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Learning About The Process Of Filing Bankruptcy

Last year I had some financial difficulties and I couldn't pay off my debt. The uncertainty of my financial future was adding to my already stressful life. After months of worry, I finally decided to contact a bankruptcy attorney. After discussing my options with the attorney, I decided to file bankruptcy. My name is Kyle Diggler and if you're struggling with debt and considering bankruptcy, I'm here to help you. I'm not an expert, but I want to share my story and my experience of filing bankruptcy with others who are in a similar situation. As you read my blog, you'll learn all about the bankruptcy process so that you'll know what to expect. I'll also share some tips to help you start your life over financially. I hope that my blog answers all the questions you have about filing bankruptcy.

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Learning About The Process Of Filing Bankruptcy

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Declaring Bankruptcy Vs. Consolidating Your Loans

If you're thinking about declaring Chapter 13 bankruptcy, you may be wondering what the benefits are over simply consolidating your loans. Chapter 13 bankruptcy isn't like Chapter 7 bankruptcy; instead of wiping out your debts, it creates a payment plan system that you can use to get your debts back on track. Though it operates very similarly to a loan consolidation, there are some benefits. Chapter 13 Bankruptcy Stops Your Calls Immediately

How To Know If Filing Bankruptcy Is The Right Decision For You

Filing bankruptcy is a big deal, but it's something that needs to be done if your debt is a constant worry and you're struggling to pay for everyday things such as groceries and gas. Filing for bankruptcy isn't the end of the world, you should consider it a new beginning. Read below for tips on how to tell if bankruptcy is the right decision for you. Debt Amount If you have a lot of debt and not a lot of income, you may be struggling to keep up with your monthly bills.

Bankruptcy Tips To Consider

Financial problems can have devastating effects on your quality of life and future prospects. Unfortunately, individuals will often find that it is extremely difficult for them to effectively overcome this type of problem. When you find that your debts are simply too large for you to manage, there are bankruptcy protections that you may utilize to help give yourself the best chance possible of a new financial start. If you come to the conclusion that filing for bankruptcy is your best option, there are a handful of points that you should follow as you prepare to meet with an attorney that specializes in these filings.

The Truth About Bankruptcy: It's Not As Scary As It May Seem

Obviously, having to declare bankruptcy is not a good situation to be in. But if you're drowning in debt with no other way out, it may be the best solution to your problems. And the good news is that declaring bankruptcy is not quite the nightmare it's often made out to be. Here are four things you may have heard about bankruptcy that are not true. Your name will be printed in the paper.

Fake Debt Collectors And Your Finances

If your financial state of affairs is less than healthy, you may be getting phone calls from bill collection agencies on a constant basis. While you know you have fallen behind on your bills, these debt collectors do have to follow some guidelines about contacting you. For example, they're only allowed to call during certain hours of the day and days of the week. A new problem has arisen with debt collection activities however, that can make the normal collections activities appear relatively tame by comparison.

Passing The Means Test And Bankruptcy

With a single federal filing, bankruptcy could make many of your debts simply disappear and immediately get the creditors off your back. While this decision should not be taken lightly, you should also spend some time ensuring that this action is going to do what you hope it does. Not everyone qualifies to file, and the sooner you know about the qualifications, the sooner you can take action. Read on to learn about the very specific test you must pass to file for chapter 7 bankruptcy.

How To Prevent A Debtor From Discharging Debt Owed To You

While chapter 7 bankruptcy offers people struggling with debt a way to get a fresh financial start, that often means creditors who loaned them money must absorb the losses. While large companies can afford to write off unpaid debts, this isn't always true for small businesses or individuals who are owed money by the debtor, especially if the money was obtained by debtor fraudulently. If you want to prevent a bankruptcy petitioner from getting debts the person owes you discharged, here's what you need to do.

3 Things You Should Avoid Doing Before You File For Bankruptcy

Filing bankruptcy is a huge event, and if you're considering this, there are certain things you should do before you fileā€”and certain things you should not do. Preparing to file for bankruptcy is something you should carefully think about, and you should also seek advice from a bankruptcy attorney before you decide to go through with it. Here are three things you should avoid doing before you file the paperwork.

What You Should Know About Chapter 7 Bankruptcy And Divorce

Couples who are seeking a divorce are often also experiencing financial difficulties. Chapter 7 bankruptcy can be an attractive option for those navigating the treacherous financial waters involved in the typical divorce, but you should think very hard before you file for divorce and bankruptcy at the same time. The disadvantages of doing so include: Your assets will be frozen as a result of the bankruptcy filing, making it impossible for a judge to divide and distribute them.

Car Repossession And Chapter 13 Bankruptcy: Can You Get Your Car Back Or Prevent The Repossession?

In 2012, the average U.S. household credit card debt reached an astounding average of $15,950. With the economy struggling, many Americans are having a hard time paying back their debts and reaching financial stability. If you've been falling behind on your car payments, your car may have been repossessed or may be in danger of getting repossessed by the dealership. You can get your car back or prevent the repossession by simply filing for bankruptcy under chapter 13.