Chapter 7 bankruptcy provides financial relief by discharging most of your debts, allowing you to put your house in order without creditors breathing down your neck. However, Chapter 7 bankruptcy applicants must meet certain requirements to qualify. For starters, you...
Chapter 7 Bankruptcy
Can I open a business after filing for Chapter 7 bankruptcy?
Filing for Chapter 7 bankruptcy doesn’t carry the stigma that it once did. More Americans are feeling the crunch of these uncertain financial times, so getting out of debt is considered more of a plus than a negative these days. But it does carry some baggage with it....
In a Chapter 7 bankruptcy, which debts are discharged?
The process of declaring bankruptcy can be complicated, emotionally taxing, and perplexing. No one makes this choice lightly, so you need to understand exactly what it means for you. As difficult as it feels, it might be a genuinely wise financial choice that allows...
Is bankruptcy the best option if your small business fails?
What do you do when it becomes evident that your small business is failing? There are several reasons a business may fail, but some may be beyond your control. However, if your business is failing and your personal assets are at risk, then it may be time to shut...
Can you keep jewelry during bankruptcy?
You want to declare Chapter 7 bankruptcy, but you know that that means you’ll have to liquidate some of your assets. This is concerning to you because you have jewelry that you would like to keep. You know that it’s valuable, but you don’t want to be forced to sell it...
How a secured credit card can help after bankruptcy
If you file for bankruptcy, you may find it difficult to get a traditional credit card right after that filing. You will likely be able to do so in the future, once you build your credit score back up, but lenders will be a bit wary if you have just filed. Don't...
What to know about debt discharge before filing for bankruptcy
A bankruptcy discharge releases you from certain types of debts. In short, provided you file for Chapter 7 bankruptcy, you are no longer legally obligated to pay any discharged debts. In addition, a discharge prohibits your creditors from taking any action on such...
What to know about exemptions in a Connecticut bankruptcy
Many individuals who are struggling to cover their bills will start to look into debt relief. They often settle on bankruptcy as the go-to option that they believe is best for their situation. As consumers take time to learn about the different types of bankruptcy,...
Can Chapter 7 bankruptcy stop a creditor bank account levy?
In some cases, yes, bankruptcy can stop an account levy. However, it is wise to learn how bank account levies work in the first place, which can improve your state of mind. For example, your creditors cannot call your bank and demand to have your accounts frozen. As...
How can I get creditors to stop harassing me?
If you have significant debt, you more than likely already feel stressed about how you will pay off your debt. Your stress increases though when you get multiple calls from creditors each day. You may be more than tired of these creditor calls and want them to stop....