Chapter 7 Bankruptcy

Regardless of the reason for owing back taxes, failing to pay can lead to accrued interest, making it even harder to settle. Without a means to pay, taxpayers could lose a portion of their wages or assets through liens. Those drowning in tax debt might see bankruptcy...

In the excitement of a newlywed life, dreams of building a home and future together can overshadow the financial challenges ahead. Accumulating debts from loans taken to furnish this new life can lead to unexpected issues. This includes the possibility of facing a...

Financial burdens are overwhelming. Too much debt could overtake your life, affecting your physical and mental health. Fortunately, you could declare bankruptcy if you need to. Doing so could provide you relief, helping you restart your finances. However, filing for...

Filing bankruptcy can help you gain a fresh financial start by eliminating or reducing existing debt. It can force you to give up some control financially, but the court will not heavily watch over your expenses. Instead, the court will only use its authority to...

In these economically challenging times, filing for bankruptcy can be a smart move to help relieve you of some creditor pressure. Maybe you’re stuck with a debt or mortgage that you’re unable to pay immediately, or you’re faced with insurmountable medical costs....

Before filing for Chapter 7 bankruptcy, you should consider how it will impact you in the future. A Chapter 7 bankruptcy can help you pay off your obligations and start over financially. However, your credit score will take a hit, and obtaining a mortgage to purchase...

When general creditors attempt to collect and fail, they can sue the debtor. If a court rules in favor of the creditor, the court may force your employer to withhold as much as 25% of your net monthly salary. This is a wage garnishment order. It is a devastating way...

Chapter 7 bankruptcy is common in the United States. It is a straightforward way to liquidate your assets and pay off your debts. However, you only need to turn over part of your property for this type of bankruptcy. Chapter 7 has exemptions that allow you to keep the...

Most people believe that once they meet the eligibility requirements and file the paperwork, nothing can interfere with a chapter 7 bankruptcy. Unfortunately, nothing guarantees that all bankruptcies proceed as planned. It serves your interests to learn about the...

Filing for Chapter 7 bankruptcy is a powerful and immediate solution to debt problems. The same day that you file, you have the protection of an automatic stay. Creditors will no longer be able to call you, and you won't have to worry about a pending lawsuit brought...