The downsides to not declaring bankruptcy
Whether or not bankruptcy is right for you depends on your situation. Everyone’s financial picture is different. However, many people believe that bankruptcy is going to kill their financial outlook forever. It’s important to remember that there may also be downsides to not declaring bankruptcy. For one thing, your credit score is likely going to […]
Does non-exempt property matter in a Chapter 13 case?
You know that non-exempt property matters a lot in a Chapter 7 bankruptcy case. After all, that is a liquidation case, so that property may be sold off to pay the debt. Exempt property is what you get to keep. But what about a Chapter 13 case? With this type of filing, you’re just making […]
Addiction, fear, appearances and debt
No one wants to be in debt or sets out to declare bankruptcy. But it still happens. One reason is addiction. This can mean an addiction to something like drinking or gambling, but it often just means people like to buy things. They enjoy shopping. They like the excitement of new items. Even when they […]
Can you use Chapter 13 if you’re self-employed?
You work for yourself, and you have for five years. You have a stable income, but you overestimated how much debt you could afford. You’re thinking of using Chapter 13 bankruptcy. You know about some of the advantages. You can set up a repayment plan, for instance, that fits your current income. You fully plan […]
The bankruptcy stigma and social pressure
Many people have strong opinions about bankruptcy and it does, however unfairly, come with a negative stigma. In the real world, this stigma probably does not actually impact you in any way. If you didn’t care what your neighbor, co-worker, or father-in-law thought, you could just move forward with the best financial option for you. […]
