Warning Signs that Bankruptcy is on the Horizon for You

Bankruptcy
10 signs of bankruptcy

No one goes through life expecting to file bankruptcy, but it happens. Sometimes, the warning signs are clear, while other times they are not so obvious. Regardless of your financial situation – or what you assume it will be like in the future – it is imperative that you know the warning signs of bankruptcy….

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Will My Tax Refund be Affected by My Bankruptcy Case?

Bankruptcy
IRS 1040 form

It is tax season, which means that you are probably anxiously awaiting your tax refund check. While refunds were placed on hold for the 2017 tax year, your return should come in May or June. But, if you are in the process of bankruptcy, or if you have filed bankruptcy and you are in the…

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Can You Lower a Car Payment in Bankruptcy?

Bankruptcy
car keys on top of money

When you file for bankruptcy, you are doing so because you can no longer manage your debts. Whether it is because you lost your job or took a significant cut in pay, you need to eliminate monthly debt obligations to get back on your feet. However, you have a vehicle, and you need to keep…

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Will Bankruptcy Save My Home from Foreclosure?

Bankruptcy
bankruptcy home foreclosure

Most homeowners facing bankruptcy are worried about one thing: The family home. If you are significantly behind on mortgage payments and struggling to meet debt obligations, and if your mortgage lender is threatening to foreclose, bankruptcy is likely your only option. With the protections of bankruptcy, you could prevent creditors from filing official judgments in…

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What Documents Do I Bring to My Bankruptcy Attorney?

Bankruptcy
bankruptcy documents

Bankruptcy is a highly complex process, which is why you have hired an attorney. When filing for bankruptcy, it is important to note that it will affect your credit and property. While stressful, having the right attorney and being prepared for what comes next is your best defense. During your consultation, there are documents that…

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What is Pre-Bankruptcy Counseling?

Bankruptcy
Pre-Bankruptcy Counseling

Most bankruptcy cases require that you have credit counseling in a specified number of days before you can file the bankruptcy protection order in court. You will also be forced to complete a course on debt management before your debts are discharged. This is the court’s way of ensuring that you learn better financial responsibility…

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What Are the Bankruptcy Exemptions for Chapter 11 and Chapter 13?

Bankruptcy
Bankruptcy Exemptions

Each form of bankruptcy works in its own way, with Chapters 7, 11, and 13 differing from one another substantially. One of the biggest differences is how exemptions are applied when it comes to your personal property. Chapter 11 Filing for Chapter 11 means that you are applying to reorganize. You are not giving up…

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What is a Proof of Claim in a Bankruptcy Case?

Bankruptcy
proof of claim

There are plenty of documents and requirements in a consumer bankruptcy case. One that you may have heard of is the “proof of claim.” This is a written statement that tells the court, the debtor, and the trustee, along with other interested parties, that a creditor will exercise the right to receive a payout from…

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What is a Bankruptcy Discharge and When Does It Happen?

Bankruptcy
bankruptcy discharge

At the end of your bankruptcy, you receive a discharge. This is a court order that is used for Chapter 7 and Chapter 13 bankruptcies, and it relieves you from debt obligations associated with the bankruptcy case. To receive a discharge from the court, you must satisfy all requirements. Once your debts are discharged, the…

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