Exploring Car Loans, Bankruptcy and Debt Discharge

Ask Your Trustee To Extend Your Payment Plan When Your Car Breaks Down

Posted by on Mar 31st, 2015 in Uncategorized | 0 comments

The terms of a chapter 13 bankruptcy agreement will have a strict repayment schedule that you’ll need to adhere to, and they’ll have potentially severe consequences should you fail to make your required monthly payments. Making each payment can be difficult, however, especially when you face an unexpected expense, like a major car repair. There may be hope, despite what the terms of your bankruptcy state, however. If your automobile breaks down and you won’t be able to pay your creditors, talk with your trustee and see if...

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3 Things To Know About Filing For Chapter 13 Bankruptcy

Posted by on Mar 25th, 2015 in Uncategorized | 0 comments

If you want to adjust the amount of your loan by restructuring it, one way to do so is with a Chapter 13 bankruptcy. There are many benefits to selecting this type of legal status to make changes in any loans that you currently owe. It is critical to your success to know certain things about what this bankruptcy is and what is involved in the filing process. What is Chapter 13 Bankruptcy? This type of bankruptcy is referred to as the wage earner bankruptcy because you must be employed to qualify for it. When completing the paperwork, it is...

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Should You File For Chapter 13 Bankruptcy Instead?

Posted by on Mar 20th, 2015 in Uncategorized | 0 comments

In some instances, filing for a Chapter 13 bankruptcy makes more financial sense than filing for a Chapter 7. There are many factors that dictate which filing is available to you, but sometimes, you have more than one option. Here are some situations in which a Chapter 13 filing might be best.  You Want to Repay Your Creditors If you have a personal desire to repay your creditors instead of having the debts discharged, a Chapter 13 is the best option. The bankruptcy would help protect you from financial consequences from your creditors...

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Four Steps To Take When Potential Employers Check Your Credit

Posted by on Mar 13th, 2015 in Uncategorized | 0 comments

You applied for the perfect job and the employer even called you in for an interview. Everything was going along swimmingly until the hiring manager mentioned the next steps, including a check of your credit. Increasingly more employers are performing credit checks in addition to traditional background checks on potential new hires. In some cases, the employees may be required to handle money directly or even indirectly. In other situations, employers may look at credit history as an indicator of responsibility, integrity and reliability–or a...

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Is Surrendering Your Home In Bankruptcy A Good Move?

Posted by on Mar 10th, 2015 in Uncategorized | 0 comments

Surrendering your home is an option if you plan to file for Chapter 7 bankruptcy. There are various reasons and benefits for taking this action. Before you make a decision as to whether or not surrendering your home is best for you, consider the following. What Is Surrendering Your Home? The loan that you have from your mortgage lender is considered to be secured debt. This basically means that your lender has a lien against the home until you have completely paid off your mortgage loan. If you fail to meet your financial obligation to the...

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5 Things A Chapter 7 Bankruptcy Can’t Do

Posted by on Mar 5th, 2015 in Uncategorized | 0 comments

Being in a financial bind can create a great deal of stress in your life. If you are suffering a job loss or a significant change in your income, you may need to consider filing for a Chapter 7 bankruptcy. Being able to achieve this legal status may help you get many of your debts discharged. However, it is   equally important to know what this type of bankruptcy won’t achieve for you. Student Loans If you borrowed money to obtain your education, you will be responsible for paying this back. Regardless if you can obtain the...

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Returning To Sanity After A Bankruptcy

Posted by on Feb 26th, 2015 in Uncategorized | 0 comments

Bankruptcy is a heartbreaking procedure that affects thousands of Americans every year. Moving on from this procedure takes a lot of patience, hard work and a little guts. However, if you stick to this basic plan, you should get your life (and your sanity) back on track in no time. Keep Paperwork After you’re done filing, make sure to hold on to your paperwork for the length of your bankruptcy. Why? Because if you have to refile at the end of your term, those papers can help you streamline the process and avoid a lot of agony down the...

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