Many people refer to Chapter 13 bankruptcy as a wage earner’s plan. The person filing for bankruptcy is not subject to the same strict income limits as people pursuing Chapter 7 bankruptcy. Filers also do not risk the liquidation of their property as part of the...
Like many people in the United States these days, you may have come to rely on your credit card for many things. If you know you need to file for bankruptcy, you may be concerned about whether you will ever be able to get a credit card again. While it will depend on...
You are worried that your house is going to go into foreclosure. You are well aware that you have missed at least one mortgage payment. The lender has been asking for payment, and you know that they could start the foreclosure proceedings if you repeatedly miss paying...
Filing for bankruptcy can be an emotional experience for parents, and many – very understandably – struggle with whether and how to talk to their children about their situation. Bankruptcy can affect a family's routines, housing and lifestyle, depending on...
Bankruptcy can be very helpful, but many people worry about the impact of seeking financial relief. They know that bankruptcy can force the closure of their revolving lines of credit. They may also be worried about their eligibility for credit in the future. For many...
Having someone cosign for a car loan is sometimes the only way people can get one. One example is a young driver having a family member cosign because they have not yet built sufficient credit history to get a loan on their own. Things can happen, however, that make...
Financial hardship can happen quickly due to job loss, medical expenses or unexpected life events. When debt becomes overwhelming, many people look for structured relief options that offer a fresh start. Chapter 7 bankruptcy is one of the most common forms of consumer...
Chapter 7 bankruptcy is one of the fastest and most effective ways to address overwhelming debt. Individuals who qualify for Chapter 7 filings can go from submitting paperwork to the courts to a discharge of eligible debts in a matter of months. Chapter 7 bankruptcy...
Mortgages are large loans. They frequently involve 30-year repayment schedules and six figures or more of initial funding provided by the lender. To minimize the risk involved, mortgage lenders record the loan with the county so that they can treat the property as...
If you are facing debt in Florida, understanding the two types of loans is paramount. The difference between secured and unsecured debts impacts your risk, payment terms and options under bankruptcy. Collateral as the key distinction Secured debts involve collateral....
