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Chapter 7 Bankruptcy Archives

Chapter 7 bankrutpcy and a TSP loan

Over the course of time, some Kentucky federal employees may decide to take out a loan against their Thrift Savings Plan (TSP). Such an action may provide the individual with the funds needed to meet an immediate need. However, it is important to remember that TSP loans are treated differently from other loans throughout the Chapter 7 bankruptcy process.

Debt settlement or Chapter 7 bankruptcy?

The television advertisements are appealing. When one is struggling to pay debts, debt settlement agencies are available to assist in reducing or eliminating debt. While the services offered by these companies are appealing to many Kentucky residents, the benefits of such action versus filing for Chapter 7 bankruptcy should be carefully analyzed.

Chapter 7 bankrutpcy answer to rising debt

Housing, cars, clothing and food -- each of these items are a necessity for the Kentucky family. However, each of these items can also be a major expenditure for the family. As these costs climb, the average individual or family often struggles to keep up with the rising costs and the increased debt that each can bring. At times, the debt load can become too much, and action needs to be taken in order to recover and keep up financially. When this happens, Chapter 7 bankruptcy may be the answer.

Chapter 7 bankrutpcy and medical debt

For 12 years now, personal bankruptcies in the United States have been on the decline. For those Kentucky residents who have been able to struggle through and overcome financial crisis, this is great news. However for those who are still in the midst of the financial battle, filing for Chapter 7 bankruptcy may be in their best interest.

Chapter 7: Moving past reservations and pursuing debt relief

Many individuals in Kentucky and across the country have experienced the financial strain of dealing with the burdens of debt. Should these hardships persist, a person might consider seeking relief from debt through Chapter 7 bankruptcy, but he or she may be hesitant to make such a major decision. However, seeking advice on the potential outcome of a bankruptcy could help one overcome any reservations and pursue a healthier financial future.

Chapter 7 bankruptcy can happen to anyone

Some people just seem to have it all. On the surface, it appears that these Kentucky residents have a good job, a beautiful home and money in the bank. However, the reality of the situation for many is that the picture presented to friends and family is far from the truth. Once one begins to move forward financially, the temptation to live beyond one's means is great. The simple fact is that many who find it in their best interest to file for Chapter 7 bankruptcy are those that appear to have it all.

Chapter 7 may be a better solution than payday loans

The overwhelming feeling of being out of money before all the bills are paid is something many in Kentucky can appreciate. While the option of filing for Chapter 7 bankruptcy may provide some with relief from their debts, some may first try alternative methods of debt relief. Unfortunately, far from providing a solution, some of these methods compound the situation.

Chapter 7 bankruptcy or tap into accounts to pay off debt?

Debt consolidation loans, credit cards offering an interest free balance transfer option, home equity loans and even retirement accounts all offer the Kentucky resident options to pay off debt. In some cases, one of these options may be a good idea. However, depending upon the individual and his or her circumstances, Chapter 7 bankruptcy may be a more appropriate choice.

Petitioner accused of hiding assets in Chapter 7 bankruptcy

As with most things in life, filing for bankruptcy involves paperwork. This paperwork is an integral part of the process, and the finalized copies are likely to become court documents in Chapter 7 proceedings. With this in mind, it is essential that the Kentucky resident filing for bankruptcy is as accurate as possible when completing these documents.

Chapter 7 bankrutpcy can provide financial recovery

Some things in life can be controlled. For many Kentucky residents, it is possible to control how much they spend on the extras like eating out and going to the movies. This ability to control expenses goes a long way in helping to curb credit card debt. However, other things in life, such as medical expenses, often cannot be controlled as easily. In this case, when things get out of hand, Chapter 7 bankruptcy may be the way to bring personal finances back under control.