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Posts tagged "Chatper 7"

If you're in over your head with debt, bankruptcy may be helpful

Your credit card debt grew out of control when you were with your ex-boyfriend. You spent money to cover his debts, and you put them on your credit cards because he said he'd pay you back. That, of course, didn't happen. Now that you've broken up, it won't either. You're mad that you didn't realize what a huge amount of debt you'd taken on. Hindsight is 20/20.

Student loan debt crushes some borrowers

People who have more debt than they can handle will sometimes turn to bankruptcy for a fresh financial start. This is beneficial to many, but some might find that they don't get as much relief from the filing as they expected. A study done by LendEDU of 1,083 filings shows that many people who file for Chapter 7 bankruptcy have student loan debt that isn't dissolved in the bankruptcy.

Get to know how bankruptcy can help you eliminate debt

Chapter 7 bankruptcy is one kind of bankruptcy you can choose if you are struggling to pay your bills and are overwhelmed with debts. Chapter 7 bankruptcy isn't the only option, but it is the type of bankruptcy most people think of when they consider entering into bankruptcy.

Myths about Chapter 7 bankruptcy

Chapter 7 bankruptcy is known as the liquidation bankruptcy because many of your assets are sold off to pay your debts. Even though this is a fairly common form of bankruptcy, there are still many myths that surround it.

Hotel group requests bankruptcy in Arkansas

When a business is costing more than it brings in with profits, it's sometimes time to sell or to consider bankruptcy. By selling the property off, you can avoid staying in debt. With a bankruptcy, you may be able to sell for a lower price that is affordable to others while still eliminating any outstanding debts you owe.