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Divorce is a life-altering event, and for many individuals, it comes with significant financial upheaval. Once the divorce has been finalized, the division of property, spousal support, and other financial obligations can sometimes leave one or both parties struggling to stay afloat.

Chapter 7 bankruptcy can be a lifeline for those struggling with overwhelming debt. It offers a fresh financial start by discharging most unsecured debts, such as credit card balances and medical bills.

Filing for Chapter 7 bankruptcy is a useful tool for dealing with overwhelming debt. However, doing so can also lead to feelings of uncertainty about your financial future.

Filing for bankruptcy is a stressful and overwhelming decision. Many individuals facing financial difficulties worry that filing for bankruptcy means they will lose everything. However, that isn't usually the case.

If you're dealing with overwhelming debt, bankruptcy can be a useful option to pursue debt relief. However, when considering Chapter 13 bankruptcy, it's important to understand the role of secured and unsecured debt limits. These limits refer to the maximum amount of debt you can have to be eligible to file, especially for Chapter 13.

While it sometimes is too early to file bankruptcy, it is never too early to determine if bankruptcy is a client's best choice, especially when a client owns a home or vehicle or where court judgments are, or will soon be, entered against a client. Bankruptcy can stop a pending eviction proceeding, but there are few to no rights in bankruptcy after a Court has ordered the eviction.

Even when bankruptcy is the right option, many consumers are reluctant to file based on misconceptions of the bankruptcy process. Here are six surprising facts about bankruptcy that may allay some of those fears

Chapter 13 bankruptcy provides a unique opportunity for those facing financial hardship to restructure their debt and work toward achieving long-term financial stability.

Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy," involves the sale of non-exempt assets to pay back creditors. This type of bankruptcy relief is designed primarily for individuals who are struggling with overwhelming debt and cannot realistically repay their creditors.

his article aids both prospective clients, bankruptcy practitioners and others working with clients in determining when a client should or should not file for bankruptcy relief, including the top seven reasons to file and seven reasons not to file bankruptcy.