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Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

Filers can typically retain the home and vehicle as long as you make payments on the loan. In many cases, you will lose secured assets such as your home and vehicles. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt.

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What Is the Difference Between Chapter 7, 11, and 13 Bankruptcies?

Credit Corp

Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. The Trustee’s office then pays various creditors.

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How Does a Debt Consolidation Program Work?

Titan Consulting

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. The main strategy in any debt consolidation strategy involves replacing one debt with another debt, usually with a lower interest rate or monthly payment.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

Unlike Chapter 7, Chapter 13 bankruptcy enables you to decrease the interest rate on your vehicle loan and, in certain situations, the total amount owed. It’s a relatively straightforward technique to eliminate the majority of your debt. . Chapter 7 is a disaster when it comes to secured debt. .

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Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

You can consolidate all different types of debt – and the result is a simplified repayment process that involves a single payment each month. It works by getting one new loan and using that to pay off multiple existing creditors. So if you alter the habits that led to that debt and make your payments on time (every time!),