Making Sense Of Your Financial Mess
A few years ago, I realized that I had a real problem. I hadn't been able to pay my bills in awhile, and I was left wondering what to do. Bill collectors called me non-stop, and I wasn't sure how to go about making things right. Fortunately, a friend of mine who understood my mess explained that it might be a good idea to meet with a bankruptcy attorney. After I went, I was blown away with the level of care and understanding I was given. This website is all about helping other people to see the light, even when they are in the midst of battling a hectic financial situation.
There are many misconceptions about bankruptcy, so if you are at a point in your finances when you are beginning to think about it, there are several things you should understand. The following are three of them.
Creditors have rights
You may not think highly of the lenders who are trying to collect their money, but once you go down the path of bankruptcy, they still have rights. After you file for bankruptcy, they have the right to challenge it in various ways.
Bankruptcy should really be a last resort. If you are in a position where you feel like bankruptcy is inevitable, here are three things you can do on your own to get your finances in control and see if you can avoid having to file for bankruptcy. A bankruptcy attorney or credit counselor can help you with the tasks that are detailed below to help you avoid having to actually file for bankruptcy.
When it comes time to make the big decision about filing for bankruptcy, it's often due to a variety of financial problems. Getting behind on your bills can bring an onslaught of harassing collection activities and threats of property loss. Fortunately, a chapter 7 bankruptcy filing gives consumers a tidy method of dealing with multiple problems in one fell swoop. Read on to learn more about how the automatic stay can help you begin to see the light at the end of the tunnel.
Qualifying for Chapter 7 bankruptcy is something that is based primarily on your income, and most people prefer using this branch over Chapter 13, because Chapter 7 does not require you to repay unsecured debts. If you qualify for Chapter 7, you may have some decisions to make about your assets, and one big decision is whether you should keep the house you have. Here are some factors to evaluate if you have to make this decision.
If you are at a place in life where you are considering bankruptcy, you have probably already heard how it will negatively impact your credit. What you may not have realized is that it can also have a positive impact as well. Not only will filing bankruptcy give you the ability to have a fresh start, but you may find that after filing you may have a better FICO score, which in turn will give you access to more credit than you had before.