Bankruptcy

bankruptcy

What is a Bankruptcy Trustee?

When you file for bankruptcy, the court will appoint a trustee appointed to your case. The bankruptcy trustee will have various roles. The trustee is there to review the petition, look for red flags and fraudulent claims. His goal is to maximize the amount of money that your creditors will receive. Who Pays the Bankruptcy…

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341 hearing with creditors

What Happens at a 341 Hearing with Creditors?

When you file for Chapter 7 or Chapter 13 bankruptcy, you are required to attend a meeting of the creditors. This is also referred to as a 341 Hearing. During this meeting, you are not in front of a judge. Instead, your bankruptcy trustee is present, along with creditors, to discuss your debt obligations. This…

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Chapter 7 Vs Chapter 13

After Bankruptcy: What Steps Should I Take First?

What steps should you take after bankruptcy? You have finished your bankruptcy proceedings – now, your debts are either discharged, or you are going through the court-designated repayment program. Regardless, you have been given a fresh start with your finances, which means that you need to play it smart. A large majority of those who…

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bankruptcy

Will I Lose My Home if I File for Bankruptcy?

Will you lose your home if you file for bankruptcy? A common concern for consumers who are contemplating bankruptcy is whether or not they will lose their home. During Chapter 7 bankruptcy, several issues can arise. But, typically, if there is equity that is exempt and you can continue making your payments, you may not…

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business bankruptcy

Business Bankruptcy: Does Your Business Qualify?

If your business is struggling to turn a profit or has excessive debt, it may be time to consider filing for bankruptcy. Bankruptcy is a lifeline for businesses, just as much as it is for consumers. Most business owners assume that if they need to file bankruptcy, they must file for the business. But, personal…

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