Bankruptcy is something many people turn to when they are experiencing major financial problems with debt, and many people find that Chapter 7 seems to be the more favorable choice when compared to Chapter 13. While there are times when Chapter 13 is a more advantageous option for some people, here are the top three reasons many people prefer Chapter 7 over Chapter 13. It is faster One key difference between Chapter 7 and Chapter 13 is the amount of time it takes from the point in which you file the documents until the point where the court discharges the case.
After talking to a lawyer about your financial situation, you may decide that filing for Chapter 7 is a good move for your future. If so, there are several key things you should expect right after you file, and here are two of those things. Your Creditors Will Stop Contacting You Any creditor that you list on your bankruptcy documents will receive notification from the bankruptcy courts, shortly after you file, about your bankruptcy filing.
Sometimes things can happen in your life that can lead you down a financial path of negative consequences. This path your led down can become so bad that you can't see the light at the end of the tunnel. When you find yourself in this position you may feel out of options. However, there is an option available to you that can help you to get out of some, if not all, of that overwhelming debt that's causing you so much stress.
When you find yourself in a situation where you can't pay back your debts, you may feel the need to turn to bankruptcy to get you out of your financial problems. However, with there being many forms of bankruptcy, you may be struggling to figure out which one is best for your financial situation. Here are some tips for making the right choice. Look At Your Debts Start by examining what kind of debts you are carrying, since it can play a big impact on your bankruptcy filing.
The connection between the need to declare bankruptcy and credit card use is pretty strong; those little pieces of plastic can easily wreak havoc on people's financial situations. There is another way to connect these two issues, however, and they involve the use of credit cards just before declaring bankruptcy. Read on to learn how to avoid being accused of bankruptcy fraud for credit card use. Two forms of debt