What Happens During Bankruptcy?
You must be co-operative and respond to the Trustee’s requests in providing all information required during your bankruptcy. You must keep the Trustee informed as to where you are living and as to any material changes in your circumstances, you must also provide the Trustee with monthly reports of earnings and expenses. The Trustee will provide you with the appropriate forms to be filled in to provide the necessary information. As well, there may be a meeting of creditors approximately 1-2 months after the commencement of the bankruptcy in which the bankrupt is required to attend. These meetings are usually held at the office of the Trustee.
At New Leaf we believe that debt negotiation is a better solution. Bankruptcy can be the start of a long-term crippling of your financial well-being. It is the last of all resorts. There are two kinds of bankruptcy, Chapter 13 and Chapter 7. The consequences between the two differ financially, in terms of debt freedom, continued obligations and the loss of assets, including your home. In both cases the long-term implications both financially and psychologically are devastating. No one should file for bankruptcy without first considering debt negotiation. New Leaf’ program is an excellent alternative to bankruptcy. Click here for more information on bankruptcy.
At ConsolidatesDebt.com we believe that debt settlement is a better solution. Bankruptcy can be the start of a long-term crippling of your financial well-being. It is the last of all resorts. There are two kinds of bankruptcy, Chapter 13 and Chapter 7. The consequences between the two differ financially, in terms of debt freedom, continued obligations and the loss of assets, including your home. In both cases the long-term implications both financially and psychologically are devastating. No one should file for bankruptcy without first considering debt settlement. ConsolidatesDebt.com’ program is an excellent alternative to bankruptcy. Click here for more information.
