Many people use credit cards for most of their purchases, especially with how common it has become to buy things online. A credit card simply makes it easy. One of the downsides to declaring bankruptcy, then, is that it reduces a person’s credit score. This may mean...
Many people in New Jersey turn to Chapter 7 bankruptcy when they face overwhelming debt and need a way to reset their finances. This type of bankruptcy can eliminate unsecured debts such as credit cards and medical bills, giving filers a clean slate. However, a car...
Filing for Chapter 13 bankruptcy can help you reorganize your debts and create a plan to repay them over time. However, many people have debts that they share with another person, which can create confusion during the bankruptcy process. One important feature of...
Filing for Chapter 7 bankruptcy raises questions about what will happen to your home. If you're struggling with debt, you may wonder if you'll lose your home or if you can keep it. The answer depends on several factors. Understanding how different situations can...
Filing for Chapter 13 bankruptcy can help manage overwhelming debt, but its impact on taxes depends on your situation. While it does not eliminate all tax liabilities, it can provide relief through structured repayment and protection from collection actions. Tax debts...
The means test helps determine if an individual qualifies to file for Chapter 7 bankruptcy. This form of bankruptcy allows eligible debtors to discharge most unsecured debts, such as credit card balances and medical bills. The test ensures that only those with limited...
Filing for bankruptcy can be tough, overwhelming and daunting, especially when it comes to dealing with the complexities of Chapter 13. With its benefits and drawbacks, it is vital to know the implications of this debt relief option. If you are struggling to make ends...
Recent changes to the Federal Rules of Bankruptcy Procedure aim to make the bankruptcy process easier for individuals. These amendments, emphasizing electronic filing and simplified forms, are designed to help individuals navigate Chapter 7 and Chapter 13...
Facing eviction can be a stressful experience, especially when dealing with financial difficulties. Filing for bankruptcy might offer temporary relief from eviction. Understanding how bankruptcy affects eviction proceedings can help tenants make informed decisions....
Chapter 13 bankruptcy offers individuals a way to reorganize their debts and create a manageable repayment plan. However, not everyone qualifies for this type of bankruptcy. Income requirements To qualify for Chapter 13 bankruptcy, you must have a regular income that...
