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1. >Eight Tips You Need to Know Before You File for Bankruptcy

When faced with a mountain of debt, bankruptcy can seem like an attractive alternative. Even though it is a scary option to consider, it might feel necessary when you simply can't make your monthly payments. There are two main bankruptcy options: Chapter 7 and Chapter 13. Using Chapter 7 discharges most of a person's unsecured debt, including credit cards and personal loans, and filers may be required to sell personal assets. Chapter 13 bankruptcy is referred to as "reorganization" bankruptcy because that's what it does with debt. Filers are required to pay their creditors over time usin...