December 2014 Archives

Do you need an attorney to file Chapter 7 bankruptcy?

Mississippi residents who are contemplating filing for Chapter 7 bankruptcy are likely to have limited financial means. Also known as asset liquidation, Chapter 7 is often an appropriate option for those who owe overwhelming amounts and have little realistic hope of making inroads on repayment of such debt. While Chapter 7 can be an effective solution to overwhelming debt, some Mississippi residents may worry that they cannot afford a bankruptcy attorney.

Commonly encountered bankruptcy terms for the individual

When a Mississippi resident is considering filing for bankruptcy, they are sometimes overwhelming by the legal jargon and financial lingo with which they are unfamiliar. By getting acquainted with some of the most common personal bankruptcy terms, anyone who is considering filing for bankruptcy may feel a bit more confident in approaching the process.

Feds crack down on false promises to stop wage garnishment

Countless residents of Mississippi are grappling with student loans, whether they are fresh out of school or graduated many years ago. Some are able to work their loan payments into their existing budgets, while others may discuss their financial challenges with the lender in order to obtain a deferment or temporarily reduce payments. For others, missed payments may be a reality due to overwhelming financial problems such as massive debt or unemployment. In such cases, these individuals may be facing the thought of or undergoing the experience of having their wages garnished.

Navigating the Chapter 13 bankruptcy process

When a Mississippi resident decides that personal bankruptcy is the right solution for them, they will likely need to first decide which type of bankruptcy to file. An individual in need of debt relief may file Chapter 7, which involves asset liquidation, or Chapter 13, which involves adhering to a repayment plan concerning a portion of eligible debts.

Does bankruptcy stop car repossession?

When a person is severely in debt, that person may resort to selling off personal property in order to either repay debt or make ends meet. While many are willing, if reluctant, to part with items like jewelry or electronics, many understandably fear losing their home or car. Asset forfeiture is a threat to Mississippi residents who are in over their heads financially. Fortunately, there are legal options available for avoiding these scenarios.

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