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Chapter 7 Bankruptcy Archives

How Chapter 7 bankruptcy can impact a 401(k) account

When a Connecticut resident is considering bankruptcy options, one of the most important considerations is how that choice could affect retirement savings. Many people spend the bulk of their adult lives setting aside money to fund retirement. They are concerned that seeking bankruptcy protection could jeopardize their savings, leaving them unable to retire as planned. The following information is offered in the hopes of clearing up the impact that Chapter 7 bankruptcy can have a 401(k) account.

Will Chapter 7 bankruptcy increase if health bill passes?

Most Connecticut residents are aware that health care has become a primary area of focus for the new administration. In fact, the Senate is considering a revised health bill that has led to a great deal of debate. Some experts believe that if the bill should pass, then 15 million people could lose their Medicaid coverage. They go on to suggest that an increase in Chapter 7 bankruptcy could quickly follow.

Options for when Chapter 7 bankruptcy disappears

For many Connecticut residents, the decision to file for bankruptcy comes at a time of significant stress. It is easy to become overly focused on the negative aspects of Chapter 7 bankruptcy, while overlooking the fact that the bankruptcy process is a springboard toward lasting financial stability. A recent article looks at bankruptcy statistics, and notes that millions of Americans will soon have their personal bankruptcies removed from their credit reports.

Basics of Chapter 7 bankruptcy

The phone keeps ringing, letters keep arriving and bills keep piling up. Sometimes it seems like there is no end in sight for a Connecticut consumer facing financial problems. However, with Chapter 7 Bankruptcy, there can be an end to the financial burden and relief for the individual.

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