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…
What Is a Secured Claim in Bankruptcy?
When filing for bankruptcy, your creditors have rights. And one of those rights is to receive payment by submitting a secured claim form to receive payment on the debts you owe. If filing for bankruptcy, it is probably because you owe a considerable amount of debt and your income can no longer satisfy those monthly…
How Do I File for Chapter 7 Bankruptcy?
How do you file for Chapter 7 bankruptcy? The process is relatively quick, especially because it is the most common type of bankruptcy filed by consumers each year. The process can, however, take longer than necessary if you do not follow the filing deadlines or complete the steps required by the court. Luckily, because it…
Filing Chapter 7? You Might Still Have to Pay toward Some of Your Debts
Filing Chapter 7? It is a common misconception that everything you owe is erased upon completion of a Chapter 7 bankruptcy. While many of your debts discharge, some debts do not go away – and failing to pay on those debts could result in further collection efforts. If you are considering Chapter 7 as your…
How Are Debt Consolidation Loans Handled during Bankruptcy?
Debt consolidation loans are advertised for those who are in over their heads in debt and want to take multiple payments and combine them into one. But how are debt consolidation loans handled during bankruptcy? Sometimes, they come from financial institutions, while other times they come from a consolidation agency. Regardless, the principle idea is…
Financial Mistakes That Lead to Bankruptcy – and How to Avoid Them
Life happens. And while there are some things out of your control (even financially), there are also ways to drive yourself closer to the point where you need to file for bankruptcy. Have you made financial mistakes that lead to bankruptcy? No one sets out in their adult years with the intention of filing for…
What Does It Cost to File Chapter 11 Bankruptcy?
What does it cost to file Chapter 11 bankruptcy? One common question attorneys receive when a client is considering bankruptcy is how much it will cost. After all, you are overburdened with endless debts and barely scraping by financially. While bankruptcy provides relief from creditors and liabilities, you still must pay for that relief. So,…
Debts You Keep Even after Filing for Chapter 7 Bankruptcy
If you plan to file for Chapter 7 bankruptcy, you might be under the false presumption that you will have all your debts erased and start over fresh. But there are debts you keep even after filing for Chapter 7 bankruptcy. While Chapter 7 does dissolve most debt obligations, there are some that stick around…
Prevent Filing for Bankruptcy Again by Following These Tips
Filing for bankruptcy the first time can be devastating. You feel as though you have failed yourself financially, and maybe failed your loved ones. It is embarrassing to get up in front of a judge and admit that you cannot pay your bills and you need a bailout. How can you prevent filing for bankruptcy…
10 Common Mistakes to Avoid Before Filing for Bankruptcy
No one goes through life with the intention of filing for bankruptcy. It is easy to make mistakes before and during the process. What are common mistakes to avoid before filing for bankruptcy? While these mistakes might seem minor, they could be detrimental to your bankruptcy case – and even result in a dismissal. It…