Shortly after you file for Chapter 7 or Chapter 13 bankruptcy, you will receive a notice for your section 341 meeting of creditors. It’s an essential part of the bankruptcy process that usually takes place at the Federal courthouse, but currently is done over the phone or via a Zoom chat due to the pandemic. … Read More
If you are in the Chapter 13 Bankruptcy process, you have a three-to-five-year reorganization payment plan. This plan will allow for one monthly payment to wrap up most types of debt and will provide you with automatic court protection from your creditors. There are a lot of reasons why a Chapter 13 might be the … Read More
An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. Individuals can file an emergency bankruptcy, also known as a skeleton bankruptcy, under Chapter 7 and Chapter 13. Additionally, businesses can file an emergency bankruptcy under Chapter 11, but this is … Read More
Filing for chapter 13 bankruptcy can seem like a daunting task, but it’s often the right move for those who are facing foreclosure, repossession, or have exorbitant debts. If you’re thinking of filing for chapter 13 bankruptcy, you may have questions regarding how it will impact your credit score. In this blog, we discuss how … Read More
Debt elimination is typically one of the primary reasons a debtor will pursue bankruptcy. While filing for bankruptcy is often the best course of action if you are overwhelmed by debt and struggling to stay afloat, it’s important to understand what debts can and cannot be discharged in bankruptcy. Bankruptcy can often eliminate most of … Read More
Filing for bankruptcy is often a necessary yet scary and confusing process for debtors. No one plans to accumulate so much debt that they can’t pay it back, but things happen. While you may not want to file bankruptcy, it is often the best choice if you are struggling to get by. Though filing for … Read More
The bankruptcy process involves looking at your assets. In a Chapter 7, or liquidation bankruptcy, some of your property may not be protected, and you could lose it. Every state has different property exemption rules. Most Chapter 7 filings are what we call a “no asset” case. However, after you file, a bankruptcy trustee will … Read More
Bankruptcy is often a valuable tool for overcoming debts, but it’s not for everyone. The number of individuals filing for bankruptcy has decreased in the last 20 years, but the number of older individuals declaring bankruptcy has increased. One in seven people filing for bankruptcy is older than 65. Many people wonder if they’re too … Read More
When you are behind on payments to numerous creditors, you may decide to prioritize some payments over others, such as utility bills. Having your utilities shut off can be a disaster, especially if there are children in the household. So, you may be faced with a difficult decision when it comes to deciding which bills … Read More
Filing for bankruptcy a first time is challenging enough, let alone trying to file a second time. However, for some, debts are often so unmanageable and add up over time that two consecutive bankruptcy filings might be necessary. It’s important to note, however, that using multiple bankruptcies to evade creditors without the intent to follow … Read More
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