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Filing For Bankruptcy - No, You Are Not a Slacker If You File Chapter 7 Bankruptcy

Filing For Bankruptcy - No, You Are Not a Slacker If You File Chapter 7 Bankruptcy
"""A deadbeat is a person who knowingly and voluntarily shirks responsibility for repaying his or her debts. Those who have fallen behind on their debts due to a divorce, a medical emergency, or a loss of income due to termination should not be regarded as deadbeats. The unfortunate reality is that in the eyes of your creditors, someone who racked up a huge credit card bill gambling and someone who was compelled to max out their card due to a medical emergency are the same, and they will treat you like trash.

Chapter 7 Bankruptcy: Will I Be Able to Obtain Credit Again?

If you have credit card debt up to your eyeballs, the last thing you want is credit. However, credit is an essential aspect of our lives. Unless you are extraordinarily wealthy, you cannot buy a home or a car with cash. And if you were extremely wealthy, you would not be contemplating bankruptcy.

With a few exceptions, when you file for Chapter 7 bankruptcy, your debts are discharged. Your credit score begins a gradual recovery, and you'll soon be back on your feet. Unconcerned about how to pay your expenses or whether or not you will be sued.

Chapter 7 Requirements

Look, nothing is worse than being stressed out about paying expenses and dealing with a jerk who threatens to sue you for everything you own over the phone. You want to provide a wonderful life for your family, but life has dealt you some lemons, so you must now make lemonade.

Chapter 7 bankruptcy is the initial step in reorganizing your finances and climbing out of debt. The procedure is straightforward: you consult with a bankruptcy attorney and provide a clear picture of your financial situation, including bank records, pay stubs, and a list of your debts. Chapter 7 is then filed with the court by your bankruptcy attorney, and a judge will either grant you a discharge or request additional evidence.

Thereafter, you are debt-free! It's time to take control of your spending behaviors and pay close attention to your income and expenses.""

" - https://www.affordablecebu.com/
 

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"Filing For Bankruptcy - No, You Are Not a Slacker If You File Chapter 7 Bankruptcy" was written by Mary under the Finance / Wealth category. It has been read 162 times and generated 0 comments. The article was created on and updated on 02 June 2023.
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