When talking to people about bankruptcy, the majority can provide some basic information about the two most popular options to include Chapter 7 and Chapter 13. However, along with these two options, a third type of bankruptcy is available for those who qualify. Chapter 11, which is also called “business reorganization bankruptcy”, is designed to [...]
Should You File Bankruptcy Protection
Deciding if you and your family should file bankruptcy is not an easy decision. If it is at all possible, we recommend trying to work out your situation with your individual creditors.
While filing bankruptcy does give you a chance to start over again and rebuild your financial history, there are also consequences you need to consider.
Bankruptcy can be painful. The biggest consequence is that it will reflect the bankruptcy on your credit report for a full 10 years. Find out what the cost is before going forward.
This means that you may not be able to get any other loans or new credit, but this could also happen with a lot of debt so it might be worth the hassle for awhile to start over.
Below you’ll find the posts at Financial Advice Zone from the file bankruptcy protection category.We highly recommend you read each of them if you’re serious about learning more on filing bankruptcy protection