Bankruptcy Blog

Deciding which Bankruptcy to file, 7 or 13, can be decided with a few question answered. Are you behind on your car or house and want to keep them? The second is how much money do you make or assets you own.
The chapter 7 bankruptcy is used to discharge unsecured debts even your home and [...]

One of the main reasons Debtors file bankruptcy is to get rid of “Unsecured Debt.” If a Debtor is current on all his secured debt, but has unsecured debt that he cannot pay, he would want to file a Chapter 7 if he qualifies. A Chapter 13 will also help get rid of [...]

After you have filed your Chapter 13 bankruptcy, it is still important for you to file your income taxes with the IRS. Many people have the notion that they don’t have to worry and they don’t have to file. That is incorrect. When you file for a Chapter 13 bankruptcy, the IRS [...]

Debts are classified based on different categories. If a Debtor has a debt, it is important to know how it is classified so the Debtor can determine if it is better to file a Chapter 7 or a Chapter 13 and how that debt will be treated depending on which Chapter of Bankruptcy he [...]

When meeting with a Bankruptcy Attorney, one of the first questions asked clients is “How will filing Chapter 7 bankruptcy affect their credit?”. Filing a Chapter 7 bankruptcy will not remove their debt from their credit reports, rather listed the debt as discharged. A Chapter 7 filing will remain on your credit report for about [...]

Once your bankruptcy case has been filed with the courts many people wonder what happens now. After your bankruptcy case has been filed, you will receive a notice, called the Meeting of Creditors notice. It is very important that you pay close attention to this notice whether you are a Chapter 7 case [...]

When you file for a Chapter 7 bankruptcy, you are liquidating your debt that you have. Most people who file for a Chapter 7 bankruptcy are current with their mortgage payments and their car payments; they just can’t pay their unsecured debt any longer. Once your case has been filed with the Bankruptcy [...]

After some time paying your chapter 13 bankruptcy you run into a problem that has caused you to not be able to make your Chapter 13 trustee payments any longer. There are a variety of reasons for this to occur. Some people lost a loved one who had income that was helping pay [...]

Decisions need to be made based on the income you have coming in now. A bankruptcy can discharge the credit cards and medical bills, but will not lower house payments. If the house payment has gone up because of the type of loan you have or because of the income change the house might need [...]

People find themselves filing for a Chapter 13 bankruptcy to prevent them from losing their home. They have had some tough times and find them in a predicament of what they should or shouldn’t do. When you find yourself in this position, you should consult a bankruptcy attorney to find out what your [...]