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Bankruptcy laws accomplish this by allowing the debtor to keep certain assets and personal property which are exempt from the bankruptcy process. These exemptions are created at the federal level, but states have created their own exemptions. Bankruptcy laws for each state determine if the debtor can use the state or federal exemption list.
Additionally, the Bankruptcy Code also allows the discharge of most debts (credit card bills, medical bills). This type of debt is called dischargeable debt. Other types of debt can not be discharged and these debts are called non-dischargeable. With the advent of exemptions, the ability to discharge debts by filing Chapter 7 Bankruptcy or create a more favorable debt repayment schedule with Chapter 13 Bankruptcy filing personal bankruptcy may be a valid method for consumers to get a "fresh start".
The two most common consumer bankruptcies are Chapter 7 and Chapter 13, our sponsoring lawyers handle these types exclusively so you can be sure you are getting accurate legal advice when you file bankruptcy. Our Bankruptcy attorneys will fight to protect your rights and your property, fight the aggressive and annoying creditors for you, and they can help you keep your home, vehicles and other property.
A lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. There are many convenient locations to make filing bankruptcy or learning about the alternatives we offer, even easier.
Get Help NowHome Equity and Bankruptcy
If you have equity on your house, then it is possible to use that equity in order to pay off your Chapter 13 bankruptcy at a much faster pace.
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Fair Credit Reporting Act
The primary purpose of the Fair Credit Reporting Act is to ensure fairness and accuracy of credit reporting, and that the procedures followed are reasonable.
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Most Common Reasons for Bankruptcy
A list of ten most common reasons people usually file for bankruptcy, including harassment from creditors and to end wage garnishments.
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Student Loans and Bankruptcy
According to new changes, your student loan will only be discharged if the bankruptcy court is convinced that paying back the loan would bring about undue hardships for you or the people who are dependent on you.
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