There are many unpleasant consequences that come with owing a significant amount of debt. One of these includes the efforts of debt collectors and creditors to secure payment from the consumer. This typically starts with phone calls and letters in the mail, but it can...
If you have a car that you're leasing and are planning to go through a Chapter 13 bankruptcy, you may be wondering what will happen to the least. Generally, there will be two options open to you. The first would be to return the vehicle. The second would be to...
Bankruptcies are sometimes seen as a last resort and something that people try to avoid at all costs. They are almost seen like an evil in this society, even though bankruptcy laws are a helpful protection for both consumers and businesses. They're actually very...
Deciding to file bankruptcy is a serious decision. A bankruptcy can remain on your credit report for seven to 10 years. It may be more challenging to get new credit such as credit cards, mortgages and personal loans during that time. If you can secure credit, like an...
If you are considering a Chapter 13 bankruptcy, something you might also be worried about is not being able to make your monthly payments on time for the length of the bankruptcy. This is something that you should discuss with your attorney because there is a...
Chapter 7 bankruptcies can be great for those who are in debt and who have no disposable income to pay down what they owe. Some people worry about filing for this form of bankruptcy due to the belief that it may leave them with nothing. However, despite the fact that...
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...
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...
Individuals who file for Chapter 13 bankruptcy in Tennessee could potentially have a second mortgage lien stripped. Chapter 7 cases only deal with unsecured debts, and this is why a lien cannot be stripped in a liquidation bankruptcy. Typically, debtors are allowed to...
One of the long-standing rules of bankruptcy law is that the automatic stay prevents creditors from taking steps to enforce the debts owed to them. In other words, they must do nothing once the debtor files for bankruptcy. However, doing nothing can also get a...
