Bankruptcy Blog

If you live in Oregon, you may be facing a financial crisis as the economy has deteriorated over the last several months. Many individuals are facing home foreclosures, job loss, creditor calls, unexpected medical costs and credit card balances that they can not pay. If you are looking for a financial solution, bankruptcy may be [...]

There are certain debts that will not be discharged in the state of South Carolina by filing either Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Non-dischargeable debt is outlined in federal bankruptcy laws, failure to pay these debts will allow debt collections efforts to continue.
All non-dischargeable debt in South Carolina will be the same as [...]

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Federal bankruptcy law has outlined certain assets that will be exempt from the bankruptcy process. The goal of exemptions is to allow you to maintain enough assets to start over after bankruptcy. Prior to filing bankruptcy, it is important to discuss your possible exemptions with a South Carolina Bankruptcy Attorney.
Certain states have created [...]

If you do not qualify to file Chapter 7 Bankruptcy or if you have assets you do not want liquidated, you may be able to file Chapter 13 Bankruptcy. Chapter 13 Bankruptcy will not discharge your assets immediately, but instead you will have to repay a portion or all of your debt under a three [...]

Chapter 7 Bankruptcy is the fastest, easiest, most common and least expensive bankruptcy process. Chapter 7 Bankruptcy is called a straight bankruptcy because your assets will be liquidated by a court appointed trustee and the proceeds will be used to pay your creditors. Federal bankruptcy law will determine which creditors are priority creditors and who [...]

No one wants to file personal bankruptcy, but many individuals find themselves in a desperate situation and they are unable to:

Pay their mortgage payments
Stop a home foreclosure
Recover from a devastating financial crisis such as a divorce, separation, death or unexpected job loss
Stop Creditors harassing them
Pay their bills
Budget themselves out of debt in five years or [...]

Unfortunately, not all personal debt will be discharged by filing Chapter 7 or Chapter 13 Bankruptcy. The types of debts which are not discharged are outlined at the federal level in the United States federal bankruptcy code. If you live in the state of Arkansas, the following debts will not be discharged.

Federal, state and local [...]

If you do not pass the means test or if you have assets that you would like to keep, Chapter 13 Bankruptcy may be your best option. Chapter 13 Bankruptcy does not immediately discharge debt but will require you to pay at least a part or all of your debt to your creditors over a [...]

In 2005, new bankruptcy laws were passed by the United States Congress to encourage more individuals to pay off all or a percentage of their personal debt by filing Chapter 13 Bankruptcy. As a result, many individuals no longer qualify to file Chapter 7 Bankruptcy.
Chapter 7 Bankruptcy is a liquidation bankruptcy where a debtor (individual, [...]

Almost five individuals out of one thousand have had to file bankruptcy in Arkansas in 2009. To date, there have been almost four thousand bankruptcy filings in Arkansas. If you live in the state of Arkansas you know that home foreclosures are on the rise and the economic climate is dismal. Filing bankruptcy may be [...]