Bankruptcy Blog Archives

Question Raised in Personal Bankruptcy Story This personal bankruptcy story was shared in January 2012 by a blogger on a bankruptcy forum site: “I filed Chapter 13 in July 2011, confirmed November 2011. 1st mortgage and HELOC (interest only) are current and paying outside of bankruptcy. Will we ever be able to refinance our mortgages [...]

Chapter 13 bankruptcy is one of the two common types of bankruptcy used by individuals.  Unlike Chapter 7 bankruptcy that can eliminate an individual’s debt altogether, Chapter 13 bankruptcy is a debt reorganization and debt consolidation plan. Debt consolidation as a part of a Chapter 13 bankruptcy means that you will submit to a bankruptcy [...]

There are advantages and disadvantages for the different types of bankruptcy you might want to file once you determine the need to file bankruptcy. Here are 7 great reasons you might want to file a Chapter 13 in lieu of any other type of bankruptcy. Reason #1. To Save You Home from Foreclosure Once you [...]

A Chapter 13 bankruptcy is commonly called a wage earner’s plan. It is a type of bankruptcy most individuals can file requiring you to design a pay back plan with your disposable monthly income to pay your unsecured creditors. During the plan, all secured debts will be expected to be paid on time and up [...]

Many of you who are needing to file bankruptcy sometimes come into a small financial windfall in the form of an inheritance. What are your options on inheritance before filing bankruptcy? To help you understand your options if you suddenly come into an inheritance and are considering bankruptcy, lets assume you shared an inheritance with [...]

You should only consider filing bankruptcy after exhausting all of your other options like debt consolidation and credit counseling to repay your debts. But if you are facing a severe financial crisis, filing bankruptcy may allow you to either discharge certain qualifying unsecured debts through Chapter 7 Bankruptcy or restructure your debt payments by filing [...]

First time filers have many questions about what happens after you file for bankruptcy. With Insurance continually going up, a valid question for a person filing bankruptcy is, “Will your auto and home insurance go up after filing a Chapter 13 bankruptcy?” Every insurance company handles its business differently through its own set of policies, [...]

If you are considering filing bankruptcy and you are married, you should know that you do not both have to file bankruptcy.  One or both of you may file bankruptcy, depending on the nature of the debt issues you are attempting to address through the bankruptcy.  The information that follows applies whether you are filing [...]

If you are a first time bankruptcy filer, you are going to hear a lot of misinformation about the bankruptcy process. One of the more complicated bankruptcy processes concerns filing a Chapter 13 bankruptcy. A Chapter 13 bankruptcy, usually referred to as a “Wage Earner’s Plan,” is for individuals who could not pass the Means [...]

Here are four questions many first time bankruptcy filers are asking about credit issues and bankruptcy: After 8 years of having a discharged bankruptcy can you still be denied credit? By law, credit reporting bureaus can leave the bankruptcy information on your credit reports for up to 10 years. Even though you can begin to [...]