In the United States, if someone is in a lot of debt, they may have the opportunity to file a Chapter 7 or Chapter 13 bankruptcy. Bankruptcy is a great option for debtors who simply can’t afford to pay off their debts. Bankruptcy gives debtors a fresh start by discharging their unsecured debts or...

If you are experiencing crushing debt and you are now considering filing Chapter 7 bankruptcy, you’ll want to do your research before you make a decision. One aspect of your research should be weighing the pros and cons of filing a Chapter 7. If the pros outweigh the cons, it may be in your best...

Consumers typically file a Chapter 7 or a Chapter 13 bankruptcy, but for the purposes of this article, we’re going to examine Chapter 13 and its benefits. A Chapter 13 is often referred to as a “wage earner’s plan” because it’s suitable for people with regular incomes, especially those whose...

In the 1980s and 1990s, debt collectors were in the habit of abusing and harassing debtors; the mistreatment was rampant. This abuse included calls at all hours of the day and night, threats of violence, profane language, threats to embarrass the debtor by making their debts public knowledge, etc....

When people file Chapter 7 and 13 bankruptcies, they’re usually focused on filling out all of the necessary paperwork and after all is said and done, on rebuilding their credit. They rarely think much about when and how the bankruptcy falls off their credit report. “It’s been almost 10 years since...

Bankruptcy is available for debtors who have more debt than they can handle. Even though it can cause a credit score to dip, appearing on a debtor’s credit report for years, it should not hurt a person’s credit forever. If they play their cards right, it will be temporary. Bankruptcy offers debt...