There have been well over 500,000 bankruptcies filed every year which may have you thinking if bankruptcy is the right choice for you. I cover the MOST CRUCIAL details about bankruptcy (specifically bankruptcy chapter 7 and chapter 13/ bankruptcy chapter 7 vs 13) including how does bankruptcy affect your credit, can you file bankruptcy without losing your house, how long does bankruptcy stay on your credit report and MUCH MORE so you can make an informed decision.
The two main bankruptcy filings you may hear about is Chapter 7 and Chapter 13 bankruptcies. Both options offer relief but there are certain qualifications for bankruptcy chapter 7 which is a full liquidation. Chapter 13 requires paying back your creditors, but in a more manageable way.
While bankruptcy may be a fresh start, it is not for everyone. I discuss who should NOT file bankruptcy because the damage it can cost might outweigh the benefits of bankruptcy and leave you with 7 or more years of rebuilding.
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Does Chapter 7 include collections?
I need help on how to file !
You are hilarious lol 🎉😂
So you mean the $46.6k debt I owe can be sorted through bankruptcy. I need to carefully consider this option😭 I’m scared because I’m 30 but this could be just what I need.
These interest rates criminal.