is bankruptcy the right move for you?is bankruptcy the right move for you?


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is bankruptcy the right move for you?

Are you in financial trouble? Do you know what your options are for getting yourself out of that financial trouble? Unfortunately, it doesn't take a whole lot to mess up the financial stability in a household, but it can take a lot of work and decision making to resolve it. Have you considered filing for bankruptcy? This was one step that I never imagined I would have to take, but have recently had to go through the process due to an illness that prevented me from working for several months. If you are considering bankruptcy, take a moment and visit my website, where you will find a plethora of information that can help you.

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Filing For Bankruptcy? 6 Common Terms That You’Ll Hear

If you're a first time bankruptcy filer, there is going to be a lot of new terminology that will be thrown at you. It helps to know the following terms so that you understand what you are being told through the initial bankruptcy proceedings. Chapter 7 Bankruptcy One common form of bankruptcy is called Chapter 7, and it's intended for individuals that are going through bankruptcy rather than businesses. It is also ideal for people that have very few assets, even if they own property. Read More 

Effects Bankruptcy Has On Cosigners

When you choose to file for Chapter 7 bankruptcy, you will receive a discharge of your debts if the trustee approves everything in your case. The discharge offered to you can relieve you of a lot of your financial burdens, but there is something really important you should know if you have cosigners on any of your debts. What is a cosigner? A cosigner is a person who take responsibility for paying debts of another person, and people often need cosigners when their credit is not good enough on its own to qualify for a loan. Read More 

3 Reasons Not To Avoid Bankruptcy

Many people get into a financial predicament where filing for bankruptcy will be beneficial to them. Unfortunately, there are reasons people will not go through with a bankruptcy, but they are often unsound. The following are just of few of the most common of these reasons. 1. Your rating will go down drastically Although this is true, you shouldn't let this be a barrier to declaring bankruptcy. The main reason for this is that your credit will only drop for a certain period of time. Read More 

Leaving Things To The Grandkids: Yay Or Nay?

An estate planning attorney will help you decide which of your heirs gets what. Then the attorney helps you write the will. One of the questions your attorney may ask you is if you would like to leave any part of your estate to your existing grandchildren. This is something that does require some consideration, and here is why. Your Grandchildren May Be Many If you had three children of your own, and each of your children married and had or adopted three children of their own, you would have to think long and hard about how to split your estate twelve ways, instead of three. Read More 

What Is an Automatic Stay in Bankruptcy?

Choosing bankruptcy as a way to find relief from your debt problems is often a good place to turn to, especially when you have mounds of debts you cannot repay. Using Chapter 7 for this is one option you have, and this branch of bankruptcy is often the preferred option because it offers debt-forgiveness; however, both Chapter 7 and Chapter 13 offer something called an automatic stay. What Is an Automatic Stay? Read More