Debt is a problem that many Americans face every day. Sometimes, people may find themselves in situations where they are unable to pay off their debts on time. When this happens, filing for bankruptcy can be a viable solution to help them get a fresh start. However, filing for Chapter 13 bankruptcy can be complex and time-consuming. Fortunately, a Chapter 13 bankruptcy attorney can help you navigate the process. In this blog post, we will discuss the benefits of hiring a Chapter 13 bankruptcy attorney.
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Are you considering bankruptcy to give yourself a financial fresh start, but worried about the impact on your credit score? You'll definitely have the following questions before you move forward.
Why Does Your Credit Score Matter After A Bankruptcy?
That three-digit number that makes up your credit score plays a big part in your ability to borrow money in the future. If you are filing for bankruptcy then it is likely you do not have the cash on hand to make a major purchase.
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If you are filing for bankruptcy, you'll want the process to go as smoothly as possible. However, people sometimes make mistakes before or during the process that cause a simple bankruptcy to become complex and expensive. Here are some tips to be aware of so you can avoid making mistakes.
Don't Get Ahead Of Mortgage And Car Payments
You'll need to keep making regular payments for assets that you are planning to keep, such as your car and your home.
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When going through the bankruptcy process, it can be a lot of work to gather all of the information you need to get it filed in the first place. If you don't gather your information completely, you could be missing some creditors and if you don't include them in your bankruptcy, you may need to have your bankruptcy reopened and amended to include anyone you missed, and that's only if your bankruptcy trustee approves it being amended.
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When you look at your bills, do you often wonder how you will pay them? Do your balances keep increasing each month, and do you wonder if you will ever pay them off? When people reach this point in their finances, they often turn to professional help. Filing for bankruptcy is one option you can consider, but here are three things to know about Chapter 7 bankruptcy before choosing it.
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