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Think Enriched

Think Enriched with Amy Robles is the podcast to guide smart, ambitious women to think bigger, create businesses they love and keep their family first. Amy has trained thousands of business owners to learn marketing & sales strategies. She knows how to help and is ready to work with you. Amy understands that when you enrich a woman's life, you help her entire circle of influence. You can enrich your life and your bottom line. Join us and move forward to your dreams.
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Now displaying: Page 1
Aug 28, 2015

Bankruptcy.  Sure, we all know someone who has gone through a bankruptcy.  This episode gives you the ins and outs so you can intelligently discuss it and help others understand the decision.

 Note:  This show is for informational purposes only.  If you are considering bankruptcy, seek legal counsel.

Chapter 7:

  • Called the Straight Bankruptcy
  • All your personal assets are collected & liquidated to pay off as much debt as possible.
  • Process takes 4 -6 months 

Chapter 13:

  • Called the Reorganization Bankruptcy
  • A court-appointed debt repayment plan is established.
  • You can still keep your assets during the bankruptcy
  • Repayment time of 3-5 years
  • Once approved, creditors can no longer contact you

 

We also discuss:

  • How often you can file for Chapter 7 or Chapter 13 (they are not the same) 
  • Roll of a trustee in the bankruptcy process
  • Pros & Cons of the decision
  • The amount of time the bankruptcy will be on your credit report
  • Who is responsible to get the bankruptcy lifted from your credit report once the time has passed.
  • How the decision impacts your life in other ways
  • My personal opinion on the bankruptcy decision.

 

Questions?  Let's talk:  amy@thinkenriched.com

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The episode "Bankruptcy Breakdown," first appeared on Think Enriched. 

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