Tag Archives: file for Chapter 13

Underwater Mortgages: Should You Walk Away from Your Home or File Chapter 13 Bankruptcy to Stop Foreclosure?

The housing crisis isn’t through yet. Home sales are down, in part due to the millions of young would-be homeowners who are struggling to find employment and pay off overwhelming student loan debts. Even recent falling mortgage rates haven’t been enough to boost the real estate market. But it’s not just young adults who are… Read More »

How Long Should I Wait Before Filing for Bankruptcy?

It’s a myth that struggling consumers knowingly spend beyond their means. On the contrary, debt has a tendency to sneak up on most people little by little, day by day. Often times, you don’t notice how large debts have become until they’ve grown far beyond what you can reasonably repay. Just as it’s difficult to… Read More »

When Good Debt Goes Bad: “Good Debts” Interfere with Savings, Too

The good news is that most retirement accounts have recovered from the lows they hit in 2008. So what’s the bad news? Nearly half of middle-class Americans still won’t have enough savings to retire, according to a recent survey by Wells Fargo. The culprit this time isn’t the market; it’s debt – and not just… Read More »

When to File for Chapter 7 Bankruptcy Instead of Chapter 13

There’s a reason Chapter 7 is the most common type of personal bankruptcy: It’s a lot faster than Chapter 13, it doesn’t require filers to pay back a portion of debt and, contrary to popular myth, it allows most people to keep their possessions.  So what’s the biggest drawback to Chapter 7? Not everyone will… Read More »

What Does it Cost to File for Bankruptcy?

It’s true that everything costs money these days and, oddly enough, so does filing for bankruptcy. Regardless of your specific financial situation, there are a few fees that are unavoidable when filing a claim. The first cost you’ll run into is the filing fee, which can be rather substantial. In Georgia, it costs $306 to… Read More »