Considering Filing? You Need To Know What Happens When You File Bankruptcy
March 9, 2023 by Debt Solutions
Considering Filing? You Need To Know What Happens When You File Bankruptcy What is Bankruptcy? Thinking about filing bankruptcy? Bankruptcy is a court proceeding in which a judge and court trustee examine the assets and liabilities of individuals and businesses who can’t pay their bills and decide whether to discharge those debts so they are…
Business Debt Restructuring – An Alternative To Bankruptcy
February 21, 2023 by Jill B.
Business Debt Restructuring – An Alternative To Bankruptcy What Is Business Debt Restructuring? Business debt restructuring is the reorganization of overdue accounts so the businesses creditors can be paid without having to shut down the business or file for bankruptcy. When a company has more debt than it has income, it can find itself in…
Bankruptcy: What Are The Three Main Types?
February 17, 2023 by Jill B.
Bankruptcy: What Are The Three Main Types? What is Bankruptcy? Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order. What is a Bankruptcy Court Proceeding? During a…
Pros and Cons of Filing Bankruptcy
February 14, 2023 by Jill B.
Pros and Cons of Filing Bankruptcy Bankruptcy can provide relief from debt but will affect your credit score and ability to apply for credit. Learn about all the pros and cons of bankruptcy. You may think of bankruptcy as either a disaster or a magic bullet that makes the consequences of bad financial decisions disappear.…
Chapter 7 Bankruptcy Means Test
February 14, 2023 by Jill B.
Chapter 7 Bankruptcy Means Test When debt becomes completely unmanageable people often consider the option of bankruptcy. Chapter 7 bankruptcy, which wipes away much of an applicant’s debt, is the most extreme and often best solution for those who are facing serious financial problems. Unfortunately, the courts don’t allow just anyone to get a Chapter…