Bankruptcy Articles and Information
Articles on Collections, Credit Reports and Bankruptcy
The following information is not legal advice, nor is it intended to be legal advice. It is general information about a variety of bankruptcy-related topics available on our main site, FreshStartLegal.com. The articles will open up in a new window.
How to Clean Up Your Credit Report
You can get one free credit report each year from each of the three major credit reporting agencies. You are entitled to an additional free copy of your report each year if: You've been denied credit because of information in your credit report....
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Your credit report is a detailed record of how you've managed your credit over time. Lenders use your credit report -- or the credit score that results from the datsa in it -- to help them decide whether to grant you credit, and, if so, under what terms....
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What to Do If a Bill Collector Crosses the Line
In order to deal with debt collectors, it pays to learn what they can and cannot do. Although most bill collectors are careful to follow the law when contacting you, some are not. If a bill collector goes too far, you can take action.
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Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as "liquidations" or "reorganizations."
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What Bankruptcy Can and Cannot Do
Bankruptcy is good at wiping out credit card debt, but you may have trouble eliminating some other kinds of debts, including child support, alimony, most tax debts, student loans, and secured debts.
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How Bankruptcy Stops Your Creditors: The Automatic Stay
When you file for bankruptcy, something called the automatic stay immediately stops any lawsuit filed against you and most actions against your property by a creditor, collection agency, or government entity. Especially if you are at risk of being evicted, being foreclosed on...
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Should I File Bankruptcy Now or Wait?
While you may have pressing reasons to consider filing for bankruptcy now, in some situations you may want to wait to file, even if you are eligible for Chapter 7 bankruptcy. If you face an immediate problem that bankruptcy can at least temporarily alleviate, such as a wage garnishment, foreclosure....
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A Chapter 7 Bankruptcy Overview
Chapter 7 bankruptcy is sometimes called "liquidation" bankruptcy -- it cancels your debts, but you might have to let the bankruptcy court liquidate (sell) some of your property for the benefit of your creditors. ("Chapter 7" refers to the chapter of the federal Bankruptcy Code that contains the bankruptcy law.)
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Chapter 7 Bankruptcy -- Who Can File?
Filing for Chapter 7 bankruptcy can be a powerful tool for dealing with overwhelming debt. But it isn't available to everyone. There are several situations in which you won't be allowed to file Chapter 7 bankruptcy.
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When Chapter 7 Bankruptcy Isn't the Right Choice
If you are inclined to file for Chapter 7 bankruptcy, take a moment to decide whether it makes economic sense. You need to consider three questions:
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An Overview of Chapter 13 Bankruptcy
Chapter 13 bankruptcy, sometimes called reorganization bankruptcy, is quite different from Chapter 7 bankruptcy. In a Chapter 7 bankruptcy, most of your debts are wiped out; in exchange, you must relinquish any property that isn't exempt from seizure by your creditors. In a Chapter 13 bankruptcy, you don't have to hand over any property...
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Reasons to Use Chapter 13 Bankruptcy Instead of Chapter 7 Bankruptcy
Many debtors choose not to file for Chapter 13 bankruptcy because it requires repayment of at least a portion of their debts (unlike Chapter 7 bankruptcy, which wipes out many debts entirely )....
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