Two Options For Avoiding Bankruptcy
14 March 2016
If your debts have exceeded your income and you're overwhelmed by the outstanding balances, you may find yourself considering bankruptcy as a way to ease your financial demands. Bankruptcy filing is a serious decision, and one that comes with some long-lasting effects, including a negative effect on your credit score. The good news is that bankruptcy isn't your only option for gaining control of your expenses. If you're looking to avoid bankruptcy, here are a few other things you can do.
Learn How Bankruptcy Can Help Your Situation
5 February 2016
If you have been getting a lot of phone calls, letters and emails from creditors then you already know how stressful this can be. However, the worst part of owing so much debt you can't pay off is having it affect your life in so many negative ways. As long as you have a low credit score you are going to find it hard to obtain any new credit accounts, to buy a car and definitely to get approved for a home loan.
FAQ About Timeshares And Bankruptcy
8 January 2016
A Chapter 7 bankruptcy can have an impact on every aspect of your financial life, including your timeshare. Depending on certain factors, it is possible that the trustee might decide you cannot keep it. If you have a timeshare and are thinking of filing, here is what you need to know.
Can You Use an Exemption for the Timeshare?
In a bankruptcy filing, each person is allowed to use exemptions to protect some of their assets from being seized by the trustee.
Understanding Your Bankruptcy Options
8 January 2016
If you are thinking of filing for bankruptcy, then you have two main options, Chapter 7 and Chapter 13. To help you get a better idea of which is best for you, here is an overview of each:
The basic idea of Chapter 7 bankruptcy is that your assets will be liquidated, and the proceeds will be used to pay off a portion of your debts. A trustee will be appointed by the court to oversee your case.