consolidation

Consolidate Credit Card Debt

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consolidation

consolidation Known as straight bankruptcy, Chapter 7 involves liquidation of all assets that are not exempt. consolidation Exempt property may include automobiles, work-related tools and basic household furnishings. consolidation Some of your property may be sold by a court-appointed official-a trustee-or turned over to your creditors. consolidation You can receive a discharge of your debts through Chapter 7 only once every six years. consolidation

consolidation Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments, utility shut-offs, and debt collection activities. consolidation Both also provide exemptions that allow people to keep certain assets, although exemption amounts vary. consolidation Note that personal bankruptcy usually does not erase child support, alimony, fines, taxes, and some student loan obligations. consolidation And unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or lien on it. consolidation