Chapter 7

People in different financial circumstances may qualify for different kinds of personal bankruptcy. Chapter 7 bankruptcy is likely the fastest path to a discharge for someone with high levels of unsecured debt. It doesn't require a repayment plan but rather the...

If you need help obtaining debt relief, it may be a good idea to file for bankruptcy. Typically, individuals will file for either Chapter 7 or Chapter 13 protection. Understanding the difference between these debt relief options may make it easier to make a decision...

The dream of starting or running a business is a big part of being in America. The nation, after all, has a history of being built on big risks that either paid off or did not. But if an enterprise becomes so logged with debt that it is time to sell off parts of it,...

Most people are only one or two paychecks away from financial disaster -- and they simply don't have the resources to handle a major medical disaster, even if they have insurance. The financial strain of chronic or sudden illness is driving many ordinary Americans...

If you are considering filing for Chapter 7 bankruptcy due to your debt, it's important to know the type of debts that can be discharged in this form of bankruptcy. Chapter 7 bankruptcy is best for individuals who are looking to have most of their debt discharged, so...

Should one ask the average Bloomfield resident to describe personal bankruptcy, the most likely answer would be that it forgives a person’s debts. What they are describing is a broad view of Chapter 7 bankruptcy. There is a good reason why most default to this...

As a Connecticut resident currently weighing your bankruptcy options, you may have been looking into Chapter 7, as it is one of the most popular choices. It offers many benefits, though there are some drawbacks as well. Today, we will look at both.According to...

Dealing with the Internal Revenue Service can be a nightmare if you are a Connecticut resident who cannot afford to pay the federal taxes you owe. However, if you try to avoid dealing with the IRS over the taxes owed, it can impose tax liens on your property that...

Filing for bankruptcy can have a major impact on your credit score, as well as your ability to purchase a home, take out a loan or make financial transactions in the future. There are ways, however, that you can rebuild your credit once your bankruptcy has been...

As we discuss in numerous posts in this blog, you may want to explore other options before you file for bankruptcy or go through with a foreclosure. However, you and other Connecticut residents may decide that a personal bankruptcy is the best route to take, after...