Bankruptcy is not only a huge financial set back but also an emotional one. The first thing you need to keep in mind while getting back on track both financially and emotional is that people make mistakes. You are not the first, nor will you be the last person to file bankruptcy.
Now, it’s time you get up, brush yourself off and start picking up the pieces. Keep your chin up and it helps to surround yourself with people who understand, are emotionally supportive and that are nonjudgmental.
Clark & Washington has five tips to share with you, to help you achieve a healthier financial situation after your bankruptcy and get you back on the right financial path.
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When it comes to filing for bankruptcy, a common concern is the possibility of having to give up one’s home. If you’re concerned about what will happen to your home when you file for bankruptcy, here are a few tips that will help you protect your home.
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There are a lot of lawyers out there, and it can be difficult to make a choice on which is the best one to help you. Filing for bankruptcy is an emotional decision, and those feelings can easily cloud your choices at every stage of the game. You may just want to pick the one that’s cheapest, but you should also know by now that spending a little more today can save you money in the long run.
Here are five traits to look for when it comes to choosing a lawyer.
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There is technically no limit on how many times you can file for bankruptcy, but with the timing restrictions it’s definitely not a choice you can make often. Obviously no one hopes to file for bankruptcy even one time, but if the unfortunate event occurs where you’ll need to file again, Clark & Washington would like you to have the facts before you start the process.
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When you file for bankruptcy your assets and property are no longer yours to command. What happens to your home, for example, is a function of how much you owe on the unpaid mortgage as opposed to its market value. If the latter amount is greater than the former, the difference is your equity.
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Millions of people file for bankruptcy each year for various reasons. Bankruptcy is a situation in which a consumer does not have the ability to pay back his or her debts. Common reasons for bankruptcy are divorce, loss of job, family changes and disability. Two main types of bankruptcy exist for individual consumers. Chapter 13 is a chapter of bankruptcy that requires that the person pay some of the debt back. The person will have to create a repayment arrangement that the creditors will find appealing. A Chapter 7 bankruptcy is another chapter that people refer to sometimes as the liquidation chapter. Creditors and debtors can come to agreements on items that the debtor will offer to the creditors. Businesses filed chapters 10 and 11 bankruptcy. The following are some of the things that creditors are allowed to claim:
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Many people have concerns about what can happen when you file for bankruptcy. In most cases, bankruptcy is the last viable option, and you should attempt to remedy the issue in several other ways before filing. However, if bankruptcy is your only option, and you have exhausted all others, you need to consult an attorney. There are ways to keep your home if you file for bankruptcy, but you should take great care to follow all of the laws and ensure it is done correctly for the best possible results. Click here to read more »
While the Volunteer State takes pride in its leadership in a number of categories, being ranked No. 1 for this category is not a point of celebration. According to a report released by Epiq Systems Inc., residents of Tennessee are filing for debt relief via bankruptcy at a rate twice that of the rest of the nation. Click here to read more »
If you’ve been considering bankruptcy recently, you’re most likely already feeling significantly stressed, frightened and frustrated. However, most people report feeling a vast sense of relief once they’ve made a firm decision to take charge of their financial future by filing for bankruptcy protection. Although it can be difficult to know for certain whether bankruptcy is the right road for you to take, there are several signs to look out for. According to this bankruptcy firm in midtown, below are three signs it’s time: Click here to read more »
It can get very aggravating when you have a debt collector calling you several times a day. Some companies will even continue to harass you for weeks and months on end. However, there are ways to make them stop. You simply need to know a little bit about how the law works. If you have an issue with collection calls and need some professional help, contact a bankruptcy law firm in Atlanta. Click here to read more »
The decision to file bankruptcy is never an easy one. Bankruptcy creates barriers to buying a home or car and obtaining credit. You worry about how it will affect your family. After the paperwork is filed and and the process is complete, most of the hard work is done. Your focus, then, will be on avoiding the situation that caused you to file bankruptcy to begin with. The last thing you want is to worry about how bankruptcy might affect your employment. Will it affect your job? It depends. Click here to read more »
Are you buried in debt, avoiding calls from collection agencies, using credit cards to pay for necessities, or making minimum payments and getting further behind each month? While bankruptcy is not an instant or easy fix, it can often provide Tampa residents with the relief they need to get their finances under control and possibly even avoid foreclosure on their homes.
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Bankruptcy is not often a person’s first choice when it comes to resolving financial matters. Declaring bankruptcy can seem daunting but when you know and understand all the steps and that it is possible to keep your home, it can seem a little less scary.
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Is there a way to be rid of your seemingly insurmountable debt? You may not know how to pay your house payment, other bills, buy groceries, purchase medicine, avoid those debt collectors that call at all hours and you don’t want your credit ruined. There are alternatives. There are times, however, bankruptcy may be the best solution for some people. According to the Knoxville News Sentinel, Tennessee led the nation last year in bankruptcy filings per capita, even though the number, 4,137, was nine percent less than in 2013.
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College graduation is right around the corner and that means thousands of students will be getting their diplomas and walking off the stage into amazing amounts of debt. Every year the amount of student debt that people acquire continues to rise and this puts many young people in difficult situations. There are many students that end up living in squalor or even filing for bankruptcy. If you are one of the few who have chosen that second option, there are things you need to know and people who can help you get the answers that you need.
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Atlanta has been a tough place to live for the past few years since the economic downturn. Despite its size and number of Fortune 500 companies, this city has been the victim of some serious economic problems. With a unemployment rate two percent higher than the national unemployment rate, a higher tax rate, and slower job growth, you may be beginning to wonder how you are going to protect your home from foreclosure and gain control of your debt. If you’re unable to find the money to stay financially afloat, or have had the ability and means to control your debt taken away from you, the best way to gain control of your debt will be to file for Chapter 13 bankruptcy.
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