Latest on the Bankruptcy Blog

The crisis in the current economic scenario affects the business sector, combined with poor financial management and accumulation of debts, companies, and institutions are often forced to declare bankruptcy. This is usually the last thing a business person would like to do but finds this is the only solution to comply with the payment of  … Read more

Do you know you can “use” Chapter 13 bankruptcy to stop foreclosure? If you are planning to file for bankruptcy but are also facing foreclosure, the timing of your bankruptcy can make a world of difference, of course, depending on what you intend to do with your home. It depends on your goals. For some,  … Read more

If you are concerned about losing an asset, you might want to consider protecting your assets before filing for bankruptcy. This is one form of pre-bankruptcy planning. Most debtors who file for Chapter 7 or Chapter 13 bankruptcy manage to keep their property after understanding this process. It is crucial to understand how to value  … Read more

Planning a wedding can be one of the most critical moments of your life. If you are dealing with your debt or your fiancé’s debt during this process, it can be overwhelming and stressful. If you have marriage and bankruptcy on your list, it will be essential to decide what should go first and why.  … Read more

Many students take loans to cover their full cost of attendance at school. However, your monthly loan payments depend on the money you borrow now, the more you choose, the higher you pay. That is why it is essential to compare and study your options before taking out student loans best suited for your needs.  … Read more

Chapter 13 is a “reorganization bankruptcy” type that allows debtors to repay all, or a portion, of their debts in three to five years under a court-approved plan. Chapter 13 bankruptcy is also called a “wage earner’s plan.” that lets individuals with regular income to develop a plan to repay their debts. If the debtor’s  … Read more

Chapter 7 of the Bankruptcy Code provides for “liquidation” of your debt and sometimes your nonexempt assets. The trustee will evaluate the debtor’s nonexempt property and if it can be sold for real value, and distribute it to the creditors. A chapter 7 bankruptcy does not involve a plan of repayment, the bankruptcy trustee gathers  … Read more

When you find yourself in a desperate financial situation where filing for bankruptcy is no longer a choice, then it’s time to shift focus on minimizing your financial losses. You can do this by learning more about the provisions under which you qualify to file for bankruptcy. You can do so under Chapter 7, or  … Read more

If you are struggling with debt and considering bankruptcy, you may have some concerns about how the case will go. Some people avoid bankruptcy as a whole because they think it is too complicated. Although bankruptcy is a complex area of ​​law, an experienced attorney can make the process as smooth and straightforward. To determine  … Read more