Bankruptcy is a legal status for which any American or business can file when they are in the worst financial state possible. People and enterprises can opt to file bankruptcy if they cannot repay their debts. The constitution allows two types of bankruptcy: Chapter 7 and 13 bankruptcy. Chapter 7 allows debtors to liquidate your assets to cover your liability, while chapter 13 creates a structured ...
bankruptcy
What is an IVA? – 10 things you need to know
There are many reasons why you might be in debt: general overspending, unforeseen expenditure or personal tragedy. You will know best what your personal circumstances are, so I don’t want them to take focus at this post. This post shall concentrate on one of the options you have when you are in serious debt, IVAs. An IVA, short for Individual Voluntary Arrangement, is a fixed repayment plan that ...