No one in the Rockland County, New York area ever wants to get into financial problems and have to worry about losing their home to foreclosure. Unfortunately, though, even hardworking New York families can find themselves in a situation in which the bank begins the process of taking back their home. These sorts of situations often arise in the case of an unexpected job loss or a sudden health crisis.
After a recent Supreme Court ruling, Rockland County, New York residents who are contemplating a bankruptcy filing may need to pay more careful attention to the slew of paperwork that follows a bankruptcy.
Most Garnerville and Rockland County residents who follow this blog probably know that Chapter 7 and Chapter 13 are types of personal bankruptcy but that they are different. While Chapter 13 bankruptcy and Chapter 7 differ in many ways, there are a couple which really stand out.
As a previous post on this blog discussed, Rockland County, New York residents who find themselves in financial difficulties can protect a lot of their retirement savings, at least the savings in qualified accounts like a 401(k) or an IRA, from creditors who may otherwise come after their bank accounts and other valuable assets.