Bankruptcy
Personal Bankruptcy
When you are in debt, creditors are hounding you, you’re afraid of losing your home or car, and it may seem like you’ve run out of options. Personal bankruptcy is considered the last resort because the results are long-lasting. Bankruptcy stays on your credit report for 10 years and makes it difficult to obtain credit, buy a home, get life insurance, or sometimes get a job. While this doesn’t sound too good, it is a legal procedure that offers fresh start.
There are two types of personal bankruptcy; Chapter 13 and Chapter 7. Both must be filed in federal bankruptcy court and the filing fees for Chapter 13 is around $183 and $200 for Chapter 7. Of course, attorney fees are additional and vary.
Read all of our articles on Bankruptcy to get the answers you need.
Chapter 13 Bankruptcy - What You Need to Know Before You File
Chapter 7 Bankruptcy - What You Need to Know
Chapter 7 Bankruptcy - Important Information
Chapter 7 Bankruptcy - What are the Facts?
What You Need to File Bankruptcy
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