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Medical expenses are rapidly increasing in the United States. With higher deductibles that are coming with insurance policies and Americans who are still without insurance, people are paying more out of their own pocket for health care than ever before.
One component of bankruptcy that many people get confused about is what can and cannot be discharged from their debts. The common misconception is that all debt is discharged and this is simply not the case. The types of debt that can be discharged have a lot to do with the type of bankruptcy. Chapter 7 bankruptcy is the type of bankruptcy that has to do with discharging debts instead of simply paying them down. Before you file Chapter 7 Atlanta, you need to know if your debts are able to be removed from your record.
Once you have filed for bankruptcy and your case has been closed, you may find yourself relieved but also scared about what comes next. Now that you have removed debt, you are still stuck with a bankruptcy on your credit and your credit score has likely gone down. It takes time to rebuild your credit but that doesn’t mean it will happen on its own. There are things you will need to do after your Atlanta bankruptcy so start rebuilding credit. Use these 7 steps to help get your credit back on track.
Many people are scared of the word “bankruptcy” but it can actually be something that can change your entire life around. There are many different reasons that people choose to file for bankruptcy and it is not something to be ashamed of. These are some of the most common reasons people choose to file for bankruptcy that we have come across.
Depending on your Chapter 13 bankruptcy arrangements, you may find yourself without a car or, during your years of repayment, you may need a new car. … which often means a new car loan. Because a vehicle is often required for work or family purposes, you will have a chance to buy one if necessary. Here are the important steps in the process!
If you feel like you’re drowning financially with no hope in sight, then bankruptcy may be the solution, but what are the rules? The process is complex and overwhelming for some, which is why you hire an attorney to do most of the legwork. You can save time and money, however; by avoiding some common errors when getting ready to file.
While a Chapter 7 bankruptcy is often consider the fastest form of personal bankruptcy, that doesn’t mean it happens immediately. As the proceedings continue, you may find yourself waiting for court dates to be set, creditors to meet, paperwork to be filed, and so on. What should you do with this time on your hands? Here’s what you should know.
The decision to explore bankruptcy as a solution to serious financial problems is a difficult step to take. Sometimes our clients find themselves in a precarious financial position through no fault of their own and find that bankruptcy is the most sensible solution to their financial difficulties. Chapter 7 bankruptcy is available to individuals who meet specific income criteria.
You may have heard that a Chapter 7 bankruptcy discharges all of your debts. A discharge removes all legal responsibility of the debtor to pay the debt. A creditor may no longer seek repayment on discharged debt. While many debts can be discharged through a completed Chapter 7 bankruptcy, some debts are not eligible to be discharged.
Tax season can affect different people in different ways. For some, tax season is painless because they get a tax refund after filing. For others, it can be very stressful for a number of reasons and situations. When someone expects to get a return on their taxes and then finds they have to pay, it can be even more devastating. However, the most stressful time during tax season occurs for the people who are either in the middle of filing for bankruptcy or are seriously considering it.
When deciding on the right time to file for bankruptcy, it’s important to consider all the factors associated with such an important financial decision. Many individuals may feel they are a few steps from going under.How can you tell if bankruptcy is the best choice for you? Click here to read more »
Bankruptcy may seem like it is inevitable but there are a few strategies you can try before filing. Follow some of these steps before you decide that bankruptcy is the only option left.
Bankruptcy is not the end of the world when it comes to credit but rebuilding your credit is something you will have to actively work toward. Your credit will not rebuild itself. However, if you take the necessary steps to rebuilding credit after bankruptcy, you will see your credit score rise in no time. Click here to read more »
Living happily ever after means being realistic about finances, and open and honest about all aspects of your life together. While marrying someone who has previously declared bankruptcy does not automatically affect your own credit rating, money management will affect your future together.
Discuss with your intended the reasons that led to a bankruptcy, and the lessons he or she learned about financial affairs. Whether it was a Chapter 7 or Chapter 13 bankruptcy and what led to it can certainly have an effect on your life. Remember that a bankruptcy is reported on an individual’s credit report for a minimum of seven years. With a Chapter 13 court-mandated repayment plan, you might face an additional financial burden as a couple until the debt is repaid. Click here to read more »
You’ve overspent on your credit cards, and then you had major car repair expenses and some problems at work. The bill collectors are closing in and prospects for the future look bleak unless maybe your lottery ticket pays off. But you’ve stopped believing in miracles. All you would really like is some relief from day-to-day worries, and perhaps some additional time to pay your debts. You have a job, and some assets. For now, you have a place to live and you can still afford groceries, but you know you have to be careful, and there’s no money for fun; certainly not enough to handle another emergency. Click here to read more »
Bankruptcy carries a stigma that is unwarranted. This legal process simply allows you to get out from under onerous debt and gives you a fresh start. In many cases, the only people who know about your bankruptcy are your legal team and your immediate family. Your mail carrier may know as well, but they’ve been delivering your dunning and collections notices for years and pretty much know what’s up with every family on the block.
Deciding who to tell about your bankruptcy is up to you; people may be a lot less interested in your finances than you think, particularly if you don’t seem shamed or embarrassed by this common process.
When you are filing for a bankruptcy, it can feel like the process takes forever. While there are certain guidelines in every state that must be followed, there are ways you can help speed along your bankruptcy process. When you are in the midst of financial trouble and you want to get a bankruptcy done quickly, hiring a bankruptcy lawyer to guide you through the process is your first logical step.
Even when you are in the midst of financial troubles, it is possible for you to donate to charity. When you make a donation to a qualified non-profit organization, your donation will be tax deductible. You will save money on your taxes and you will be able to help the cause of your choice at the same time.
