Common Bankruptcy Myths
Common Bankruptcy Myths Everyone will know that I filed for bankruptcy… While filing for bankruptcy is a matter of public record, people generally won’t find this information unless they are looking for it. All of my debts will be wiped out in Chapter 7 bankruptcy… Sadly, not every debt is able to be discharged. Non-dischargeable […]
How Credit Card Use Can Affect Your Bankruptcy
If you plan on filing for bankruptcy, you need to understand how credit card use can affect your bankruptcy. It is never a good idea to run up credit cards immediately beforehand. While it may be tempting, using your credit cards directly before filing for bankruptcy can lead to complications that include not being able […]
Tax Debt Relief And Bankruptcy
Tax Debt Relief If you have an income tax debt, and are filing for bankruptcy, that may be eligible for discharge under Chapter 7 or Chapter 13 of the Bankruptcy Code. The difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy is that Chapter 7 allows for a full discharge of permitted debts […]
Repairing Your Credit After Bankruptcy
Repairing your credit after bankruptcy is possible, you could even obtain a good credit score within several years of your bankruptcy case being discharged. The first step is receiving the notification from the courts that all of your debt has been discharged. This form will be titled “Discharge of Debtor.” Keep this form in a […]
Bankruptcy The Second Time Around
Bankruptcy The Second Time If you have already filed for bankruptcy and you find yourself struggling with debt again, you may be eligible to file for bankruptcy the second time — if certain criteria are met. There are two main types of bankruptcy, Chapter 7 and Chapter 13. You are able to file more than […]
Co-signers and Bankruptcy
Bankruptcy provides a fresh start for many, but what happens when some of your secured debt, such as a vehicle, has a co-signer? If you are planning on filing for Chapter 7 bankruptcy, and in doing so surrendering secured property, you should understand that when it comes to co-signers and bankruptcy, the protection of bankruptcy […]
The Difference Between Secured and Unsecured Debt
The type of debt you have plays an important role in what happens if you default on a loan. There are two types of debt. Secured and unsecured debt. Secured Debt is any debt that is backed by some sort of physical property, such as a car loan or a mortgage. The car loan is […]
Don’t Let The Holidays Jeopardize Your Bankruptcy
If your New Year’s resolution is to file for bankruptcy, there are some steps you should take to prevent the holidays jeopardize your bankruptcy. One of the greatest mistakes that people make during the holidays is over spending. It’s very easy to become wrapped up in the season of giving, however your trustee won’t appreciate […]
The Benefits of Chapter 13 Bankruptcy
Chapter 13 bankruptcy allows people with an income the option of creating a plan to repay part, or all of their debt when they are experiencing hardship. This is why it’s known as the “Wage Earner’s Plan.” When filing for Chapter 13, the debtor has agreed to a repayment plan of their debts over a […]
Chapter 7 vs Chapter 13 Bankruptcy
If you are thinking about filing for bankruptcy, contacting an experienced attorney is your first step. Below we list some differences between filing for Chapter 7 vs Chapter 13 bankruptcy to give you an idea of what to expect. Chapter 7 Benefits: Chapter 7 is known as the “fresh start bankruptcy” because it gives its […]
