Bankruptcy Blog

When filing a Chapter 7 bankruptcy, you may have secured debts that you will wish to keep and maintain the monthly payments. Your statement of intentions is filed with your Chapter 7 petition and this is the notice to your secured creditors of your intention to reaffirm the debt.
The creditor will prepare and provide a [...]

A chapter 7 bankruptcy is used mainly to discharge unsecured debts. Unsecured debts are credit cards and medical bill. Once a person has gone through some form of change in income the abilty to pay the credit cards is no longer possible the chapter 7 is the fastest way to eliminate this type [...]

Due to reform law changes effective 10/18/2005, many debtors without secured debt would have previously qualified for Chapter 7 Bankruptcy. However, these debtor may be required to file Chapter 13 due to a standardized test that limits household disposable income.
This will require monthly payments to be paid to a Chapter 13 Trustee and repay a [...]

One way to stop a repossession of your car, would be using a chapter 13 bankruptcy. The chapter 13 is a plan that would put the car into a plan to be paid back over a new five year payment which in most cases will reduce what the car payment was. The car people have [...]

First of all never say never about the need to file a bankruptcy. The second is “I will never file again.”
People file a bankruptcy because of a change in income. Divorce is a major reason to file. One spouse will not pay what they are suppose too and so the creditors will come after the [...]

Many people feel that they should or need to pay a particular credit card off prior to filing for bankruptcy, whether it is a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. People feel that they should pay off their lowest credit card in order to keep it. In doing so they feel [...]

Filing a chapter 7 bankruptcy is used to discharge unsecured debts. Most people that have file a bankruptcy at one point had very good credit but something changed in their income that made it imposable to make payments like they had done in the past. Their car and home could have become unsecured debts [...]

A family came in the other day with no hope of saving their way of life as it was. He having been on his job for the last fifteen years making enough for their family to live comfortably. They had a house and two cars one paid for the other about three years to go. [...]

Navigating bankruptcy can be difficult and confusing for people not familiar with the process. When people decide to file bankruptcy they often need a bankruptcy attorney to help them through. One of the most confusing aspects can be all of the different types of hearings that take place in a bankruptcy case.
Some bankruptcy [...]

All bankruptcy cases are started by the filing of a bankruptcy petition. Regardless of whether the case being filed is a Chapter 13 or a Chapter 7 it will start with the filing of a bankruptcy petition. Along with the bankruptcy petition the bankruptcy schedules must be filed as well. These “schedules” [...]