There's no worse feeling than receiving a foreclosure notice from your lender. You'll immediately assume that you'll lose your home to repossession in the future. Even though this is possible, you're not in this position just yet.
A bankruptcy filing will impact your personal and financial lives in a number of ways. Even though things have changed, you're now in a position to start fresh and create the future you've always wanted.
If you're considering a Chapter 13 bankruptcy filing, you'll want to compare the pros and cons to ensure that it's the best decision for you and your finances at the present time.
You hope that you never have to learn more about bankruptcy, as this means that you're facing serious financial trouble. Unfortunately, this is a reality for tens of thousands of people every year.
As you learn more about Chapter 7 bankruptcy, it's natural to focus your attention on the benefits. For instance, you're able to reduce or eliminate many forms of debt, giving you a fresh start.
Even when you're in good financial shape, you may have concerns about the future. Many people come to find that an emergency, such as a job loss or medical illness, would make it next to impossible to stay current with their bills.
No matter how hard you try to avoid bankruptcy, there may come a point when you have no choice but to go down this path. However, before you make this decision, be sure it's best for you and your finances.
If your debt is mounting and nothing seems to bring relief, it may be time to consider a bankruptcy filing. As one of the biggest financial decisions you'll ever make, don't jump into the process until you're sure of what you're doing.
As you compare Chapter 7 and Chapter 13 bankruptcy, you want to make the right choice for your unique financial situation. While there are benefits to both, most people find that the advantages of Chapter 7 bankruptcy have them strongly considering this option.
Many Arizona homeowners have been able to delay their foreclosure proceedings -- and prevent the loss of their homes -- by filing for bankruptcy. This benefit may be received by filing for bankruptcy after it is clear that a foreclosure will occur. The bankruptcy then triggers what's referred to as an "automatic stay," which prevents all debt collection activities against you -- including legal actions like foreclosure.