People who are struggling with debt may be reluctant to file for bankruptcy because they cannot fathom the possibility of losing their home or vehicle. However, it is possible for many people who file for bankruptcy to keep both their house and their car. Bankruptcy...
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Bankruptcy and your credit score
Personal bankruptcy can give you a fresh start on your finances, but it comes with some costs. One of these costs is damage to your credit score. A low credit score can limit your ability to borrow money once you have completed the bankruptcy process, and that can...
4 tips for rebuilding your credit post-bankruptcy
Bankruptcy is a valuable tool for helping relieve the burden of overwhelming debt, but it does come with downsides. While the idea that it completely and irreversibly destroys your credit is a misconception, filing for bankruptcy does affect your credit score for a...
Must you have a certain amount of debt to file bankruptcy?
A job loss, medical problems, failing commercial venture or other unexpected event can cause your bills to mount up. If the burden becomes so great that you cannot cover your debts, you may be thinking about bankruptcy. This option can provide relief from relentless...
4 bankruptcy myths
Bankruptcy provides individuals and businesses with a fresh start when faced with overwhelming financial burdens. However, there are several misconceptions surrounding bankruptcy that can cause unnecessary anxiety and confusion. 1. Bankruptcy means losing everything...
Medical debt and personal bankruptcy
Americans spend trillions of dollars on health care every year and medical debt is one of the leading causes behind the number of Americans filing for personal bankruptcy. In fact, some studies have found that it is a factor in two-thirds of all personal bankruptcy...
Does bankruptcy clear student loans?
For many who took debts to finish their education, declaring bankruptcy is their only hope. However, with claims here and there that student loans are nondischargeable, worries continue to flood their minds. While it is true that bankruptcy proceedings cannot...
What debts are nondischargeable in bankruptcy?
Filing for bankruptcy could be a stressful process. It could involve a series of procedures, such as filing a bankruptcy petition with the court. All these steps are necessary to organize and resolve debts or repayments. A vital part of this process is determining...
When filing for bankruptcy, know the facts about a discharge
People in and around Indianapolis, and elsewhere, who have reached their financial breaking point and do not know where to turn to clear overwhelming debt may want to consider the benefits of bankruptcy. Whether it is a Chapter 7 liquidation or a payment plan with...
What assets are nonexempt in Chapter 7 bankruptcy?
Filing for bankruptcy can be a way to start over when debt has grown beyond what you can repay. However, bankruptcy is not without its drawbacks. Without fully understanding the consequences, there's a chance you might lose a significant portion of your personal...