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Month: December 2018

What to do With Your Car Following Chapter 7 Bankruptcy

Contrary to what some people believe, it is not necessary to give away all of your belongings, including motor vehicles, after filing for bankruptcy. If you own a car and file for Chapter 7 bankruptcy, the chances are good that you will be able to exclude a certain amount of the vehicle’s worth. Unfortunately, if the vehicle’s worth is much more than you are able to protect, the bankruptcy trustee who is assigned to your case will likely sell and distribute the remaining proceeds. Chapter 7 [...]

Understanding Common Myths About Bankruptcy

  To many people, the prospect of filing for bankruptcy can be overwhelming. Those people often end up filing for bankruptcy only because the fear of increased debt and continued creditor harassment is even worse. In reality, bankruptcy can be a helpful process and not nearly as scary as it seems. The following are some of the other common myths and concerns that people have about the bankruptcy process. Myth 1: A Person Loses Everything in Bankruptcy Many people are afraid to file for b[...]

How Long Does Chapter 7 Bankruptcy Take?

  The Chapter 7 bankruptcy process allows a person to remove qualifying debt without being required to pay into a repayment plan. People who pass the means test are able to keep the property that they need to maintain their home. There are a number of questions asked by people navigating the Chapter 7 bankruptcy process, but one of the most commonly asked questions is how long a person can expect the bankruptcy process to take. The short answer is that Chapter 7 bankruptcy often takes betw[...]

Things to Consider Before Purchasing a Rental Property

  There are a number of reasons why purchasing rental property in Florida can be a wise idea. Like with many things involving finance, however, a buyer should understand some important details about purchasing property before deciding to do so. The information below review some of the important details that you should consider before purchasing a piece of rental property. Be Prepared to Perform Repairs Many property owners who only have a property or two discover that it is best to know how[...]