Bankruptcy Blog Archives

Due to the new requirements, many individuals will no longer be able to file Chapter 7 Bankruptcy. Filing Chapter 13 Bankruptcy may be another option. Chapter 13 Bankruptcy will not immediately discharge your personal debts, but it will allow you to create a 3 to 5 year plan to repay all or most of your [...]

Chapter 7 Bankruptcy is the easiest, most common, least expensive and fastest bankruptcy method to discharge unsecured debt. Chapter 7 Bankruptcy is called a “liquidation” bankruptcy. Under Chapter 7 Bankruptcy, a trustee will be appointed by the bankruptcy court to sell your personal non-exempt assets and use the proceeds to repay your creditors. Priority creditors [...]

Are you facing a financial crisis? Have you had trouble paying your mortgage month after month? Do you have bills you can not pay or high credit card debt and penalties? Last year alone, over one million people faced a similar financial crisis and decided to file personal bankruptcy. No one wants to file personal [...]

Many individuals will not be able to file Chapter 7 Bankruptcy. If you can not file Chapter 7 Bankruptcy due to your income levels or if you have assets that you do not want to liquidate, filing Chapter 13 Bankruptcy may be a good option for you. Chapter 13 Bankruptcy will not discharge your unsecured [...]

In 2005, the Bankruptcy Prevention and Consumer Protection Act (BAPCA), made it more difficult to file Chapter 7 Bankruptcy. The BAPCA requires individuals to take a credit counseling course before they can file bankruptcy, a financial management course prior to the discharging of the debt and pass an income test. The goal of the legislation [...]

If you are filing Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, it is important to realize that not all debt will be considered dischargeable. Federal Bankruptcy law outlines what debt is considered dischargeable and this debt is the same in all states, including South Dakota. Talk to a South Dakota Bankruptcy Attorney prior to filing [...]

If you live in South Dakota and you are having a tough financial time and if you are facing: The inability to pay your bills month after month High medical bills Overwhelming credit card debt Wage garnishments Harassing creditor calls Job Loss Filing personal bankruptcy may be an option for you. Filing personal bankruptcy may [...]

Filing bankruptcy in Indiana is something most people do not want to think about or talk about. It is something that a lot of people see as complete failure and disaster. Even though it is something that you probably do not want to think about or consider, you may have reached a point where it [...]

Chapter 13 Bankruptcy may be a good option for individuals who do not pass the means test or who have property and assets they would like to keep. Unlike Chapter 7 Bankruptcy, Chapter 13 Bankruptcy will not automatically discharge your debt, but will force you to repay some or all of your debt through a [...]

Non-dischargeable assets are outlined under federal bankruptcy law. Non-dischargeable debts are debts which will not be discharged by filing either Chapter 7 or Chapter 13 Bankruptcy. Iowa will have the same non-dischargeable debts as all other states. If you do not continue debt payments for non-dischargeable debt, creditors have the legal right to continue debt [...]