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April 2020 Archives

Bankruptcy may help you to save your home

The fear of losing your home when you're unable to pay the mortgage is a tough one. Most people want to keep up with this payment, but circumstances sometimes don't allow this. It's imperative that you consider your options when you're in this position, especially if you want to save your home and stop the foreclosure.

Chapter 11 bankruptcy may benefit your struggling company

Everyone who starts a business has the intention of growing it so that it's successful. It isn't a pleasant thought to think that all your hard work is going to end with the company not doing as well as you expected it to. You can evaluate your options and come up with a plan when you need to seek financial relief for the business.

Understand specific classifications during a Chapter 7 bankruptcy

A person who files a Chapter 7 bankruptcy is asking the court for debt relief through liquidation. In order to file for this chapter, you have to meet the means test that helps the court to verify that you don't have the ability to pay for these debts through a court-supervised restructuring.

Consumer debt can be challenging when income dips or stops

Total consumer debt in the United States was around $14.15 trillion in 2019. Credit card balances that were carried month-to-month totaled around $466.2 billion in Dec. 2019. This is an almost 37% increase over the past five years and just over a 7% increase from the last year.

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