Chapter 7 Bankruptcy
Post-bankruptcy: Beware of credit repair scams
Credit is one of the main concerns individuals have when they file bankruptcy. They fret over how bankruptcy will impact their credit, credit score, and many future opportunities that involve credit, such as obtaining a mortgage. After receiving a fresh start through their bankruptcy discharge, people look for ways they can improve their credit so…
Read MoreHow can you know if Chapter 7 or Chapter 13 is right for you?
It is not easy to make the choice to file for bankruptcy. Maybe you made this choice after months of struggling to keep up, or maybe you are tired of dealing with constant contact from creditors and debt collectors. You’ve had enough, and you’re ready to seek a better financial future through the bankruptcy process.…
Read MoreWhat is a reaffirmation agreement?
Filing Chapter 7 bankruptcy can help individuals find the relief they need from the debt that weighs on their shoulders. However, the bankruptcy process can involve several additional details, documents and agreements, that can make this process even more complex. So, let’s take a look at one such agreement that individuals might use during their…
Read MoreFinancial crisis symptoms that warrant Chapter 7 exploration
Many married couples in New Mexico are also in business together. In fact, some spouses were business partners long before they decided to become life partners, as well. If you and your spouse own a business together, you’ve likely encountered financial challenges at some point in your journey. If you’re like most business owners, you…
Read MoreIs filing for Chapter 7 bankruptcy worth it?
When in serious debt, most relief options sound appealing — that is, outside of filing for bankruptcy. Bankruptcy is something that you and many other New Mexico residents may feel like you need to avoid as you have likely heard nothing more than horror stories about this form of debt relief. Chapter 7 bankruptcy can…
Read MoreHow could bankruptcy affect a veteran’s disability benefits?
Unfortunately, the soldiers who dedicate their lives to serving our country often face significant financial struggles after they complete their duty. These struggles only become more of a challenge for veterans who have disabilities. Bankruptcy can help many people, including veterans, find the debt relief they deserve. However, many veterans might wonder how filing Chapter…
Read MoreSeeking a mortgage after bankruptcy: What you need to know
For many Americans, buying a house is a huge milestone in their adult lives. It is a milestone of their financial independence. A home is without a doubt one of the (if not THE) most expensive assets that someone will own in their lifetime. This is why people worry about their house when they deal…
Read MoreProtect yourself: Know the signs of debt relief scams
There is no doubt that struggling with debt is difficult. It can significantly strain one’s financial and emotional health, as they stress about how to pay off debts and cover monthly expenses at the same time. The stress and stigma of debt can make individuals want to find the fastest route to debt relief as…
Read MoreMedical bills still the most common reason for bankruptcy
A visit to the doctor’s office can be expensive. And yet, it is impossible for individuals to predict when they or a loved one will need medical care or suffer a medical emergency. Therefore, it is not easy for New Mexicans to plan for how they will pay for medical issues. This never-ending cycle is…
Read MoreWhat you should know about the bankruptcy trustee’s role in Chapter 7 cases
When someone files a Chapter 7 bankruptcy, a trustee is appointed to administer the bankruptcy estate. Understanding the chapter 7 trustee’s role in bankruptcy can help individuals prepare for the process and know what to expect. Here is a brief overview of the trustee’s role in Chapter 7 bankruptcy. A quick note Every individual in New Mexico…
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