Consumer bankruptcy

Legal proceeding

What is an Adversary Proceeding and Its Types?

During any time within the bankruptcy process, any of the parties involved may choose to file for an adversary proceeding. This article will seek to explain what an adversary proceeding is, how it works, and what are its main types. What is an Adversary Proceeding? An adversary proceeding is a type of lawsuit that is …

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Secured Claims vs. Unsecured Claim

Secured Claims vs. Unsecured Claim – The Difference Explained

A claim is a term used to describe the outstanding debt a person owes to a specific creditor. In bankruptcy, a creditor must file their claim first in order to receive payment. There are two types of claims that a creditor can file – secured and unsecured. The main difference between the two is that …

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credit squeeze, taxation, purse

Should You File for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy?

Chapter 7 bankruptcy and Chapter 13 bankruptcy are two common legal options with different consequences, but both are helpful for borrowers who have accumulated too much debt. Chapter 7 bankruptcy can help clear some or all of the debt. However, if you file for this type of bankruptcy, you will have to surrender assets such as cash or property. Chapter 13 bankruptcy helps you get some of the debt discharged, but you get to keep your property, and you can repay your debts through a repayment plan. If you have accumulated too much debt and want to file for bankruptcy, you would want to determine which type of bankruptcy would be right for you. We will help you with this.

Car Repossession

Can You Get a Car Loan After Bankruptcy?

Thinking about buying a car after bankruptcy? Well, getting approved for a loan might seem impossible since bankruptcy can stay on your credit report for at least seven years. However, there is still hope because there are lenders out there who work with people who have a bankruptcy on their report. The caveat, however, is that your interest rate will be very high. Saving some cash for a down payment and improving your credit by making timely payments may help increase your chances of securing a car loan.

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