Presentation Transcript

1. Filing for bankruptcy Devin shumake
2. Should be considered if your one the things below describes the issue your in Heavily in debt Threats of foreclosure Drop in income Difficulty paying bills Insufficient income Loss of income due to a disability or divorce Who should consider bankruptcy?
3. Give you a fresh new start. Get rid of some previous bills Let you rebuild your credit What can Bankruptcy do for you?
4. Give you more privacy Help you keep valued possessions Closed bank accounts Help get you a mortgage What bankruptcy Cannot do for you?
5. Depending on situation of the bankruptcy you still may be able to keep your property. What is exempt property in a bankruptcy filling?
6. The law requires that before you file you receive proper education from a financial counselor. What ate the counseling and education requirements?
7. Can start rebuilding your credit Discharge some bills such as: credit card, medical, loans, and judgments based on car accidents What are the advantages for filing for bankruptcy?
8. Loss of privacy Loss of valued objects or people Closed bank accounts Loss of luxury possessions Hard time getting a mortgage What are the disadvantages for filing for bankruptcy?
9. They add additional charges to credit card Transfer there property out of their name Cash in retirement accounts Ignore pending law suits Treat some creditors better than others Five common mistakes people make when filing for bankruptcy.