Bank accounts have a unique place in bankruptcy petitions because they are always in flux. If you are working, money is regularly coming in – and just as regularly leave as you continue to pay for day-to-day expenses. When it comes to bankruptcy proceedings, you need to be very careful what you do with your [...]
One of the key factors that stop people filing for bankruptcy is their fear of the consequences and the uncertainty that follows. Hopefully, we can allay some of those fears and turn that uncertainty into a positive. Before we start, let’s be clear, life after bankruptcy will not be the same as before. There will [...]
One of the reasons that personal loans have a much higher interest rate is because they are unsecured. This means that if you go into default, the creditor cannot make a claim against any assets without a court order. When it comes to bankruptcies, especially those under Chapter 7, the creditor may wind up receiving [...]
You may wonder what effect bankruptcy may have on your retirement savings. The good news is, very little. However, it does depend on where your retirement savings are. For example, if you have been putting money aside in a simple bank account or investing through shares then these savings may well be at risk. If [...]
