When most people think of bankruptcy, they think of a Chapter 7. This is the type of bankruptcy that, using liquidation of assets, effectively cancels most debt. Though things like student loans and debts to the IRS are not wiped away, Chapter 7 bankruptcy is the...
As you may already know, an individual — or a jointly filing couple — has access to two different types of bankruptcy. These bankruptcy types, called ‘chapters,’ are wildly different in execution. While the general goal of both types of bankruptcy is to get on top of...
One of the most common concerns expressed by potential clients is whether or not a Chapter 7 will ruin one’s credit. While the answer is no, it will not ruin one’s credit, it does have an effect. Your decision to file a 7 may depend on whether or not the effects are...
Filing a Chapter 7 can seem like a difficult and dangerous task, especially to those who do have assets to their names. You might be worried about your home or your vehicle, or perhaps you are simply worried about heirlooms; without the requisite information, things...
The question of housing often comes up during discussions of bankruptcy. Many people assume that filing automatically means a loss of homes, but this is not always the case; in many situations, one can keep one’s home. The deciding factor is generally the worth of...
Once you have made the decision to file for bankruptcy, it is time to start making decisions. In order to make the process go faster, it is a good idea to consider which type of bankruptcy is right for you. As an individual or part of a couple, you have two options...
If you are going to file for bankruptcy, you have a choice to make. This choice is important and will affect the rest of your bankruptcy as well as the next few years of your life. As such, careful attention should be given to your circumstances and your future before...
Once you have committed yourself to filing for bankruptcy, you must decide whether or not you can file for a Chapter 7. This can often be confusing or frustrating, especially since the process is detailed and the qualifications can sometimes be difficult to...
Every person or couple who files for bankruptcy must go through a legal process. Once you begin this process, it will help determine the magnitude of your debt problem, whether or not you should file, and what kind of bankruptcy would benefit you most. Additionally,...
Because filing for bankruptcy can and most likely will affect your credit score, it is important to have a plan in place to rebuild your credit once your debt has been discharged. It may seem like a daunting task, but in reality, it can be easier than you might...