Dealing with serious debt can be a tough experience. While bankruptcy can provide relief from this debt, it is important to handle credit cards responsibly afterward. These are some ways to manage credit cards effectively post-bankruptcy. Budget wisely Create a...
Bankruptcy
Tips for completing a Chapter 13 bankruptcy repayment plan
When facing financial difficulties, filing for Chapter 13 bankruptcy can offer a structured path to manage debt and regain financial stability. If you file for Chapter 13 bankruptcy, you should understand how to successfully complete your Chapter 13 repayment plan....
Can you file for bankruptcy more than once?
Life is full of financial challenges, and going through bankruptcy once and rebuilding is no guarantee that you won’t end up facing new financial issues in the future. A job loss, a medical emergency or problems with your business can all lead you down that road...
Who qualifies for Chapter 13 bankruptcy relief?
Individuals who are facing financial hardship often consider bankruptcy as a way to resolve their economic challenges. Bankruptcy immediately halts collection efforts and can lead to the discharge of certain debts if someone successfully completes the process. There...
How long does it take to complete a Chapter 13 bankruptcy?
A Chapter 13 bankruptcy filing is one of the most effective solutions for personal debt. Those who earn average or above-average income, a house at risk of foreclosure and/or personal resources that would be at risk of liquidation in a Chapter 7 filing may choose...
How does someone qualify for Chapter 7 bankruptcy?
There are several different forms or chapters of individual bankruptcy, and each offers different benefits for a filer. Most individuals considering personal bankruptcy will choose between Chapter 13 and Chapter 7 proceedings. The kinds of debts someone has and also...
Will you lose your home in a Kentucky Chapter 7 bankruptcy?
Chapter 7 bankruptcy has a reputation for diminishing people's personal property. After all, it is nicknamed “liquidation bankruptcy.” Those who are filing may have to sell off or refinance some of their assets as a means of extracting value from their existing...
Why people often file for bankruptcy when a creditor sues them
It is easy to lie to yourself about how bad your debt situation really is. You may promise yourself that next week you'll rework your budget or next month you'll apply for a second job on the weekends, but there will always be more expenses on the horizon as well....
Does it make sense to file for bankruptcy?
More and more Kentucky consumers have determined that filing for bankruptcy could be the way out of debt that’s spiraling out of control. Many have tried negotiating with creditors or consolidating debts. Some debts are more difficult to get rid of than others The...
Will filing bankruptcy eliminate your student loans?
Repaying student loan debt is a struggle many Americans are familiar with. Collectively, 45 million borrowers owe nearly $1.6 trillion. If you are among these borrowers and are feeling financial pressures from other sources, you may wonder whether filing bankruptcy...