Can You Declare Chapter 7 Bankruptcy and Keep Your Home?
Declaring bankruptcy is a last resort for people in extreme financial difficulties, but in some cases, it’s the only way to get out from under a mountain of debt. One concern that many people have about filing for bankruptcy is whether they can keep their home. Let’s take a closer look at this important question.
Under Chapter 7 Bankruptcy Rules
The traditional form of bankruptcy is known as Chapter 7. When you declare bankruptcy under this section of the Bankruptcy Code, you are putting your assets at risk. The bankruptcy trustee will typically take your available assets to pay off your creditors unless the assets are exempt from forfeiture by state or federal law. (more…)
Anyone can suddenly discover their debt has overtaken their ability to repay their bills. Many people have more than their credit to worry about when they decide to file bankruptcy. Parents that avoid the process often do so because they believe the filing could make life difficult for their children. Bankruptcy may cause complications, but it does not have to end any dreams.
Do you owe back taxes? Have you received payment demands or other worrying letters from the Internal Revenue Service (IRS)? Owing money to the IRS can be scary and confusing, but luckily, you have options. Here is a look at just five of the potential routes you may be able to take with your tax payment.
Any single parent knows the struggle of trying to raise a child, but that difficulty only increases when bills begin to pile up. You may find that you are not able to afford the lifestyle you once had, or perhaps you realize that your child is suffering because of it.