Filing for bankruptcy is a legal process. As such, it requires you to provide various documents and information to prove that you have the legal means to request the court free you from your debts. Bankruptcy is a federal statute, which means the laws for filing are...
Bankruptcy
What could disqualify a petition for bankruptcy?
Some might view a declaration of bankruptcy as a free pass to eliminate all debts and start over. However, financial hardship does not automatically qualify a person for bankruptcy. The process is a legal proceeding, and a court may deny the request of someone who...
How can you rebuild your credit after bankruptcy?
If you filed bankruptcy, you may have a positive outlook about the future of your finances. But since filing bankruptcy likely damaged your credit score, you may want to find a way to build it back up as quickly as possible. It can take time to rebuild your credit...
Why does bankruptcy happen?
Bankruptcy could dash your vision of the future if you allow it to. You might wonder what ever happened to put you in such a serious predicament. When you know some of the common reasons for bankruptcy, you might have some ideas of how to proceed. You may also...
How can you reduce debt with the snowball method?
If you feel like you cannot get ahead of your accumulating debt, you may have to find ways to make payments that make a difference in your overall debt. If you like to see success quickly, you may benefit from the snowball method. The U.S. News describes the snowball...
2 qualifications to consider before applying for Chapter 13
Chapter 7 is the most common option for bankruptcy in the United States. However, according to the U.S. Courts, Chapter 13 is the second most used form, with 120,002 filings in 2021. Though Chapter 7 is more straightforward, Chapter 13 gives you more options and might...
If you pursue bankruptcy, are you going to have to sell your dog?
Constantly struggling to stay on top of your huge pile of debt can take an almost unbelievable toll on your mental health. Indeed, according to Psychology Today, having too much debt can make you both angry and anxious. Owning a dog may help you maintain good mental...
How do Chapter 7 and Chapter 13 bankruptcies differ?
Many Florida residents struggle to keep up with their bills and debts, and when interest starts to compound on those debts, it often becomes even more difficult to see the light at the end of the tunnel. If you are among those whose finances have started spiraling out...
How can secured credit cards help after bankruptcy?
Credit scores take a hit after filing for bankruptcy. Most often, you cannot apply for a traditional, unsecured credit card shortly after the bankruptcy proceedings. Not only does your bankruptcy remain on your credit score, but the low score affects the lender's...
Can you discharge student loans during bankruptcy?
When debt becomes overwhelming, and you cannot reasonably pay it back, bankruptcy can help you get a handle on your life. It is possible to discharge many types of debt during bankruptcy, including credit card debt, medical bills, and personal loans. When it comes to...
