Know the risks and possible drawbacks of a Chapter 13 bankruptcy

If your debts become insurmountable, they will probably impact most (or all) elements of your life. Overwhelming debt has even been linked to physical and psychological problems like high blood pressure and depression. Getting out of debt and back on track is a healthy approach to your situation. Bankruptcy can help, but which type should

How long will you make payments in a Chapter 13 bankruptcy?

When individuals in Alabama fall behind on bills, they can expect their creditors to engage in aggressive enforcement efforts. From lenders trying to reclaim collateral property like vehicles through repossession to civil lawsuits and wage garnishment, there can be many negative consequences of falling behind on your obligations. If you make too much money to

Do you have to fully repay your debts in a Chapter 13 bankruptcy?

There are several different kinds of personal bankruptcy available. If you own significant personal property or have an above-average income, then Chapter 7 or liquidation bankruptcy may not be the best option for you. Chapter 7 bankruptcy would require that you sell off some of your assets to discharge your debts, and there are strict

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