Bankruptcy in Jackson, Mississippi, can eliminate most debts but not all of them. It only erases exempt, nonsecured debts, such as medical bills and credit card bills. One myth that still circulates is that student debt cannot be removed in bankruptcy. New proposed...
Buying a home after Chapter 7 bankruptcy
Many people falsely assume that once they file for Chapter 7 bankruptcy protection, they can no longer purchase a home. While there are credit ramifications associated with filing for bankruptcy, doing so does not permanently disqualify Mississippi residents from home...
Student loans under Chapter 7 bankruptcy
Consumers in Jackson, Mississippi, can file Chapter 7 bankruptcy to help them erase debts they can no longer manage to pay. Debtors commonly file bankruptcy to remove student loan debt. However, not all debts receive the same treatment under Chapter 7. Basics of...
Could you be stuck with some debts after your bankruptcy?
Your financial situation is dire and rapidly getting worse, so you’ve made the decision to file for bankruptcy. You’re waiting a little to either save up the filing fees or to get through the holiday season -- and that’s fine. Just watch what purchases you’re making...
Struggling with credit card debt? Bankruptcy could be the solution
According to Nerd Wallet’s 2019 American Household Credit Card Debt study, the average amount of credit card debt within an American household is around $6,591. This might not seem like much compared to the average $27,978 in auto loans or $46,954 in student loans...
Bankruptcy could help if you’ve lost your job
You never expected to be in the position you’re in today. You’ve always worked hard, and you had put away enough savings to take care of yourself for three months if you lost your job. You never thought that you’d lose your job and be unable to find a new one within...
What can Chapter 7 bankruptcy do for you?
As you review your finances, you may soon come to the conclusion that you’re facing a long uphill battle. Even with the best intentions, you may find it nearly impossible to make efficient progress in a timely manner. Should you find yourself in this position, Chapter...
Understanding the bankruptcy means test
As a resident of Michigan or Illinois who finds yourself facing an increasingly overwhelming amount of debt, you may be weighing your options and trying to determine the best and most effective way of rebuilding your financial affairs. At ,...
Chapter 7 bankruptcy can wipe the slate clean
Bankruptcy can be a scary concept for debtors in Mississippi. We at know that many people are afraid to file for bankruptcy for fear of losing everything or looking like a failure in the eyes of others. However, bankruptcy laws are there...
Getting a mortgage after Chapter 7
Residents in Mississippi who struggle with unmanageable levels of debt may try to avoid filing for bankruptcy for many reasons. Some people may feel that seeking bankruptcy relief is a sign of personal failure. Others worry that the black mark they may receive on...
