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  • Bankruptcy During Your Golden Years

    It might be somewhat ironic that advances in medical science have contributed to living longer but have caused higher medical costs while doing so. Medical bills are but one issue senior citizens face as they move away from their income-earning years and into retirement. The cost of housing, groceries, and utilities also continue to rise and affect those that have insufficient means of adjusting their earnings. If you are on a fixed income and financial problems are afflicting you, you might have considered taking the step of declaring bankruptcy. [Read More]

  • Understanding How The BAPCPA Affects Your Bankruptcy

    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. [Read More]

  • How Do You Qualify For Chapter 7?

    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. [Read More]

  • How To Support A Parent Through Bankruptcy

    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. [Read More]

  • Pros And Cons Of Using Chapter 7 For Debt-Relief Purposes

    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. [Read More]

  • Don't Panic: Understanding Bankruptcy Adversarial Proceedings

    The bankruptcy codes may be of little interest even to those who are actively involved in a federal filing, but if you encounter problems you will need to understand why. In most cases, filers breeze through a chapter 7 bankruptcy filing in a few months without incident but it does pay know about some issues like adversarial actions. Whether you are the subject of such as action, or the instigator, read on to learn about some common adversarial actions and be prepared. [Read More]

  • Thinking About Filing For Bankruptcy? 3 Things You Shouldn't Do

    If you are thinking about filing for bankruptcy, your actions are going to be carefully examined and scrutinized by the courts. The type of debt that you have, how you accumulated that debt, and why you have that debt will be examined. That is why you need to be careful about your actions in the months leading up to filing for bankruptcy. Don't Pay Off Any Creditors It may feel like the opposite of what you should do, but if you think that you want to file for bankruptcy, you should not pay off one of your creditors. [Read More]

  • Big Debt In A Small Town: How To Get Through Bankruptcy Without Everyone Knowing

    While the stigma of bankruptcy may stain your credit report for a few years, what might make you feel even worse is if everyone who knows you finds out about your financial predicament, especially if you live in a small town. As you face your financial hardship, keep in mind the following ways in which you might be able to keep your personal woes from becoming public knowledge. 1. Notify Your Bankruptcy Lawyer That You're Trying To Keep The Ordeal Under Wraps [Read More]

  • 3 Tips When You Are Considering Debt Consolidation

    When you are drowning in debt, consolidating your debt might make it easier to pay all your creditors at a lower rate than paying them individually. Before you make the decision to consolidate your debt, you need to make sure it is the best decision for your situation. Speak With A Lawyer It is important to speak with a debt consolidation attorney service about your current situation and not deal with creditors on your own, which could make the situation worse. [Read More]

  • What Should You Expect At A Chapter 7 Meeting Of Creditors?

    Many Chapter 7 bankruptcy filers feel anxious about attending the meeting of creditors, but it's usually a quick, easy appointment. Your bankruptcy trustee holds this meeting, which is formally known as the 341 meeting of creditors, to give creditors a chance to reaffirm debts or argue against your discharge. This may sound intimidating, but creditors rarely show up for this meeting. Every conference is tailored to your unique financial situation, but here are some things that might happen during your Chapter 7 meeting of creditors. [Read More]