What type of debt can I erase in Chapter 7 bankruptcy?
Chapter 7 bankruptcy is often called a “fresh start” because it allows you to get rid of most types of debt. But not all debt is created equal, and some types of debt can be more difficult to get rid of than others. Here’s a look at what type of debt can be erased in Chapter 7 bankruptcy. Secured debts, like mortgages and car loans, can’t be discharged in bankruptcy. That means you’ll still be responsible for paying off those debts even after your bankruptcy is complete. Unse
What Happens When a Chapter 13 Case Is Dismissed?
What Happens When a Chapter 13 Case Is Dismissed? A Chapter 13 bankruptcy is a court-supervised repayment plan for individuals with regular income. Under this type of bankruptcy, debtors propose a 3- to 5-year repayment plan to creditors. Creditors are required to accept the plan unless it is "unfair" or "undue hardship." If the debtor successfully completes the repayment plan, the remaining debt is discharged. However, if the debtor falls behind on payments, the bankruptcy c
Is It a Good Idea To Lease To Own a Car?
There are a few things to consider before making the decision to lease to own a car. First, it is important to be aware of the total cost of the vehicle. This includes the price of the car, plus any taxes and fees associated with leasing it. Second, it is important to consider how long you will need the car. If you only need it for a short period of time, leasing may be the better option. However, if you think you will need the car for an extended period of time, owning it ou
Car Co-Owner vs. Co-Signer: What’s the difference?
When it comes to financing a car, there are a few different options available. One option is to have a co-signer on the loan. Another option is to have a co-owner on the loan. So, what’s the difference between these two options? A co-signer is someone who agrees to sign the loan agreement with you. They are responsible for making sure that the payments are made on time. If you default on the loan, they will be responsible for paying off the entire balance. A co-owner is someo
Is Auto Loan Pre-Approval a Good Idea When Buying a Car?
If you're car shopping, you may have been told that you should get pre-approved for a car loan before heading to the dealership. Is this really a good idea? There are some benefits to getting pre-approved for a loan before shopping for a car. For one thing, it can give you an idea of how much money you'll be able to borrow and what kind of interest rate you can expect. This can help you narrow down your choices to vehicles that fit both your budget and your needs. Getting pre
What To Do if the Trustee Says You Owe Money to the Estate
If you have been named as a trustee in a will, you may be wondering what to do if the trustee says you owe money to the estate. Here are a few things to keep in mind: First, it is important to understand that as trustee, you have a fiduciary responsibility to the beneficiaries of the estate. This means that you must act in their best interests, and must not take any actions that would benefit yourself or any other party at the expense of the beneficiaries. If the trustee says
Why is Chapter 13 Probably A Bad Idea?
1. If you're considering filing for Chapter 13 bankruptcy, you might want to think again. Here's why Chapter 13 is probably a bad idea. 2. Chapter 13 bankruptcy will stay on your credit report for seven years, making it difficult to get new lines of credit or loans during that time. 3. In addition,Chapter 13 bankruptcy can be expensive. You'll have to pay attorney's fees, filing fees, and other costs associated with the bankruptcy process. 4. Finally, Chapter 13 bankruptcy ma
Can I file Chapter 13 without my spouse?
Filing for bankruptcy is a difficult decision to make. Chapter 13 bankruptcy allows you to keep your property and repay your debt over time, but it requires you to have a regular income. You may be wondering if you can file Chapter 13 without your spouse. The answer is yes, you can file for Chapter 13 bankruptcy without your spouse. However, there are some things you should consider before doing so. For example, if you have joint debt with your spouse, filing for bankruptcy w
Corporate Bankruptcy Explained
Corporate bankruptcy is a legal process that allows a company to reorganize or liquidate its assets in order to pay back creditors. It is a last resort for companies that are struggling to stay afloat and cannot repay their debts. The process is overseen by a bankruptcy court and can be very complex. Here, we will explain the basics of corporate bankruptcy and how it works. When a company files for corporate bankruptcy, it is essentially admitting that it cannot repay its deb
"Auto Loan Charge Off"
Auto Loan Charge Off What is an auto loan charge off? An auto loan charge off is when a lender decides that a borrower has defaulted on their loan and will not be able to repay the debt. The lender will then write the loan off as a loss on their books. This can negatively impact the borrower's credit score and make it difficult to obtain future financing. How can borrowers avoid an auto loan charge off? Borrowers should try to stay current on their payments and communicate wi
