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Chapter 7 Bankruptcy Archives

The Chapter 7 bankruptcy process

A great deal of the information available pertaining to bankruptcy filings is not necessarily reliable. Some Kentucky residents may be hesitant about the prospect of filing for Chapter 7 bankruptcy. However, a bankruptcy filing can sometimes be the best decision for a stronger financial future.

Chapter 7 bankruptcy can help with credit card debt

Credit cards are a common feature in many people's wallets. While it can be difficult to imagine a life without easy access to these lines of credit, high interest rates can make it difficult for some people in Kentucky to repay what they owe. For some, Chapter 7 is the best option for handling overwhelming consumer debt. 

Purchasing a vehicle during Chapter 7 bankruptcy

Filing for bankruptcy can have many different effects on the finances of the individual who files. Here in Kentucky and elsewhere throughout the nation, a certain amount of confusion exists as to how Chapter 7 bankruptcy actually works and what is (and is not) allowed. It is vital for an individual seeking bankruptcy to solve debt problems to understand the process, and how filing affects financial decisions.

Chapter 7 may help Kentucky residents keep their homes

Many Kentucky residents will face some type of financial hardship during their lives. In some cases, those difficulties may even put homes at risk of foreclosure. When this happens, families may wonder what they will do if they lose their homes, but before thinking of the worst case scenario, parties may want to consider Chapter 7 bankruptcy as an option for stopping or slowing down foreclosure efforts.

If finances veer off-track, Chapter 7 may be a solution

For many young adults in Kentucky, learning how to budget finances is a high priority. A lot of people graduate from college, are unable to find jobs in careers pertaining to their degrees and soon find that just making ends meet is a much bigger challenge than they'd expected. When financial problems get out of hand, it is helpful to know that tools, such as Chapter 7 bankruptcy, may be viable solutions.  

More seniors filing for Chapter 7

It is widely accepted that post-retirement life, or the so-called Golden Years, are meant for enjoying the fruits of a lifetime of labor. However, for some Kentucky seniors, this could not be further from the truth. A tough economy is taking its toll on the over-65 crowd, leading many to seek solutions for growing debt. Thankfully, a Chapter 7 bankruptcy can be very helpful in this instance, if debtors file with time to spare.

Handling debt, from consolidation to Chapter 7

According to recent studies, the average American consumer debt has now crested a record high of $13.2 trillion, which means the American adult carries an average of $40,000 in debt. This might sound daunting to Kentucky residents handling this level of debt, much of which can be attributed to credit cards, auto loans and other debts. Thankfully, many people have managed to overcome massive debt by making use of debt-reduction tools and practices, from debt consolidation all the way to Chapter 7 bankruptcy.

Chapter 7 a possible route to handling debt

For many Americans, debt is a reality of day-to-day life. Kentucky residents know debt can accrue for many reasons, from unforeseen medical debt to a loss of income leading to credit card spending. Thankfully, the options for households facing serious debt are diverse -- from credit counseling to Chapter 7 bankruptcy, there is a solution for every family.

Securing a car loan following Chapter 7 bankruptcy

One of the major concerns people who file for bankruptcy justifiably express to financial experts is that a filing will ruin their chances of securing a loan. However, Kentucky residents who file for Chapter 7 bankruptcy may be increasing their chances by clearing their existing debt and preparing for the road back to better credit. While not all lenders can or will work with someone who has filed for bankruptcy, the door is still open for someone with a bankruptcy on his or her credit score to secure loans moving forward. 

Handling credit repair after a Chapter 7 filing

For many Americans, the specter of credit card debt is a constant companion. The average family in Kentucky carries a balance of nearly $10,000 in credit debt, which can force some card holders to declare Chapter 7 bankruptcy in order to clear the debt. Thankfully, there are plenty of ways to repair a credit score following a bankruptcy filing.