A common misconception about bankruptcy is that filers will lose all their property in the process. This could not be further from the truth. While there are some Chapter 7 bankruptcy cases in which assets are liquidated, there are many more occasions when filers can claim exemptions to protect their property from liquidation. Additionally, the
As tax season approaches, everyone filing has to take time to look at their finances in more detail than usual. For many individuals and businesses, a financial overview may show just how much they are struggling with the weight of debt. For those with too much debt than they know what to do with, tax
With the decline that our economy has seen over the past six months, it’s not surprising that many individuals and businesses have had to take on more debt or have had difficulties meeting their debt payments. If you have been struggling to make monthly ends meet, and have been for some time, it may be
Farming is a notoriously difficult profession even with the knowledge, tools, and power agriculturalists have access to today. Throughout the ages, farmers have faced challenges with the weather, soil conditions, seed fertility, plant diseases, pests, economy crashes, and many other variables. With all the hardships farmers face, it’s incredible there are so many strong people
If you own a car or house, you are like most other U.S. citizens in the fact that you possess an asset. Additionally, your property may be like most others if it’s tied to a loan agreement. Because of the high cost of housing and vehicles as well as many other necessary or luxury properties,
The holidays are a wonderful time of year for many households. It can be a time when love and kindness pair with quality family time and a break from the regular work schedule. However, because it’s also the time of year when we spend the most money, it can be one of the most difficult
Filing for bankruptcy can be a highly beneficial remedy for severe consumer or business debt. While the majority of benefits gained from bankruptcy are long-term, filers will see an immediate benefit gained from the protection of the automatic stay. When you file your bankruptcy petition, a stay preventing your creditors from collecting payments from you
Whenever we kick off a new year, most of us take a look at our lives with the intention of finding a way to improve ourselves, relationships, living conditions, careers, and many other areas of our lives. One area many of us can look to improve is our financial well-being. Because the majority of us
If you are struggling with overwhelming debt as an individual or business owner, filing for Chapter 7 bankruptcy may be the best way to resolve those debts in a government-approved legal process. Chapter 7 is the most frequent type of bankruptcy for both individuals and businesses with extreme debts and low incomes. If you choose
When you take on a loan agreement of any kind, you’re responsible for repaying that debt for as long as you’re able to meet monthly debt payments without detriment to your wellbeing or the wellbeing of the members of your household. In the event you’re unable to keep making debt payments, you have several options
