Getting rid of debt through a chapter 7 bankruptcy is certainly a very good thing. However, you may also want to hold on to certain pieces of property and debts connected to them—like your vehicle. Making a move known as a reaffirmation can help some filers do just that. To find out the details of how reaffirmations work, read below.
Debt and Repossessions
It's easy to fall behind on bills once they begin to accumulate.
Financial distress is when you are in a financial crisis. It's when you may not be able to pay your bills and may only be barely able to keep yourself fed and clothed and with a roof over your head. If you are in a financial crisis and are unable to pay your bills, you may qualify for bankruptcy so you can get out of debt and prevent complete financial ruin.
