Redeeming Secured Property in Chapter 7 Bankruptcy

If you’re facing a large amount of debt and unable to make payments each month on those debts without severely compromising your quality of life, you may want to consider filing for bankruptcy. Chapter 7 bankruptcy is the most commonly filed case for individual consumers. In fact, there were over 400,000 non-business Chapter 7 bankruptcy

Unusual Properties Involved in Chapter 7 Bankruptcy

Filing for bankruptcy is a highly effective process for finding long-term, permanent debt relief. Not only does bankruptcy treat the majority of common individual debts, it also creates a situation for debtors to learn better financial practices and it protects the local and national economies from an excess of debts that won’t be repaid. If

Overview of Some Bankruptcy Statistics since 2005

In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) became law in response to the rapid spike in individual consumer bankruptcies. The difficult economy of the early 2000s pushed many people into serious debt, and filing for bankruptcy was the best option available to them for long-term debt relief. However, it also created