How to Decide Which Chapter of Bankruptcy to Declare
If you are experiencing financial troubles, do not feel like you are out of options. Individuals may qualify to file for bankruptcy. The question is: which chapter of bankruptcy is right for you? Here is a short, helpful guide on the different types of bankruptcy and what to expect with each one. How to Decide…
Reasons Why You Should Hire a Bankruptcy Attorney
Filing for bankruptcy is a big step to eliminate debt. We realize it can be uncomfortable, but for some, it might be one of the only options to get back on your feet. If this is your situation, and you are unsure where to start, we suggest speaking with a bankruptcy attorney. Let’s go over…
How to Know If Your Business Is Bankrupt
There are a few ways to tell if your company is going to crash (low revenue and high costs are one). While these might be overwhelming, bankruptcy is an option for many businesses that can serve as a light at the end of the tunnel. While things have been hard, you are far from out…
What Is the Difference between Filing for Chapter 11 and Chapter 13 Bankruptcy?
What’s the difference between Chapter 11 and Chapter 13 bankruptcy? Chapter 11 and Chapter 13 are bankruptcy options. Chapter 11 is a reorganization for businesses, while Chapter 13 allows a consumer to completely eliminate debts through repayment under a court-ordered plan. If you are a business owner, you may wonder which is the right option…
Should You Tell Creditors You Are Filing for Bankruptcy?
Should you tell your creditors you are filing for bankruptcy? While you can tell creditors you are filing bankruptcy, doing so may not stop them from continuing to call and try to collect on a past due debt. The only way to stop them from harassing you for payment, legally, is to file for bankruptcy…
What Is Considered Disposable Income for Chapter 13?
When you file for bankruptcy, what is considered disposable income? No matter which chapter of bankruptcy you choose to file, the courts look at your disposable income and compare it to your monthly debt obligations. Disposable income is that which you can use to pay down debts, and if you have too much disposable income,…
What Debts Are Not Dischargeable in Bankruptcy?
What Debts are not Dischargeable in Bankruptcy? What debts are not dischargeable in bankruptcy? One common misconception among consumers is that you can discharge all debts and be 100 percent debt-free if you file for Chapter 7 bankruptcy. While you could discharge a vast majority of your debtors, the belief that you can remove 100…
What Is Relief from Automatic Stay?
Who gets relief from the automatic stay in bankruptcy? When a relief from the automatic stay is filed, it is done by a creditor. The creditor is asking the court to remove the automatic stay protection issued in bankruptcy so that they can continue collection efforts. Typically, the creditor does so when they need to…