Chapter 7 Bankruptcy

Some people’s debts reach such a high level that they can't envision paying them off within a reasonable amount of time, if ever. Those who find themselves in that situation often have to endure non-stop calls from creditors. Foreclosure proceedings, repossessions and...

One of the most irritating things when you owe money to a business is getting the calls or letters saying that you need to pay them. Your nonpayment probably isn’t because you don’t want to pay them, but rather because you can’t. When you realize that you just can’t...

When you’ve got more bills than money, those persistent calls from debt collectors can weigh on your mind. You don’t know whether to send them straight to voicemail or answer them. Both seem equally distressing. How should you handle these calls? You don’t want to...

Chapter 7 bankruptcy is also referred to as liquidation bankruptcy. As the name implies, it can require that you sell or liquidate some of your property. It's faster and more aggressive than Chapter 13 bankruptcy. Thankfully, the equity in your home, your vehicles and...

If you are drowning in insurmountable debt, it can paralyze you into complete inaction. In other words, you may be so troubled by your circumstances that you end up doing nothing to improve your situation. When you finally decide to get a handle on your debt through a...

Whether it was a pile of unexpected medical bills or maxed-out credit cards, you somehow got mired in debt. Usually, filing for a Chapter 7 bankruptcy is viewed as a last resort for those struggling with debt, but that doesn’t make it all bad. While it can have some...

The language used around bankruptcy can be offputting. It is often described as a “last resort” or said that you are “staring bankruptcy in the face.” However, bankruptcy is more common than you may realize. More than 3,000 people filed for Chapter 7 in Alabama...