Chapter 7 and Chapter 13 Bankruptcy

For many individuals dealing with debt beyond their means, bankruptcy can be a path to relief and a fresh start. While there is no shame in filing for bankruptcy when doing so becomes necessary, it remains the case that the fees associated with bankruptcy can be a...

Filing a Chapter 13 bankruptcy is a common option for debt relief, and part of the process includes completing a means test. The means test calculates your annual, monthly and disposable income to help better evaluate your eligibility. Average monthly income Your AMI...

Filing for bankruptcy is an option for individuals who have no other recourse for relief from their debts. When your bankruptcy period is over, however, you might once again find yourself in a situation where you need to take out a personal loan. Under Chapter 7...

Financial stress can devastate you, especially if you're considering bankruptcy. For example, the National Library of Medicine detailed how economic difficulties correlate to increased depression and anxiety. Instead of managing a bankruptcy on your own and...

Although bankruptcy may seem like a shameful and humiliating process to go through, it means you get to start over. You have a clean slate to work with. Depending on the type of bankruptcy, you may have seven to 10 years before it leaves your credit. In the meantime,...

If you have thought about filing for bankruptcy, you are not alone. Many people throughout the U.S. take advantage of this legal process every year and use it to achieve a fresh financial start. According to the U.S. Courts, 544,463 bankruptcy filings occurred in 2020...

You might assume that Chapter 7 bankruptcy is better than Chapter 13 because it allows you to eliminate debt without having to pay anything back directly. You have debts completely discharged and may only have to give up a few assets. Chapter 13 can be better than...

Once your debt gets to a point where you can't manage it anymore, bankruptcy can be the best solution because it doesn't just give you temporary relief. Instead, it offers a potential discharge of your unsecured debt, which means a financial clean slate. You can...

The goal when you file for Chapter 7 bankruptcy is to have the court discharge your debts. When a discharge happens, it means the court approves your case and your debts are no longer your obligation to pay under the law. Not every Chapter 7 will end in a discharge,...

When you are having trouble paying your bills and managing your debt in Colorado, it is a good idea to look over your finances and see what is wrong. For many people, it is a car loan that is causing them issues. That is because, according to Edmunds, about one-third...