Debt accumulation is an issue millions of Americans deal with and comes in many various forms. Consumer debt is one of the most common debts, originating from the likes of credit cards and payday loans. High interest rates can make it nearly impossible to become debt-free, forcing people to consider bankruptcy as a viable debt relief…
Debt accumulation is an issue millions of Americans deal with and comes in many various forms. Consumer debt is one of the most common debts, originating from the likes of credit cards and payday loans. High interest rates can make it nearly impossible to become debt-free, forcing people to consider bankruptcy as viable debt relief…
Lawyers refer to Chapter 7 bankruptcy as “liquidation bankruptcy” for a reason. During the process, assets are identified and categorized as either exempt or nonexempt. You are expected to honestly identify all of your assets to the courts or face legal repercussions. The topic of exempt and nonexempt assets is a state-to-state issue with an…
