The upsides of telling your children about financial issues
The way you handle financial issues within your family is, of course, up to you. Some parents who are facing bankruptcy try to keep their kids in the dark, while others prefer to tell them exactly what’s going on. If you’re unsure what to do, though, you should consider these upsides to telling them: — […]
Do garnishments stop automatically after bankruptcy?
Your wages are being garnished because of what you owe, and you finally just decide to declare bankruptcy. You want to eliminate the debt, stop the garnishments and move forward with your life. You file, and then the garnishments keep happening. You’re furious, but your employer keeps taking the money out of your checks. Why […]
Getting married when your significant other went bankrupt
You’re thinking about getting married, but your significant other has already declared bankruptcy or is thinking about doing so. You’re wondering what this means for your future. Here are a few things you should know. First off, credit scores are for individuals, not couples. Lenders won’t see his or her bankruptcy on your report and […]
Gander Mountain gets ready for bankruptcy
Gander Mountain got its start in Wisconsin. Back then, it was just based out of a small town, and it was a catalogue company, allowing people to order what they wanted and have it shipped to them. This was long before the Internet era, in the 60s, and the company thrived. That now appears to […]
What if your spouse files for Chapter 7 bankruptcy?
You and your spouse have plenty of joint accounts. You opened a credit card account together, you bought a house, and you bought a new car. You both co-signed on everything because it made it easier to get the loans that you wanted. Now, your spouse has decided that he or she can’t pay the […]
Rebuilding after Chapter 7 bankruptcy
If you’re thinking about using Chapter 7 bankruptcy, you want to look at the big picture. What assets will be liquidated? What do you get to keep? What does the bankruptcy filing mean for your future? One of the key things to consider is what you’re going to do after you file to rebuild your […]
How Chapter 7 bankruptcy can change your life
Bankruptcy has taken on something of a negative connotation, perhaps due to the fact that you need to be struggling financially to consider it. The reality, though, is that it can be a hugely positive event for those who have run into financial troubles. For example, your wages may be garnished to pay your creditors. […]
Do you lose all assets when filing for Chapter 7 bankruptcy?
Chapter 7 bankruptcy liquidates your assets. They’re sold off, the money is paid to your creditors, and the debt is erased. The money paid is typically far less than is owed, but it still gives the creditors something as you get a clean slate. Naturally, people are often rather concerned about doing this because they […]
What does a reaffirmation agreement do during a bankruptcy? Pt.2
Last time, we were discussing a reaffirmation agreement in a Chapter 7 bankruptcy. This agreement allows you to keep a vehicle by “reaffirming” the terms of the loan. To be eligible for this agreement, you typically need to be current on your payments and capable of making the remainder of the outstanding payments of the […]
What does a reaffirmation agreement do during a bankruptcy? Pt.1
One of the more complex aspects of your Chapter 7 bankruptcy is the matter of your vehicle and whether you should reaffirm that loan obligation. It is likely if you live in the Appleton region, you need a vehicle to get to and from work. The question is, do you need this particular vehicle? The […]
