Helping People Recover from a Debt Crisis

Payday Loans And Chapter 7 Bankruptcy

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Payday loans have a bad reputation, but for those in desperate financial straits, there may be no alternative. Unfortunately, being in desperate financial straits can lead to another inevitability, a bankruptcy filing. While you may know that the vast majority of your debts can be wiped out with a Chapter 7 filing, you may also know that some debts will remain after the bankruptcy. It’s in your best interest to get the most debt forgiveness possible with your bankruptcy filing, so read on for a better understanding of how payday loans are treated when filing for a Chapter 7 bankruptcy. Read More»

Are You Eligible For Chapter 7 Bankruptcy?

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Chapter 7 bankruptcy can seem preferable to chapter 13 for many people, since you won’t have to repay any of your debts under chapter 7. This gives you the means to start with a fresh slate financially. Not everyone qualifies for chapter 7, though. The following guide can help you determine if it is a viable option for you. The Means Test You must prove that you do not have the means to repay your obligations in order to qualify for chapter 7 bankruptcy. Read More»

What Happens In A Debt Collection Lawsuit?

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According to Credit.com, there are seven different ways to defend a debt collection lawsuit. With so many different options to consider, it is normal for you to wonder what to expect. Two Most Effective Defenses There are just two defenses that tend to be effective when it comes to debt collection lawsuits. The first will allow the consumer to provide evidence of the debt not belonging to him or her. The second involves a defense that will aid the consumer in reaching a lower settlement price for the debt acquired. Read More»

Faqs About The No Asset Bankruptcy

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When you file for Chapter 7 bankruptcy, the trustee has the right to take possession of some of your assets so that he or she can sell them to pay off creditors. However, if you do not have any assets that the trustee can take, you might have to file a no asset bankruptcy. Here is what you need to know about the process.  What Is a No Asset Bankruptcy? Read More»

Addressing Common Questions About Filing For Bankruptcy

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There is a common misconception that people only need to file for bankruptcy because they have been irresponsible with their money. However, this is not always the case, and there are a variety of things that can force a person to seek this type of protection. You may not be familiar with this type of legal protection, and as a result, you may benefit from learning the following answers to common bankruptcy law questions. Read More»