Can you declare bankruptcy on just your credit card debt? The short answer yes. The long answer well, keep reading the rest of the article.
Before 2005 you would be able to discharge on your credit cards without any consequence from your lenders especially in the discharge of debts in a chapter 13. Credit card companies have the ability to file an adversary preceding. They do this when the credit companies feel that you filed bankruptcy because your debt was not authorized, second that you used the card without any intention to repay the debt on your cards in the first place.
Not only do these companies have the ability to file an adversary preceding in a chapter 7 bankruptcy, but also in a chapter 13 after 2005. Full Article…
Is it better to start an emergency fund or pay off your debt as quickly as possible? If you are anything like most human beings, you want a definitive push in one direction or the other. Most financial advisors and ten-year-old kids can tell you which is better to go with by simply looking at the numbers. However, like all things in life, it is not quite so simple. This is a great example of people thinking the world is in black and white.
Paying Off Debt Saves You Money
It does not take a genius to tell you that paying off your debt as quickly as possible is the best numerical choice to go with.
People who are facing huge debts are prone to making drastic decisions. But acting hastily or impulsively can only worsen the problem. If you are thinking about bankruptcy as the solution to your problem, you may want to sit awhile and reconsider your decision. Is it possible to get out of debt without filing for bankruptcy?
Get Out of Debt Without Filing for Bankruptcy
In the past years, it may have been easy to file for bankruptcy and start anew. However, since the bankruptcy law has been amended, the process of bankruptcy has become more complicated that it was years ago.
Today, before you can seek bankruptcy, you should first complete counseling with a government accredited credit counseling agency at least 6 months before filing. Full Article…
After almost twenty five years as a debt consolidation lawyer offering bankruptcy services in Indiana, I can tell you that, for most people who visit one of the four Zuckerberg bankruptcy law offices, it’s all about getting their debts discharged.
What the term “discharge” means is that, through the Indiana bankruptcy process, you’re getting rid of debt. When you file personal bankruptcy in Indiana (whether it’s bankruptcy Chapter 7 in Indiana, or whether you qualify to file under Chapter 13 bankruptcy law in Indiana), most of your debts will be wiped out either immediately or over a time period, and you will not need to worry about those debts any more.
For the millions of Americans struggling with debt, there are a lot of voices that claim to help. Unfortunately, the variety and differences in the options can be downright disorienting. Here is a quick run-down on the options that you have to achieve debt relief.
Debt Consolidation
Debt consolidation simply means taking out a single loan to pay off a number of other loans. This method can simplify the process by requiring the debtor to only pay a single bill as opposed to keeping up with several. This single loan can offer a better interest rate than the ones before, which can help to pay off the loan faster. One of the risks of debt consolidation is that in order to obtain the loan, individuals must put up collateral in case they default on this single loan. Full Article…