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

When you look at the total value of your assets and subtract the number of your liabilities; if the number is negative, you are in what is commonly known as “upside-down.” Your debt is more than your net worth. If you sold everything you own, you would still not have enough money to pay for  … Read more

In the simplest form, personal bankruptcy is a court-ordered and court protected plan to help those in financial crisis satisfy their creditors as much as possible. Bankruptcy is a way to protect individuals from repossession, foreclosure, and other legal actions that creditors may take. If approved by the court, you can work out a plan  … Read more

After you have made all of your court-approved payments, submitted a certificate showing you have completed all of your financial management classes and are current in your child support and alimony, the court will grant a “full-payment ” discharge for your Chapter 13 bankruptcy. Debts Covered When you are granted a discharge, the court wipes  … Read more