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Filing for Personal Bankruptcy as Chapter 7 or Chapter 13

The founders of the United States foresaw that honest people might suffer severe economic misfortune or make poor choices. So, they provided for bankruptcy in the U.S. Constitution. [more…]

How to Get Out of Debt

If you’re living with a large debt, putting together a budget — an itemized account of income and expenses — is only the first step to getting your financial house in order. You may need to take some bold [more…]

The Types of Bankruptcy

If you’re filing for bankruptcy, your basic choice is between a bankruptcy that doesn’t involve any type of repayment plan (Chapter 7 bankruptcy) and one that does [more…]

How to Avoid Bankruptcy

You don’t need to file bankruptcy to solve a trivial financial problem or when a more targeted remedy is available. Although you shouldn’t view bankruptcy as a last-ditch solution, you probably shouldn’t [more…]

How to Deal with Debt Collectors during Personal Bankruptcy

If you're facing personal bankruptcy, you've probably heard from debt collectors. A debt collector's job is to get you to pay their client's debt, and they can be very inventive in finding ways to motivate [more…]

What the Newest Bankruptcy Law Means to You

The bankruptcy law that went into effect in 2005 makes it harder than it used to be to declare personal bankruptcy. It's much more difficult to liquidate your assets and get a fresh start to your credit [more…]

Questions to Answer when Considering Personal Bankruptcy

If you're thinking about personal bankruptcy, you're looking at some hard questions and harder choices, especially under the newest bankruptcy law. Answer the questions in the following list to figure [more…]

What Bills to Pay First when Considering Personal Bankruptcy

If filing for personal bankruptcy is on your radar, continue paying whatever bills you can to stay within the law. Prioritize bill payments with the help of this list: [more…]

Personal Bankruptcy Laws For Dummies Cheat Sheet

Going through the process of filing personal bankruptcy isn't fun, but it’s sometimes necessary and can be a huge relief. Filing for personal bankruptcy means you have to answer some tough questions about [more…]

How Disease Can Bankrupt a Family

Money isn’t always easy to talk about. The author shares details about herpersonal finances and her life.

Four years ago — seven days after my 30th birthday, and three months before my only daughter turned [more…]

Is Bankruptcy Right for You?

As you consider bankruptcy, take into account: Can you do anything more to help meet your obligations? Do you have hope of finding a solution that’s acceptable to both you and your creditors? If you answered [more…]

The Benefits and Disadvantages of Bankruptcy

Like anything in life, bankruptcy is neither all good nor all bad. However, it is a good idea to weight these bad and good aspects before making a decision. Take a look at bankruptcy’s benefits as well [more…]

How to Qualify for Chapter 7 Bankruptcy

Access to Chapter 7, the most popular form of personal bankruptcy in recent years, is restricted by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Chapter 7 has been so popular because [more…]

How to Qualify for Chapter 13 Bankruptcy

The strict guidelines to qualify for filing a Chapter 7 bankruptcy mean that some people qualify only to file Chapter 13. The requirements for counseling and proof of income are the same for both types [more…]

Can I Back Out After I File for Bankruptcy?

If you decide that bankruptcy isn’t for you afteryou file your court papers, you can ask the court to dismiss your case before you get your discharge. For example, say you file a Chapter 7 and then find [more…]

How to Repair Your Credit Score after You File for Bankruptcy

Your credit score is likely to suffer dramatically from a bankruptcy. The better your score originally, the more it drops. If you had terrible credit before, a filing may not cause such a big drop. Either [more…]

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Personal Finance