Divorce affects everything from everyday life to planning a vacation. One of the most prominent effects it has on your life is hurting your financial situation. Between the division of assets, legal fees and change in income, your bank account takes a big hit.
How Chapter 7 works
Filing a Chapter 13 or a Chapter 7 bankruptcy in North Carolina can help substantially when you need a fresh start. However, there are some debts you will remain on the hook for even after bankruptcy.
Filing for bankruptcy is a serious decision. It can be a fresh start for your finances if you understand the process and know what the bankruptcy does for you. Some people are afraid to file for bankruptcy because they are afraid of what other people will think and how it will affect their property and credit. Learn more about these myths that might be keeping you from getting a bankruptcy.
The vast majority of people are trying their best to do what they can with what they have. However, sometimes circumstances prevent people from covering all of their expenses. This can get to the point where large amounts of debt can influence every single decision you make and drastically increase levels of stress. Even so, there may be options available.