Bankruptcy is a means to relieve you from the oppression of unpaid debts. However, bankruptcy isn’t always a good idea. There are some instances when filing a Chapter 7 bankruptcy may be a bad idea under certain circumstances. It is a bad idea if your debts are not unsecured. Filing for bankruptcy may be okay […]
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Chapter 7 vs Chapter 13 Bankruptcy
No one enjoys filing for bankruptcy, but if you have to file, it will usually be through chapter 7 or chapter 13. But what is the difference? Let’s take a look.Chapter 7 BankruptcyThis method of bankruptcy is the one most people are familiar with, this involves completely wiping out your unsecured debt such as credit […]
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The first problem with buying a car right after filing a chapter 7 bankruptcy, is that your debts are still not officially eliminated. The one way you may be able to buy a car is once you receive your bankruptcy discharge notification. Now there are a number of factors that go into buying a car […]
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Rising Costs, Lower Income – Reasons to File Bankruptcy
If you had to see the political debates this week, both parties spoke of income disparity. Many of our fellow Americans live at or near the poverty line. 36 percent have no savings for an emergency. Another 32 percent have less than 10 thousand dollars in savings. That equates to 68 percent of the population […]
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