Struggling to Keep Up with Basic Expenses It is when you are resorted to putting things on credit or borrowing money to buy the basic necessities such as groceries, rent, or utilities that you know that your income is not…
Understanding the Automatic Stay The automatic stay is one of the most immediate and effective types of protection that is accorded when a person files bankruptcy. It is a legal injunction that will take effect immediately your petition is filed…
Immediate Impact on Your Credit Score Bankruptcy will lead to a significant credit score decrease nearly every time since it is one of the most severe adverse events that can be placed on a credit report. This depends on your…
Automatic Stay: Immediate Protection from Creditors Automatic stay is one of the greatest benefits of declaring bankruptcy in Arizona. This is what is known as legal protection and it instantly prevents creditors to take any form of collection, including harassing…
Gather Essential Financial Documents The best thing to do during your first bankruptcy meeting is to have your financial information in place. These are recent pay stubs or evidence of income, previous two years tax returns, bank statements over the…
Understanding Bankruptcy Exemptions In the process of filing a bankruptcy, bankruptcy exemptions determine to a large extent whether you are allowed to retain your house and car. These exemptions ensure that some property is not sold off by the bankruptcy…
What Is the Automatic Stay? Automatic stay is a very effective law that comes into effect once you declare your bankruptcy. It is a kind of freeze button that prevents most of the collection actions against you by creditors. This…
Rushing into Bankruptcy Without Exploring Other Options The major error that individuals commit prior to bankruptcy is leaping into it without weighing all the options presented to them in terms of debt relief. Other options such as debt negotiation, loan…
Medical Debt as a Leading Cause of Bankruptcy The issue of medical debt is one of the most prevalent and prominent reasons of bankruptcy in the United States. Research indicates that medical bills are the cause of approximately 66.5 percent…
Understanding Debt Settlement Debt settlement is an agreement with creditors to settle the debt at a lower sum, typically in a lump sum or a periodical payment plan. It is an in-house contract, which is not regulated by any court,…