop between you and your parents. Once you become an adult, you will understand adult situations that affect your parents, both previously and in the future. If your parents have hit hard times and now have financial problems, it is common to want to help them in any way. Sometimes a poor financial status can be aided best by filing for bankruptcy.
Pros And Cons Of Using Chapter 7 For Debt-Relief Purposes
10 October 2018
Many people end up with financial problems, but most of these individuals will look into all other types of debt-relief programs before turning to bankruptcy. People look for alternatives, simply because there are a lot of options to choose from and because bankruptcy has some negative effects. Chapter 7 bankruptcy also offers a lot of benefits too, though. If you are in a situation where you cannot pay your debts off and are now having trouble paying your regular bills, you should examine both the pros and cons of using Chapter 7 bankruptcy for help with your debt problems.