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Think Enriched

If you've always wanted a business and life, you love, Think Enriched will guide your path. Any smart, ambitious woman can create her own financial security. Amy Robles coaches smart, ambitious women take steps to create enriching enterprises. Amy walks you through the ENRICH Framework. This framework helps your business become purposeful and profitable fast, giving you more time to enjoy your life. Listeners relish the refreshing honesty and humor host Amy Robles brings as she guides women to level up their lives, create the business they love, and keep their family first.
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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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