What is Chapter 7 Bankruptcy, And How Do I File It? Under the protection of a federal judge, Chapter 7 bankruptcy can eliminate many types of excessive debt. While some assets, such as high-end jewelry and vehicles, may have to be surrendered, most filers do not need them. Chapter 7 bankruptcy is the most popular and fastest […]
What Is The Best Time To File for Bankruptcy? Contrary to popular belief, declaring bankruptcy isn’t the end of the world. This could be the opportunity to make the start you have been looking for. Bankruptcy laws were designed to give people a second chance and not penalize them. This doesn’t mean you should declare […]
What Will Happen If I File For Bankruptcy? You will file a petition in federal court after you declare bankruptcy. Your creditors will be notified of your bankruptcy petition and will be required to cease pursuing any debt you owe once it is filed. The court will next ask you for specific details, such as: […]
What Is The Time It Takes To Complete? You should know how long you have before you can get in the clear Consumers who file bankruptcy want it to be completed quickly. The sooner you file bankruptcy, the quicker you can start rebuilding and move forward with a new start. Unfortunately, filing for bankruptcy doesn’t mean […]
Car Dealers That Deal with Bankruptcies Although many traditional car lenders might be cautious about working with bankruptcy debtors in the future, there are likely more options than you realize. Dealers don’t approve auto loans, and they won’t be too concerned if you have filed for bankruptcy. Bankruptcy Auto Loans and Car Dealers The auto […]
Trustee in Bankruptcy What Is a Bankruptcy Trustee and What Does He Do? The United States Trustee, an official of the Department of Justice, appoints a bankruptcy trustee to represent a debtor’s estate in a bankruptcy case. In line with the United States Bankruptcy Code, bankruptcy trustees analyse and offer recommendations on different debtor requests. […]
What Is The Difference Between Chapter 7 and Chapter 13 Bankruptcy? The most important decision you will have to make is whether you want to file Chapter 7 bankruptcy or Chapter 13. These chapters are sections of the United States Bankruptcy code that describe how your debt will be dealt with in each phase. Declaring bankruptcy […]
What You Need To Know About Bankruptcy People who are in financial trouble should consider bankruptcy as an option of last resort. Although bankruptcy can help you to get your finances in order and may even give you a fresh start, it can also have serious repercussions that could cause damage to your property and make […]
How to Obtain and File Bankruptcy Forms Find out where to get legal bankruptcy forms, how to learn about local forms and regulations, and where to submit your paperwork. You must fill out a package of papers when filing for Chapter 7 or Chapter 13 bankruptcy. A “voluntary petition,” six more forms known as “schedules,” […]
When Should You Stop Paying Credit Cards and File Bankruptcy? If you are unable to make your credit card payments, bankruptcy may be a possibility. Bankruptcy is a serious choice that should not be taken carelessly. Paying off some debts, such as credit cards, becomes a waste of money after you’ve chosen to move ahead. […]