What is a Basic Chapter 7 Bankruptcy?

What is a Basic Chapter 7 Bankruptcy?

Chapter 7 bankruptcy basics: Chapter 7 bankruptcy allows a quick discharge of most debts while keeping all the property you need. Whether you are facing overwhelming debt or just want to eliminate debt to be in a better financial position, bankruptcy is a good option. How do I keep my property in Chapter 7 bankruptcy?

Should I File for Bankruptcy?

Should I File for Bankruptcy?

Probably.  Filing for bankruptcy is an option people do not want to consider until it is too late.  Once you get past the stigma of bankruptcy, it is a really good program.  The earlier you consider whether bankruptcy could help you, the better off you will be. What is bankruptcy? Bankruptcy is a federal program

3 Ways to Find a Good Bankruptcy Lawyer

3 Ways to Find a Good Bankruptcy Lawyer

Bankruptcy attorneys are everywhere.  A Google search turns up over 5 million results.  So how do you find the right bankruptcy lawyer?  Is one just as good as another?  I will help guide you through it with these three tips. You should never meet with a bankruptcy lawyer paralegal. Most bankruptcy law firms will offer

How Much Does It Cost to File Bankruptcy?

How Much Does It Cost to File Bankruptcy?

When a person considers bankruptcy, a common question is how much bankruptcy costs.  There are several expenses associated with a successful bankruptcy filing.  Some bankruptcy fees depend on your income.  Your income will likely determine whether you file Chapter 7 or Chapter 13 bankruptcy.  Other bankruptcy costs depend on how much debt you have.  More

An Introduction to Nevada Bankruptcy Exemptions

An Introduction to Nevada Bankruptcy Exemptions

A major concern for many Nevada residents in debt is that filing for bankruptcy will cause them to lose what little property they have left. In fact, bankruptcy is about protecting debtors so they can make a “fresh start” free of crippling debt. It would make little sense to strip debtors of everything they have

Are There Debts I Cannot Get Rid of Through Bankruptcy?

Are There Debts I Cannot Get Rid of Through Bankruptcy?

The idea behind Chapter 7 bankruptcy is that a person can discharge – or cancel – certain types of debts, relieving them of any future legal obligation to pay. Typically, individuals file for Chapter 7 because of mounting unsecured debts, such as credit cards or medical bills. After going through the bankruptcy process – in

How the Statute of Limitations Can Affect Your Bankruptcy Case

How the Statute of Limitations Can Affect Your Bankruptcy Case

When a creditor presents a claim against a Chapter 7 bankruptcy estate, it must be legally valid. In other words, if the creditor could not normally sue to enforce the debt outside of bankruptcy, it cannot seek to collect the debt from the bankruptcy trustee. After all, bankruptcy is about giving a second chance to

Bankruptcy Basics: Filing for Chapter 13

Bankruptcy Basics: Filing for Chapter 13

Chapter 13 is sometimes called the “wage earners” or “reorganization” bankruptcy. It is designed primarily for people with a regular income who may have fallen behind on their debt payments, and people who do not qualify for chapter 7 bankruptcy. In chapter 13, individuals work with a credit counselor and their attorney to develop a

Making a Fresh Start with Chapter 7 Bankruptcy

Making a Fresh Start with Chapter 7 Bankruptcy

Chapter 7 bankruptcy is sometimes called the “fresh start” bankruptcy. The goal in filing for chapter 7 is to provide a clean slate for a debtor, allowing them to retain much of their property and receive a “discharge” that erases most of their debts. It is designed to help lower income wage earners (individuals, married