Remove advice relief-options tax-debt
article thumbnail

What Is A Debt Relief Order?

Hudson Weir

If you’re struggling with personal debt, you may be searching online for ‘debt relief order UK’ looking for a solution to your troubles. At the time of writing you cannot currently apply for a debt relief order (a DRO) in Northern Ireland, or Scotland where the Minimal Asset Process is arguably the nearest equivalent.

article thumbnail

Pros and Cons of Chapter 13 Bankruptcy

Sawin & Shea

Filing for Chapter 13 bankruptcy can provide much-needed relief if you are overwhelmed with debt and struggling to keep up with payments. Under Chapter 13, you repay a portion or all of your debt, allowing you to keep assets like your home or car. Consolidating multiple debts into one payment is easier, too.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Retirement Savings in Bankruptcy in Broomfield, CO

Debt Free Colorado

Bankruptcy is Not Always Disadvantageous for Your Retirement Savings In today’s economic landscape, unforeseen challenges can lead individuals to consider bankruptcy as a viable option. Quick Summary: Bankruptcy can be a viable option amid economic challenges and advantageous for retirement savings with proper guidance.

article thumbnail

Short Sales and Bankruptcy

Sawin & Shea

If you are struggling to pay your mortgage and owe more on your house than the house is worth, you have several options. None of these options are miracle cures — they each come with pros and cons worth considering. One of these options is a short sale. Remember that you may still owe taxes after a short sale.

article thumbnail

What Are The Types of Bankruptcies & How Do I Choose One?

Debt Free Colorado

The options include Chapter 7, Chapter 11, and Chapter 13. When a business or an individual cannot meet financial responsibilities or pay to creditors, there is an option to declare bankruptcy. Bankruptcy is a legal process to discharge debt and starts with a bankruptcy petition filed in court. Secured debts can be discharged.

article thumbnail

Coronavirus Business Support: How Can I Protect my Company?

Hudson Weir

We understand that many directors and business owners are becoming increasingly concerned, so we’ve prepared the advice below to offer immediate coronavirus business support. If you’re unable to ensure company debts are paid, you could be found guilty of wrongful trading if you allow the situation to become worse.

article thumbnail

Credit Card Debt Forgiveness: What You Need to Know

Credit Corp

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. It’s crucial to fully understand the terms and consequences before pursuing debt forgiveness and to explore other options such as debt management or consolidation.