What is the downside of filing for bankruptcy?

The one downside to filing Chapter 7 bankruptcy is that you may lose assets to pay off your creditors.

Is it worse to file bankruptcy or just not pay?

Ignoring debt will have lasting negative impacts that may force you into bankruptcy anyway.

Credit counseling, debt settlement, or debt relief programs better for my credit than Chapter 7 bankruptcy?

Debt settlement can take years, and your credit usually does not improve much during that time.

What is the Chapter 7 bankruptcy Means Test?

The Means Test is an eligibility criterion for Chapter 7 bankruptcy. If you do not pass the Means Test, you do not qualify for a Chapter 7 Bankruptcy.

Is Chapter 7 bankruptcy better for my bank account than credit counseling, debt settlement, or debt relief programs?

Let’s examine how debt settlement programs have generally worked for these credit or debt programs.

If I file Chapter 7 bankruptcy, can I keep my house and car?

In the past, you didn’t need to be overly concerned about losing everything. But whether you can keep your house and vehicle has become more complicated in 2022.