To begin a Chapter 13 bankruptcy, you will need to fill out a packet of bankruptcy forms – mostly the same forms as you would use in a Chapter 7 bankruptcy. they include listing your income, expenses, property and debts. You will need to file these forms and paperwork with a nearby bankruptcy court. You […]

Filing for Chapter 13 bankruptcy can provide you with a structured plan for paying down your debt and stop creditor harassment, runaway interest rates and fees. It’s sometimes referred to as a “re-organization” bankruptcy because it re-organizes your debts so that you can afford to pay them. Unlike a Chapter 7 bankruptcy,  Chapter 13 bankruptcy […]

Filing bankruptcy should be considered only as a last resort by a person with financial troubles. For many debtors, Chapter 13 bankruptcy is a good option. However, not everyone is eligible for it. Let’s look at what Chapter 13 is, how to file bankruptcy and the requirements for Chapter 13 bankruptcy eligibility. What is Chapter 13 […]

In general, most debtors prefer to file for Chapter 7 because it eliminates most unsecured debt and is easier. However, not every debtor qualifies for Chapter 7. In some cases, repaying debt over time in a court-approved Chapter 13 repayment plan provides benefits that are unavailable in Chapter 7. Sometimes things can get quite complicated, […]

This chapter of the Bankruptcy Code provides for adjustment of debts for an individual with regular income. Chapter 13 allows a debtor to keep his property and pay debts over time, usually  in between three and five years.  Let’s look at Chapter 13 bankruptcy definition and explore what it can offer. What is bankruptcy (chapter […]

Bankruptcy laws by definition are a series of federal laws enacted to allow people to be relieved from their debts and start over with a clean slate. The laws have changed in 2005, known as 2005 bankruptcy law revision, making it more complicated to get a fresh start, so it is important to know bankruptcy […]

Bankruptcy laws are a series of federal laws enacted to allow people to be relieved from their debts and start over with a clean slate. The laws changed in 2005, making the road to a new beginning more complicated o it is important to know what is bankruptcy, understand completely its benefits and downsides before […]

What is Chapter 7 bankruptcy? In Chapter 7 bankruptcy, the bankruptcy trustee cancels many (or all) of your debts. At the same time, the trustee might also sell (liquidate) some of your property to repay your creditors. Chapter 7 bankruptcy, also called “straight” or “liquidation” bankruptcy, is so named because the law is contained in […]

When a business is near failing or so far in debt that it cannot continue to operate, its owners may need to file a Chapter 7 bankruptcy claim. Let’s look at Chapter 7 bankruptcy and what it can do for small businesses, corporations and LLCs. What is Chapter 7 bankruptcy? Chapter 7 is a liquidation […]