When filing for bankruptcy you will need to list every debt you have, not just the ones you can remember. This can be difficult, especially if you have defaulted loans that are a year or so old and the agency has stopped harassing you. Just because they stop harassing you doesn’t mean you no longer [...]
Planning for bankruptcy has two connotations – one, you are planning a fraudulent means of obtaining goods by overspending then filing for bankruptcy; and two, finding yourself overburdened by debt and considering bankruptcy. In the first instance, don’t bother. The trustee together with the creditors will soon dig out fraudulent bankruptcy cases. In the second [...]
Imagine this scenario – a successful person loses their job and with it their income. Because of age, or gender perhaps, they cannot get another job. The debts mount, the creditors send constant letters of demand, perhaps even arriving on the doorstep to demand payment. Sound familiar? Are you at that place in your life? [...]
Some people seem to be under the impression that once you file for bankruptcy, it’s simply a matter of waiting a set period of time and your debts are cleared. In many cases, that’s the process for a Chapter 7 filing. However, a Chapter 13 bankruptcy petition is a little more involved than that. The [...]
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 [...]
A previous post – Can You Include Credit Card Debts In Your Petition? – dealt with some of the issues relating to credit cards and bankruptcy. Today’s post looks purely at discharging a credit card as opposed to seeking a longer payment period. Totally discharging a credit card debt is generally undertaken using a Chapter [...]
