Bankruptcy Blog Archives

Filing Chapter 13 Bankruptcy will offer several advantages over filing Chapter 7 Bankruptcy. You may be able to save your home by stopping a home foreclosure. You must, however, continue paying your mortgage during the bankruptcy process. Another advantage of Chapter 13 Bankruptcy is you will be able to create a bankruptcy repayment plan and [...]

Chapter 7 Bankruptcy is called a straight bankruptcy because it is a liquidation of your assets. An individual will give their non-exempt property to a court appointed trustee who converts the assets to cash and redistributes the proceeds to the creditors. The debt will be discharged between four and six months. Many individuals who file [...]

Bankruptcy laws were created by the federal government to provide a plan that allows an individual who is unable to pay his creditors, a chance to resolve his debt obligations through a division of his assets among his creditors. Bankruptcy law provides the framework for the division and will ensure that all creditors are treated [...]

If you file Chapter 13 Bankruptcy or Chapter 7 Bankruptcy, there will be certain debts that will not be considered dischargeable. All non-dischargeable debt is decided by federal bankruptcy law and will be the same regardless of where you live. If you have questions regarding the type of debts you have, it is important to [...]

Filing Chapter 7 Bankruptcy has become more difficult with the passage of the Bankruptcy Abuse Prevention and Consumer Act (BAPCPA) of 2005. Prior to 2005, most people were able to file Chapter 7 Bankruptcy and discharge most of their unsecured debt with in four to six months. Unsecured debt may include: unsecured personal loans, hospital [...]