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April 2020 Archives

Should you choose bankruptcy? Here are reasons to consider it

Bankruptcy is the last thing on most people's minds, even when they're struggling with debt. The reality is that bankruptcy is seen as a kind of last-ditch effort to get out of financial trouble, even though the truth is that it can be an excellent way to stop collections and to get back on track financially even before it's the only option left.

Worried about bankruptcy? Don't, because it can help

Chapter 13 bankruptcy is not the same as Chapter 7, yet it often gets the same amount of disdain from those who talk about it. While bankruptcy is often perceived negatively, the reality is that any kind of bankruptcy can have benefits for the person who is struggling financially.

What is a wildcard in bankruptcy?

Chapter 7 bankruptcy might seem to some like a curse, but the reality is that it's an amazingly beneficial way to get out of debt fast if you meet the requirements to file. Chapter 7 bankruptcy got a bad name because of its liquidation aspect. Liquidation bankruptcy can ask that you give up some of your assets. Those assets are then sold to try to pay back your creditors.

Keeping your property in bankruptcy

Making the choice to file for bankruptcy can be intimidating. It's not easy to decide to move forward with this process, and one of the things that may be holding you back is a fear of what this can do to your personal property. While you may have to give some things up, it is likely that you can keep many of the things that are important to you.