When you are in a bad financial position, your desperation can cause you to make ill-advised decisions. Scammers realize this and prey on those who are hampered by debts they are unable to pay.
So you finally bit the financial bullet and decided to file for bankruptcy. You may have initially intended to file for Chapter 7 and then learned that you likely wouldn't qualify.
When Tampa debtors filing for bankruptcy have significant assets or income, they are ineligible for filing under Chapter 7, which is a total liquidation. While that might sound like a good deal, it also means that any non-exempt assets can be sold off to pay your creditors.
Have your bills eclipsed your paycheck by a few zeroes? Or maybe your business is going through a bad cycle -- or three. It's easy to get caught up in the cycle of paying overdraft and late fees until you are no longer even paying down the principal of your debt.
If you are struggling to pay your bills, your head may be swimming with potential solutions to your insolvency problem. It's a good idea to try to resolve your debt delinquencies. However, "solutions" can cost you money and offer very few real routes out of debt.
When you get behind on your bills, it can be a scary experience. Creditors blow up your phone with calls and your mailbox is stuffed with dunning letters seeking payment.
If you are staggering under a mountain of debt and have a second mortgage on your home, you may wonder if you could benefit from lien stripping under a Chapter 13 bankruptcy filing.
Indebted consumers who are struggling with a mountain of debt are prime targets for con artists and scammers. The crooks realize that desperate people often are frantic to get out of their financial distress, and they exploit this vulnerability.
Consumers often get uneasy when they fail the means test to file a Chapter 7 bankruptcy, but in actuality, it can be a positive thing rather than a negative indicator. For one, it means that you have a good income, as that can ease you through the Chapter 13 bankruptcy process.
It's anxiety-producing to try to dodge repeated calls from creditors at home and especially at work. After all, if you are so behind on your bills that you are being pursued by creditors, it's likely that you are well aware of your financial woes.