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Bankruptcy Archives

What you need to know about the Chapter 7 means test

Despite working hard, many people find that there is not enough money to go around at the end of each month. As a result, it is only a matter of time before bills and other financial obligations begin to pile up. If you are in this situation, you may have considered the options available to you, including filing a Chapter 7 bankruptcy.

Four reasons not to delay filing bankruptcy

When you are having financial problems, you may feel that there is a stigma attached to filing bankruptcy. As a result, many people try other options first, such as borrowing money on available home equity credit lines, cashing out retirement accounts or even borrowing money from family or friends, before considering bankruptcy. Unfortunately, in reality, doing any of these things instead of filing bankruptcy can come back to haunt you.

Top three myths about bankruptcy debunked

Many people have heard about bankruptcy, but are not exactly certain about what it entails. As a result, many myths about the process and how it affects filers have circulated throughout the years. Consequently, it is important for you to understand how the most persistent rumors are simply not true, so you will not be discouraged from getting the help you need if you find yourself in financial trouble.

3 steps to rehabilitate your credit score after bankruptcy

If you are hopelessly struggling with debt, you may be reluctant to seek the bankruptcy relief that you need, because you are afraid that it will ruin your credit. Although bankruptcy will likely negatively affect your credit score in a significant way, its effect is immediate and temporary. In the long run, you will find this alternative better than doing nothing and letting your financial problems get worse, which can harm your credit score more than bankruptcy could.