When you file bankruptcy, your creditors must file a proof of claim with the court if they want to receive payments from your bankruptcy estate. The proof of claim forms must be submitted within 90 days after the 341 meeting (meeting of the creditors). All unsecured creditors must file a proof of claim listing the  … Read more

Bankruptcy contains a set of laws called exemptions that determine what assets you are allowed to keep when you file bankruptcy. Even though bankruptcy is governed by federal law with their own set of exemptions, you can “opt-out” of federal exemptions and choose the state you live in’s exemptions instead. Your state’s exemptions may be  … Read more

When you’re in a Chapter 13 bankruptcy case, you will need to make at least one appearance in the bankruptcy court. Soon after the creditor’s meeting, you will go before a judge for a confirmation hearing. Your plan will either be confirmed or sent back for adjustments. If your plan doesn’t meet the requirements of  … Read more

When you file bankruptcy, a court-appointed trustee will be assigned to your case. This trustee will remain active in your case for the entire proceedings. The trustee is there to protect your creditor’s interest and make sure you are being fair and honest regarding your debt. Chapter 7 In Chapter 7 bankruptcy, your trustee will  … Read more

If you are overwhelmed in debt and believe bankruptcy can give you financial relief, you should consider hiring an experienced bankruptcy attorney. You may be tempted to save some money by representing yourself in court. While this may seem like a good idea since you have so many other bills, the property, and money you  … Read more

The United States Bankruptcy Code is divided into segments known as “Chapters.” Each chapter is dedicated to specific sections of the code. The chapters are divided by the type of bankruptcy being filed. Large, complex business organizations and corporations seeking protection from the court will file Chapter 11 bankruptcy. Individuals can file Chapter 7 or  … Read more

For debtors so far behind in their debt and have no hope of paying it all off, bankruptcy may be the answer you are looking for. Bankruptcy really can give you a fresh start on your financial future. All of your qualifying debt will be legally wiped away, and you will no longer be obligated  … Read more

For consumers, there are two common types of bankruptcy. Chapter 7, the liquidation bankruptcy, and Chapter 13 the reorganization bankruptcy. Chapter 7 Chapter 7 bankruptcy is the fastest and easiest form of bankruptcy. This bankruptcy is usually straightforward, and the whole process can be over in as little as three to six months. In Chapter  … Read more

Bankruptcy may be the quickest and easiest way to deal with debt problems. Bankruptcy was designed to help people and businesses get financial relief from their creditors. If you have run out of options to get out of debt, bankruptcy may be the right choice for you. When deciding if bankruptcy is your best option,  … Read more

When getting behind in debt, people often try alternatives to bankruptcy first in order to get caught up in their finances. Some methods include borrowing money from banks or family members to consolidate or catch up on your debt. What often happens is you find yourself with an extra bill to pay, so you didn’t  … Read more