While it can be humiliating and humbling to admit that your financial situation has gotten out of control, it may be necessary for you to face the facts and take action. Failure to declare bankruptcy in a timely manner could put you at risk for losing property, harassment by creditors, and costly court judgments.
The bankruptcy process requires that you make but one public appearance in connection to your chapter 7 bankruptcy filing, known as the creditor's meeting.
If your business has been experiencing a downturn recently, you might be struggling just to keep up with the payments on your current business loans. If this describes your current situation, you should know there is a possible solution that can help. Debt consolidation could be just the thing you need to free up some of the money currently going to your loans every month in order to start pushing your business back in the right direction.
You may have finally made the big decision to file for bankruptcy, but it would be in your best interest to take a look at some common issues that filers often encounter when doing so. You want to ensure that your chapter 7 bankruptcy goes as smoothly as possible, so read on to learn more about some common bankruptcy problems and how to deal with them so that you can make your fresh financial start.