Filing for Chapter 7 bankruptcy can wipe out many of your debts and allow you a fresh start in your financial life. However, not all debts are treated the same way. Secured debts, in particular, come with added complexities because they are backed by collateral -...
Chapter 7
Should you spend money right before you file for bankruptcy?
You've been thinking about filing for bankruptcy for months. Maybe you have a lot of outstanding medical debt, which is an incredibly common reason for bankruptcy, or maybe you have credit card debt. No matter how you got it, you realize that you can't pay it off on...
Will Chapter 7 bankruptcy mean the end of creditor phone calls?
One of the worst aspects of getting into debt you cannot afford to pay back is the constant attention from creditors. They may contact you themselves or pay a debt collection firm to do it. It can leave you scared to answer the phone, open the door, check your emails...
What happens when you emerge from Chapter 7 bankruptcy?
If you are dealing with debt, one of the things you may want to consider is going into bankruptcy. Bankruptcy is usually a good idea for those who have tried other debt-resolution options, such as consolidating or negotiating down debts, but that still have...
Should you consolidate your medical debt?
When people are in debt, one of the main options they tend to look at is debt consolidation. There are times when debt consolidation can be an excellent choice, but it’s not always the right solution. Consolidating medical debt may seem like a good way to reduce your...
Can you protect your home during Chapter 7 bankruptcy?
Like many people who need to file bankruptcy, you may not have the means to satisfy your debts through a Chapter 13 repayment plan. You will likely fear the prospect of filing Chapter 7 bankruptcy, though, since it could cause you to lose your home. Keeping it after...
Considering bankruptcy and engaged to be married? Which should you do first?
If you’re planning to get married in the near future, it’s always best for you and your spouse-to-be to talk with each other honestly about your finances. This includes not just your current financial situation, but your attitudes towards spending vs. savings and your...
Don’t let fear of bankruptcy stop you from getting out of debt
Millions of Americans file for bankruptcy every year. Then there are millions more who could benefit from filing for Chapter 7 or Chapter 13 bankruptcy but don't. People who put off or avoid bankruptcy have many reasons for their actions. Fear is one of the biggest....
The convenience and risk of a cash advance
The main reason that people use cash advances is that they’re convenient and they appear to solve an immediate financial problem. For instance, you could be somewhere that only accepts cash, but you don’t have any on you. Using a credit card to get a cash advance...
Is there any way to discharge student loan debt?
You’ve been struggling with debt for a long time. You owe over $500 in student loan payment every month, which is nearly as much as your $600 in rent. You have a job that pays decently, but with rent, utilities, your loans and other items that you need, you’ve found...