Whether you're a mom or a dad, raising children on your own is quite a challenge. From trying to attend every sporting event to keep the kids in warm and fashionable attire, you have an endless juggling act to keep up, with many sacrifices made along the way. Sometimes, the financial aspects of single-parenting can overwhelm, leaving you with little choice but to consider drastic action. Is bankruptcy a practical way out for you?
If your business is struggling and you are having trouble meeting your financial obligations, you may be falling behind on your current business loans. While this is alarming, it doesn't have to be the end of the world. If you find yourself in a situation like this, here are a few tips that might help.
Consider a New Loan
If you are at risk of missing a current loan payment but your overall credit history is still excellent, you could consider getting a new loan to help cover your current ones.
You didn't wake up this morning planning on getting injured, but sometimes life can come at you fast. If you find yourself the victim of a personal injury that is the result of someone else's carelessness, you may be entitled to some form of financial compensation. That said, the first few hours or even minutes following the accident are critical for protecting your legal rights. Here are a few tips to keep in mind that might help you.
Filing for bankruptcy is never something that you want to do on a whim. You want to make sure that it is something that you truly need, as in, there is no other way to get your finances back on track. As for the chapter 13 bankruptcy, you will need to consider a few things to determine if this particular chapter of bankruptcy is right for you. Here are a few of those things.
A chapter 7 bankruptcy can help wipe out quite a bit of debt, but some may still linger after you receive your discharge papers (e.g. certain tax debt). If you're still having trouble meeting your financial obligations, one option is to file a chapter 13 right after your chapter 7 case ends. However, here are two important restrictions the bankruptcy court will place on your case.
Delayed Second Discharge
To prevent people from abusing the bankruptcy system, the laws restrict how often petitioners can receive discharges.