Bankruptcy Blog

Chapter 7 Bankruptcy is a liquidation or straight bankruptcy. A trustee is appointed by the bankruptcy court to take your property and sell it and use the money from the sale to pay your debt obligations. Most unsecured qualifying debt can be discharged with in four to six months. There will be some types of [...]

If you are facing a financial crisis and are unable to pay you bills filing bankruptcy may be an option for you. The federal government has created the process of bankruptcy to help individuals who are unable to pay their debts and allows them to discharge most of their unsecure debt and get a fresh [...]

Declining car sales and other uncertainty in the nations auto market has led to large unemployment rates and a deepening financial crisis in Michigan. If you and your family are facing foreclosure or simply can no longer afford to pay your bills, you should consult with a Michigan bankruptcy lawyer to see if filing bankruptcy [...]

Phoenix Bankruptcy
If you are having trouble paying your bills and keeping food on the table, filing a Chapter 7 or a Chapter 13 bankruptcy could potentially save you thousands of dollars and restore your financial stability. Depending on the situation, a person could stand to save even more that without filing bankruptcy an individual would otherwise be obligated to pay [...]

There have been some media reports about informal bankruptcy recently that suggest that it might be a cheaper way to get out of debt. The only problem with that hypothesis is that you don’t really get out of debt through informal bankruptcy.
Informal bankruptcy is what happens when someone just decides that they will stop making [...]

Some may wonder why bankruptcy? Why can’t you afford to pay your bills? Why take such a drastic step? The truth is, there is no one answer for why someone should consider filing bankruptcy.
They may have fallen behind on house payments and are now faced with foreclosure notices. Sometimes forces outside their control affect [...]

The national economic crisis might have left you on the unemployment line with the growing number of Americans who are loosing their jobs as the nation’s unemployment rate has reached a 14-year high.
An illness may have left you unable to work and brought you mounting medical bills. Gaps in your insurance coverage may have [...]

Before filing a bankruptcy there are some things that you don’t want to do. The bankruptcy is a legal means to deal with creditors, but it creditors have rights too. If prior to the filing you go out and max out all your credit cards in a very short time both the creditor and the [...]

When you file a bankruptcy yes you could lose some assets. Depending on which state that you live you can use either state exemptions or federal exemptions. The exemptions are the allow-able things you can have and file a Chapter 7 Bankruptcy and those things are protected. You can always go into a Chapter 13 [...]

The filing of a Bankruptcy is a big decision. The thoughts of even filing a bankruptcy is never just there. The reason the thought of filing a bankruptcy is there is something has changed in you life or income. The words like Repossession or Foreclosure become every day words you are using. The [...]