Bankruptcy can’t write off criminal fines or restitution. But it can help in other crucial ways.
Debts related to alleged criminal behavior generally can’t be written of in bankruptcy. But bankruptcy can often still help.
The trend of reduced cost increases should at least partially continue even as the economy improves. But it’s a different story for your personal budget.
Health care costs have been rising more slowly. Although this is partly tied to the poor economy, some of the change appears to be more long lasting.
This year’s deficit is now expected to be about 59% as much as last year’s, and the next five years’ deficits even less.
Chapter 13 is bristling with tools to help you manage your mortgage and vehicle loan.
Would you like to favor certain important creditors over others? Often, Chapter 13 makes this possible.
What if your income is too high, all your assets aren’t protected, you’re not current on your secured debts, and you can’t write off all your debts?
What happens to the personal possessions and tools of trade that you gave as collateral on a loan?
What happens to the furniture, computer and such that you owe money on? Can they be protected under both Chapters?
See these bullet points on dealing with your home lender under Chapter 7 and under Chapter 13.
File under Chapter 7 if you don’t need lots of help keeping your vehicle. File under Chapter 13 if you do.
Put aside all the detailed advantages and disadvantages of these 2 options. The core difference is how each uses time in your favor.
Can serious debt problems be solved through settlement, consolidation, or sometimes even by simply not paying? What are the advantages/disadvantages?