What is Bankruptcy?
What is Bankruptcy? Bankruptcy is a form of debt relief provided under title 11 of the U.S. Code. There are two forms of consumer bankruptcy including chapter 7 and chapter 13. Chapter 7 is a liquidation bankruptcy. There is no payment plan. Chapter 13 reorganization is a three to five year full or partial repayment […]
Top Five Reasons People File Bankruptcy
The Top 5 Reasons To File Bankruptcy 1. Stop a Wage Garnishment. Wage garnishment hinders the person’s ability to pay their regular monthly bills, such as rent and car payments. 2. Get a Fresh Start. The person may begin rebuilding their credit within six months of filing bankruptcy. The bankruptcy may end their legal […]