When you are in financial hot water, there are solutions - including debt consolidation, reverse mortgages, and bankruptcy. Regarding bankruptcy, there are several options including Chapter 7, Chapter 11, and Chapter 13 bankruptcies. While there are pros and cons to each type of bankruptcy, this blog focuses on the benefits of a Chapter 13 bankruptcy. The Basics Before diving into [...]
Karina Lucid, Founder and President of Lucid Law, recently appeared on the Solution Point Podcast. In this episode, Karina discusses the importance of your credit score and related issues. For example, she discusses the perceived stigma about the filing of bankruptcy. She also addresses another myth that the bankruptcy process will ruin your credit score. In fact, while there may [...]
Chapter 13 bankruptcy, also known as the wage earner’s plan, is a debt relief option available to debtors who don’t qualify for a Chapter 7 bankruptcy or want to be able to keep their home and car in bankruptcy. It’s the bankruptcy option for individuals whose main issue is not a lack of income, but meeting the demands of the [...]
