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Credit Repair Service Scams make False Promises and Increase Your Debt. Reputable credit counselors provide advice on managing your money and debts and help you develop a plan to deal with your financial problems. For people who are drowning in credit card debt, this help is invaluable.

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Chapter 13 Bankruptcy can Help, but it’s not the only Strategy for Debtors. Most individuals who file for bankruptcy file a Chapter 7 liquidation bankruptcy. If you don’t pass the means tests for a Chapter 7 bankruptcy, then your other bankruptcy option is a Chapter 13 debt reorganization.

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There’s an old adage that nothing is certain except death and taxes. Even though you may be able to address some tax debt with a bankruptcy filing, you still must file a federal tax return with the IRS. Chapter 13 bankruptcy lets individuals and small business owners develop a plan to reorganize their debt and repay their creditors.

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Whatever the reason for their debts, filing for bankruptcy is often the best way to get a financial fresh start. Generally, individuals will either file a Chapter 7 or Chapter 13 bankruptcy. A Chapter 7 bankruptcy eliminates unsecured debts, but to qualify, you must have little or no disposable income.

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When people with low incomes cannot pay their debts, they get frequent calls and letters from bill collectors and are under constant stress from financial uncertainty. Chapter 7 bankruptcy provides people with debts they cannot pay a way to start over financially.

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United States Trustees oversee bankruptcies in the federal bankruptcy courts. These trustees are appointed by the U.S. Attorney General. The duties of United States Trustees include the following...

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Bankruptcy law is often misunderstood. Many people who could benefit from filing for bankruptcy do not file because they do not know the truth about bankruptcy. Here are some myths and the true story about bankruptcy.

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It might start with one missed payment, but before you know it, you can wind up in a position that it seems impossible to ever climb out of debt. As your debt increases, so does your stress. Bill collectors call constantly. Credit cards are rejected at the store.

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Chapter 7 bankruptcy stays on your credit report for 10 years, while Chapter 13 stays on for 7 years. Unfortunately, a low credit score can even raise your auto insurance rates in many states. It may seem like an uphill battle after you emerge from bankruptcy, but your credit score can improve substantially in just a few years.

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