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?
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
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
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
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