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February 2020 Archives

Take control of your credit card bills quickly

For some people, credit card debt is just a fact of life. As long as you can make the payments, there likely isn't an issue. The problem comes in when you can't make even the minimum payments. In this case, your credit cards will default, and you could face a lawsuit. When it comes to this point, you know that you have to do something.

Remember these points about Chapter 11 bankruptcy

When your business isn't turning the profit it needs to remain in business, you have some difficult decisions to make. For some companies, filing for bankruptcy is necessary. A Chapter 11 bankruptcy filing involves restructuring the company's debts and assets to try to stay afloat.

Refinancing might be challenging after a bankruptcy

People who keep their home during bankruptcy often wonder when they'll be able to refinance their mortgage. Being able to do this can sometimes lower the monthly payments or get you a new interest rate. What some people don't realize is that they have to wait a certain period after the bankruptcy before they can refinance.

Specific requirements for Chapter 7 bankruptcy

Realizing that you're in over head with debts is a traumatic experience for some people. One option that you have in this case is filing for bankruptcy. There are two primary persona bankruptcies that people file – Chapter 13 and Chapter 7. A Chapter 13 is reserved for people who have an income and can keep up with payments to the bankruptcy trustee. A Chapter 7 is for people who don't have the income required to do that.

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