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Documents to collect to file for Chapter 7 bankruptcy

There may come a time when you realize that the best way to improve your financial situation is to file for Chapter 7 bankruptcy. You'd hoped that it wouldn't come to this, but it may be the best thing you can do at the present time.

If you're considering Chapter 7 bankruptcy, you'll want to start by collecting all the right documents. These include but are not always limited to the following:

  • Recent bank statements
  • Recent bills from creditors (as well as any collection notices)
  • Payment coupons for student loans, real estate and vehicles
  • Any bills for purchases you have made over the past 12 months
  • Receipts
  • Files from any previous bankruptcy filings
  • Files from any lawsuits brought against you by creditors
  • All insurance policies
  • Vehicle titles
  • Tax returns for the past three years
  • Any proof that someone owes you money
  • Documents associated with any debt that you have

How do you get a mortgage modification?

If there comes a point when you are no longer able to make your mortgage payments as required, you'll want to think long and hard about your many options.

While selling your home may be the best decision you can make, others come to find that a mortgage modification is right for them.

Business bankruptcy: questions to address

There may come a time when you realize that a bankruptcy filing is the best way to get your business back on solid ground. While this alone is unable to fix a broken business, it may give you the space you need to make key changes with the hopes of a better future.

Here are some of the most important business bankruptcy questions to address before moving forward with a filing:

  • Will you still be able to work with your current suppliers?
  • Do you have the option to sell your business during the bankruptcy process?
  • What are the pros and cons of Chapter 7 and Chapter 11 bankruptcy?
  • What is expected of you and your business during a bankruptcy filing?
  • What processes can you follow in the future to prevent the same financial problems?

Drivers put bicyclists at risk in many ways

As a bicyclist, you are well aware of just how difficult it can be to share the road with drivers. While most drivers are more than willing to do whatever it takes to keep cyclists safe, there are always a few who could not care less about this.

Here are some of the many things that drivers do that put bicyclists at risk:

  • Crowding a bicyclist off the road
  • Ignoring bicycle lanes, such as by using them to pass other vehicles
  • Backing into a bicyclist in a parking lot or when leaving a parking space
  • Running into a bicyclist at a crosswalk

Do you lose everything in bankruptcy?

There are both pros and cons regarding filing for bankruptcy. There are also many myths that stop people from making the right decisions in regard to their finances.

Many people believe that they will lose everything if they file for bankruptcy, but this is not the case. As you learn more about the process, you will find that you may be able to keep some, or most, of your assets.

A car accident can cause a serious head or back injury

Regardless of the circumstances surrounding a car accident, there is always a chance that the occupants of the vehicles could suffer a serious injury.

If you find yourself in this unenviable position, you need to stay where you are until an ambulance and police arrive at the scene. Attempting to move could worsen your injury, and that's not a risk you should be willing to take.

Will you follow these fall road trip safety tips?

Although many people find themselves taking a road trip during the summer months, some realize that it's just as fun to do so during the fall.

With summer almost in the rearview mirror, it's time to turn your attention to the months to come. For some, this means taking a road trip with family or friends.

Should you use a personal loan to relieve debt?

If debt relief is on your mind, there are several strategies you can rely on to reach your goals.

Whether or not you use a personal loan to relieve your debt is a big decision. On one side of things, this brings all your debt under the same roof. On the other side, you are still stuck with the same amount of debt, it's simply consolidated.

Easy ways to avoid common driving distractions

It's one thing to say that you will never become distracted while you are behind the wheel, but another thing entirely to ensure that this never happens. It's easy to fall into the trap of taking your eyes off the road, especially if you are stuck in traffic or on a long trip.

Fortunately, there are some simple steps you can take to avoid common driving distractions:

  • Turn off your cellphone. This may not be something you do often, but it's one of the best ways to improve your safety when driving.
  • Use a hands-free device. If you absolutely need to use your phone when driving, a hands-free device can improve your safety.
  • Don't focus on what is happening in the back seat. Even if you have pets or children back there, you need to keep your eyes on the road. If you need to see what is going on, pull to safety.
  • Program your GPS before you hit the road. You don't want to find yourself fiddling with these buttons while also trying to pay attention to the road.

Do these things before filing for bankruptcy

There may come a point when you realize that filing for bankruptcy is the only way to improve your finances. If you find yourself in this position, you need to take all the right steps at all the right times.

Here are some of the many things you should do before filing for bankruptcy:

  • Take one last look at your alternatives. You only want to move forward with bankruptcy once you know that every other option is out of the question.
  • Understand the impact on your future. There are both pros and cons to each type of bankruptcy, so make sure you know how it will impact your future.
  • Gather everything you need. Filing for bankruptcy begins with collecting quite a few financial documents. Get all these in order so you can hit the ground running.
  • Consider obtaining help. You can file for bankruptcy on your own, but this can be extremely challenging. It's typically best to consult with a legal professional who can keep you on track.
  • Prepare for the future. Bankruptcy is a great way to get a fresh start, but you don't want to slip back into your old ways. You should do whatever it takes to build better financial habits.

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