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The Decision Between Chapter 7 And Chapter 11 Depends on

– How much money you owe – Whether your debts are primarily consumer or business-related – Your ability to repay your debts If you have little or no income, you should probably file for Chapter 7 bankruptcy. Otherwise, you might want to file for Chapter 11 bankruptcy instead. You’ll have more options when you file […]

Advantages Of Bankruptcy

If you file for bankruptcy, you’ll likely see some changes to your credit report. Your debt will no longer appear on your credit report, and creditors won’t be able to collect from you. But before you file for bankruptcy, consider these benefits of bankruptcy. Chapter 7 Bankruptcy: The Good News The first thing that comes […]

Where Bankruptcy Doesn’t Help

Are you thinking of filing bankruptcy? If so, you might be surprised at the number of things that can go wrong. In fact, it’s possible to file for bankruptcy without ever having to pay back creditors. Bankruptcy is a legal procedure where you can get rid of debts that are too big or overwhelming. The […]

Getting a Credit Card or Loan After Bankruptcy

If you’ve filed bankruptcy, chances are you’ll want to get back into credit card debt. But before you apply for another loan, consider these things first. Filing for bankruptcy can be a stressful time. The process itself can take months and even years to complete. During this time, you’ll likely struggle financially. This means you […]

Terms to Know About Bankruptcy

You’ll need to be familiar with a few bankruptcy-specific legal terms as you proceed through the process. Most common and significant examples are as follows: Trustee in bankruptcy: A trustee in bankruptcy is an individual or corporation appointed by the court to make decisions on behalf of the debtors in the bankruptcy case. After examining […]

How Does Chapter 7 Bankruptcy Work?

Chapter 7 bankruptcy works like this: First, you meet with your attorney to discuss your options. Then, he files a petition on your behalf. Once the court approves the petition, you will receive notice of the date set for the meeting of creditors. At this meeting, your attorney will ask each creditor to verify the […]

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a legal procedure where a person who has no assets or income is able to get rid of their debts through liquidation. This type of bankruptcy is usually filed by individuals who owe less than $1 million dollars. The U.S. Bankruptcy Code was enacted in 1978 to provide relief from financial […]

Chapter 7 Bankruptcy vs Chapter 13 Bankruptcy

There are two different ways to file for bankruptcy: chapter 7 and chapter 13. Each has their own benefits and drawbacks. The main difference between chapter 7 and chapter 13 is how much money you owe. With chapter 7 bankruptcy, you only repay what you can afford. On the other hand, with chapter 13 bankruptcy, […]

How do I File For Chapter 13 Bankruptcy?

To file for chapter 13 bankruptcy you must first contact an attorney. A lawyer will help you determine whether you meet the eligibility requirements for chapter 13 bankruptcy. Once you are eligible, you will be required to fill out paperwork to initiate your case. You must provide proof of your income and assets. In addition, […]