chapter 13

bankruptcy

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…

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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…

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How Much Should You Be in Debt before Filing for Bankruptcy?

How much debt should you be in before filing bankruptcy? A common question on consumer minds is whether or not they have enough debt to justify filing for bankruptcy. The answer is not as simple as “X dollars” is the threshold. Instead, it comes down to your unique financial situation, the type of debts you…

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chapter 7 bankruptcy

How Much Debt Do You Have to Have to File Bankruptcy?

How much debt should you be in before filing bankruptcy? Technically, there is no minimum debt amount required to file for bankruptcy, but there are limitations on how high your debts can go. For example, if you want to file for Chapter 13 bankruptcy, your secured debts cannot exceed $1,257,850, and your unsecured debts cannot…

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Is It Better to File Chapter 7 or Chapter 13 Bankruptcy?

Is it better to file Chapter 7 or Chapter 13 bankruptcy? While many assume that filing Chapter 7 is the best route for bankruptcy, not all cases qualify for it and not all debtors would benefit the most from this type of bankruptcy. Consumers have two primary choices: Chapter 7 and Chapter 13. And before…

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Will I Have to Go to Court If I File for Chapter 7 Bankruptcy?

Will I have to go to court if I file for Chapter 7 bankruptcy? If you file for bankruptcy, yes, you will have to show up in court for what is known as the meeting of the creditors. If you are like most consumers, the idea of showing up in court is daunting. After all,…

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Bankruptcy Law

Can You File for Bankruptcy with a Felony Conviction on Your Record?

Can you file for bankruptcy with a felony conviction on your record? Being convicted of a felony affects you in numerous ways, including your career choices, government aid, and possibly your bankruptcy status. If you have been convicted of a felony, you may have limitations on what you can claim as an exemption. And depending…

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341 hearing with creditors

Can I Stop Bankruptcy after I Have Already Filed?

Can you stop bankruptcy after you have filed? As a debtor, you decide to file for bankruptcy. If you voluntarily wish to dismiss the case after doing so, you have that right. However, before you dismiss your bankruptcy case, you should consult with an attorney to make sure it is the right call. After all,…

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What Can Bankruptcy Do for Me?

  If you’re considering bankruptcy, the first thing on your mind is the benefits. Bankruptcy has its pros and cons, just like any other financial decision. Therefore, you should understand them before assuming it will help you or not. Bankruptcy is a powerful financial tool that helps you get back into control of your finances….

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How Do I Qualify for Chapter 7 Bankruptcy?

How do you qualify for Chapter 7? Not everyone in debt qualifies for Chapter 7. Instead, there are strict guidelines in place that apply, regardless of where you live, which determine if you can use Chapter 7 or if you must look for an alternative. Chapter 7 bankruptcy is a total relief bankruptcy. It means…

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