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3 Things To Know About Filing For Chapter 13 Bankruptcy

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?

Should You File For Chapter 13 Bankruptcy Instead?

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.

Four Steps To Take When Potential Employers Check Your Credit

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 lack thereof.

Is Surrendering Your Home In Bankruptcy A Good Move?

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.

5 Things A Chapter 7 Bankruptcy Can't Do

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.