The different types of bankruptcy explained
There are four types of bankruptcy: chapter 7, 11, 12, and 13. They are named depending on their chapters in the United States Bankruptcy code. The types differ based on the debtor, the debtor’s income, and the methods used in repaying the debts. Chapter 7 and 13 bankruptcy are for individuals seeking to settle their […]
Explaining Your Bankruptcy
Hard times fall on many people, especially in a recession or bad economy. Filing for bankruptcy has been the saving grace for many of these financially frustrated individuals. While filing for bankruptcy can be a huge relief to those in debt, many people feel they don’t know how to explain their bankruptcy to family, creditors […]
Bankruptcy Questions and Answers
Bankruptcy is happening more frequently in today’s economy, and should not be an act of any shame or guilt. Businesses and individuals choose to file for bankruptcy in an attempt to regain their financial futures, and rid themselves of financially devastating and overwhelming debt. It is often a good decision not only for you, but […]
The Facts About Debt Collectors
Debt collectors can be harsh, and if you are on the verge of bankruptcy they can be brutally harassing you day in and day out. Did you know that debt collectors have to follow a set of guidelines with respects to the Fair Debt Collection Practices Act? Did you also know that if you file […]
Bankruptcy Terms and Definitions – Part 1
Bankruptcy can be an intimidating process for many people, but like many things in life, fear comes from the unknown. By educating yourself, you will have a better understanding of the bankruptcy process and a greater control of your financial future. The following are some bankruptcy terms to become familiar with: Automatic Stay-An automatic stay […]
Bankruptcy Terms and Definitions – Part 2
Knowing your bankruptcy terminology is very important in understanding your legal proceedings. The following is a continued list from Bankruptcy Terms and Definitions-Part 1: Motion to Lift the Automatic Stay-A creditor’s request to take an action against a debtor or the debtor’s property that would otherwise be prohibited by the automatic stay. No-Asset Case-A […]
Filing For Bankruptcy And Your Financial Future
After choosing to file for bankruptcy there is much to be completed via the court system. Although, with a professional bankruptcy attorney this process can be quite simple, and will ease your stress one day at a time. So the next step after choosing to file for bankruptcy, and finding an experienced bankruptcy attorney, is […]
I’m a Renter. Will Bankruptcy Cause Me to Be Evicted?
The job market is very volatile right now, with the unemployment rate as high as it has been in a long time. That combined with the crash of the housing market has made it very difficult for many families to afford their mortgages as they owe much more on their home than it is actually […]
Chapter 11 versus Chapter 13 Bankruptcy
The financial crisis is taking a toll on many Americans. The unemployment rate is higher than it has been in years and many people are finding themselves upside down on their homes. Owing more on your home than it is currently worth is a very difficult situation, especially if you don’t have a job to […]
Personal Bankruptcy and Credit Card Debt
One thing that is never certain is the economy. In the last few years, the economy has gone through some major changes that have made life extremely difficult for some people. The stock market has been going up and down quickly and many people have been losing a lot of money, and the job market […]
