Chapter 7 bankruptcy refers to a specific type of personal bankruptcy. A type of bankruptcy where your debts are discharged, and you are given a fresh start. This bankruptcy is not for everybody, and you may not qualify for one. Your annual income will need to be below the median income for your state. But the following are a few signs that you are heading in that direction of a Chapter 7 bankruptcy.…
Read More »Whenever a person is experiencing severe financial problems, he or she might wonder whether to file for bankruptcy. Determining whether or not to file is not an easy decision for most people, as there are consequences of filing, but you might be able to find the answer to this question by analyzing the following three questions. How Much Will It Cost to File? The first thing you might want to evaluate is the costs of filing for bankruptcy.…
Read More »When things go wrong with your finances it may not matter how much income you have coming in. People of all income levels get their financial situations in a mess and a high level of pay might not mean you are immune to making mistakes. The problem is that if your income is too high you won’t be able to file for a chapter 7 bankruptcy. Read on to learn more about this unfortunate situation and how you can cope with it.…
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