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Posts tagged "Chapter 7 bankruptcy"

Know the benefits of Chapter 7 bankruptcy

Last week, we discussed some of the special considerations for people who are thinking about filing for Chapter 7 bankruptcy. While those considerations might worry some people who are thinking of filing for Chapter 7, there are some benefits that might outweigh them.

Special considerations for a Chapter 7 bankruptcy

Filing for a Chapter 7 bankruptcy is a serious undertaking that involves taking a close look at every aspect of your finances. As you work through the process, you might notice that you have some special circumstances to consider. Each of these circumstances can have a big effect on whether a Chapter 7 bankruptcy is right for you or not.

A primer for bankruptcy in Washington State

Bankruptcy is a major financial step that should never be taken lightly. If you have found yourself in dire financial straits, however, you may benefit from the provisions included in Washington's bankruptcy law. Understanding the rules about bankruptcy can be rather tricky, so we will provide you with a quick primer about the process.

Discharge dates differ with Chapter 7, 13 bankruptcies

Washington residents who have filed for bankruptcy are probably waiting with bated breath to find out when their official discharge date will arrive. The discharge is the final settlement, or formal forgiveness, of qualifying debts that occur after a bankruptcy petition has been fully processed. So, how do you know when your discharge date is set to occur? The answer can be different for Chapter 7 bankruptcy and Chapter 13 filers.

Consider payoff time when choosing Chapter 7

How long would it take you to pay off your Washington consumer debt? Experts say that those who are facing financial difficulties may benefit from Chapter 7 bankruptcy if debt repayment is anticipated to take five years or more. Although it is critical to consider the impact that bankruptcy could have on your credit score, experts say that liquidation bankruptcy could be a viable option for those who are facing serious, immediate financial troubles.

Politicians file for personal bankruptcy, too: Medical debt looms

Would you trust a politician who has filed for bankruptcy? Although your first instinct might be a judgmental one, wait just one minute -- politicians and public figures suffer misfortune just like the rest of us Washington residents. The fact remains that bankruptcy can be precipitated by a variety of unfortunate events, as demonstrated by one nearby Oregon politician.

Hispanic Chamber shutters doors, seeks Chapter 7 protection

The Hispanic Chamber of Commerce in Yakima County, Washington, is filing for bankruptcy and is almost certainly headed for dissolution. The organization is seeking protection under Chapter 7 bankruptcy protections after it lost a major lawsuit. News reports show that the man received nearly $15,000 from the chamber. The chamber was sent into bankruptcy because it had only about $500 in listed assets, with the lawsuit award as an outstanding liability.

Bankruptcy as the 'nuclear option' for debt

If you are one of the many Washington residents who is facing a debt judgment, you may be considering bankruptcy as one of your financial options. Experts say that bankruptcy is often referred to as the "nuclear option," which means that it completely wipes out your debt and effectively ends creditor harassment. Although this may sound like a process that would benefit nearly anyone, bankruptcy does come with some challenges. Washington residents are encouraged to carefully consider whether Chapter 7 or liquidation bankruptcy would truly benefit their finances.

Filing bankruptcy with only modest amounts of debt

Washington residents who are facing financial problems may wonder if bankruptcy is the right option for them. In some cases, Chapter 7 bankruptcy may provide an important fresh start for consumers who are wanting to stop creditor harassment. One woman asks whether she should consider filing for Chapter 7 bankruptcy if she is facing $12,000 in debt and a job loss.

Loan agency accused of creditor harassment, bankruptcy abuse

Washington residents with student loans: beware. Loan monitors throughout the nation are reportedly using unscrupulous tactics in an effort to collect overdue balances on student loans, many of which cannot be discharged during personal bankruptcy proceedings. An investigation into the agency that monitors student loan administration throughout the nation reveals widespread abuse of student loan borrowers, many of whom are suffering from extreme financial hardship.

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