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Bankruptcy Archives

How do you know when to file for bankruptcy?

There are many reasons why people might choose to file for bankruptcy. Knowing when to consider this option is important because you don't want to file if you don't need to, but you shouldn't wait too long. There are some specific cases in which filing is the best option that you have.

Your situation determines how a bankruptcy will affect you

As the summer months near, some families will be considering taking vacations. Others are more worried about how they will make ends meet. There is a chance that the people in both of these groups will consider bankruptcy before the end of the year. While many people think that bankruptcy is an easy way out of their debts, this is far from the truth.

Choosing legal representation for your bankruptcy case

Filing for bankruptcy is a big life decision. When you are making it, you need to make sure that you have accurate information. This can be obtained by seeking the assistance of an experienced bankruptcy attorney. There are many things you need to think about when you are choosing one.

Bankruptcy is a legal way to regain control of your finances

Some people think that filing bankruptcy is a negative event in life. This mode of thinking comes from the lax laws surrounding bankruptc filings before they were overhauled. Now, bankruptcy is only a viable option for people who meet specific requirements. With the new guidelines, this is a viable legal option that people can use to get back on a responsible track with their finances. We are here to help you learn about how bankruptcy can help you to move forward and discover the financial freedom you deserve.

Use bankruptcy as a turning point in your financial attitude

Your bankruptcy process is one that isn't going to be over in just a few days. If you file a Chapter 7, you will likely have a discharge faster than someone who files a Chapter 13. This is because the people who file the latter option will have to make payments to the bankruptcy court before the case is discharged.

Reclaim your financial stability through bankruptcy

Filing for bankruptcy isn't something that most people want to do during their adult life. When you are in debt so deep that you can't find a way to pay at all, you might need to consider bankruptcy. The type of case you file determines what you will have to do.

Regain control of your finances with bankruptcy

Your finances should be able to help you live the life you deserve. They shouldn't be a source of constant stress. If you never have enough money to cover your bills, it is probably time for you to make some tough choices. One of these is whether you are going to continue to struggle to pay off debts or if you are going to file for bankruptcy.

Make the most of the fresh financial start bankruptcy provides

When you file bankruptcy, your financial situation is going to change dramatically. You must ensure that you are prepared for the changes that are going to come. One way that you can do this is to set your budget. This gives you an idea of what you can afford and provides you with a snapshot of where your money is going each month.

Types of assets in a bankruptcy case

One of the primary factors that affects people's decision to file for bankruptcy is what assets they can keep and what assets they're going to have to hand over to the bankruptcy court to satisfy their debts. If you're in this position, it is imperative that you understand which assets are going to fall under which category.

An income tax audit isn't prevented by a bankruptcy case

One concern that many people have when they file for bankruptcy is that the filing will trigger an audit from the Internal Revenue Service (IRS) when they file their taxes. While it is possible that you will be audited, there isn't a tie to the bankruptcy.