If you’re interested in filing for bankruptcy, you might be aware that you have two main types of bankruptcy available to you.  The first time of bankruptcy is Chapter 7, in which your non-essential assets are seized and sold in order to repay creditors (However, there’s a good chance you won’t have to give up  … Read more

This is a statement we’ve heard time and time again.  If you have serious debts that you’re struggling with, but think that they can be paid off if you just had enough time and restructuring, then Chapter 13 might be right for you.  It’s worth mentioning a few details about Chapter 13, and why this  … Read more

Chapter 13 is a great way for people who are considering bankruptcy to restructure their debts under a government-supervised plan.  If you are filing for bankruptcy, consolidating and restructuring your debts under Chapter 13 might be the best financial move you ever make.  Unlike Chapter 7, in which your assets are liquidated and all of  … Read more

If you are an individual facing the harsh realities of bankruptcy, you want to prepare yourself for the oncoming tide.  Knowing the difference between the types of bankruptcy and being able to discriminate between their various attributes will make you better prepared for the process.  You might be wondering if Chapter 13 bankruptcy is right.  … Read more

Many people assume that the best type of bankruptcy for their debt situation is debt elimination through Chapter 7. While Chapter 7 does have its benefits, it isn’t for everyone. There is much to be gained in a Chapter 13 case, some of which could actually put you ahead of the game in the future.  … Read more

Although most debtors assume they want complete debt elimination from a Chapter 7 case, there is much to be gained by filing for Chapter 13 instead. The problem most people see with Chapter 13 is the repayment requirement, often an issue that can of value rather than hardship. Getting to understand the Chapter 13 process  … Read more

People often wonder why a Chapter 13 bankruptcy takes longer than a Chapter 7. Typically, a person filing for Chapter 7 can receive a debt discharge within 6 months; whereas a person in Chapter 13 may take up to five years for to have their debts discharged. Waiting For Relief Why does Chapter 13 take  … Read more

The myths associated with filing for bankruptcy cover everything from asset liquidation to a damaged reputation. The problem with misconceptions about the process is that it hinders people from taking advantage of the benefits bankruptcy has to offer. When it comes to filing for Chapter 13, there are some common myths that often confuse or  … Read more

One of the most important aspects behind a Chapter 13 bankruptcy case is your income, which determines how much you will be required to repay as part of your debtor’s plan. Changes to your income level can influence your payment requirements, but these changes are generally considered on an individual basis. Additional Funds One source  … Read more

When learning about the Chapter 13 bankruptcy process, the debtor’s plan takes center stage. As the main plan for resolving debts, the debtor’s plan is developed to outline the specifics about which creditors will be repaid and how much the bankruptcy filer will be required to pay each month. In order to develop this plan,  … Read more