Category: Chapter 7 Archive
Filing for Bankruptcy to Save Your Assets: Waiting Could Hurt You
One of the most frequent mistakes made by bankruptcy filers is that they wait too long to file. It’s natural to feel a reluctance to start the bankruptcy process. Considering filing for bankruptcy and actually filing are two very different things, but don’t allow yourself to get stuck in the ...
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After Filing for Bankruptcy – Understand The Expectations
Once you’ve decided to file for bankruptcy and hand picked the bankruptcy attorney that makes you feel most comfortable, it’s important to understand the expectations. Specifically, you need to know what will be expected of you throughout the bankruptcy process. You can’t just shake your new bankruptcy attorney’s hand and ...
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Celebrate 2015 by Getting Out of Debt
It’s only a month until we’re irrevocably living in the year 2015. A new year calls for new goals and new plans and in some cases – an entirely fresh start. If you have decided 2015 is your year to be debt free you need to prepare now. In most ...
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The Story of Post-Bankruptcy Mortgages
Filing for Chapter 7 or Chapter 13 personal bankruptcy means a mark on your credit report for as long as 10 years. But contrary to the belief of many who fear filing for bankruptcy because of this fact, a record of bankruptcy on your credit report for up to 10 ...
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How Does Chapter 7 Affect an Irrevocable Trust to a Minor?
Individuals in financial trouble can file Chapter 7 bankruptcy in order to wipe their debt slate clean. It provides a fresh financial start. Filing for Chapter 7 means surrendering control of your assets. Assets are managed by the bankruptcy trustee assigned to your case and may be liquidated or sold ...
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Who Else Has Declared Bankruptcy: Millionaires with the Most Bankruptcy Filings
Are you considering filing for bankruptcy? Do you feel like you’re the only one who has had to resort to bankruptcy? Do you feel as if filing for bankruptcy means you are a financial failure? You would be wrong. To prove it, let’s consider some of the millionaires we all ...
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Should I Keep Paying Bills or Stop Paying My Bills if I’m Filing for Bankruptcy?
One of the most common questions from individuals who are about to file bankruptcy or are in the process of filing is, “Should I keep paying my bills or stop paying them before I file?” Since most who have decided to file for bankruptcy are either very overextended or delinquent, ...
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What Type of Debts Can California Bankruptcy Discharge?
Debt is something of a nasty word in today’s society. It is on the tip of everyone’s tongue when it comes to our nation’s financial health, so is it really that surprising to hear that a large percentage of American households are struggling to stay afloat amongst overwhelming debt? The ...
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How Soon Can I File Bankruptcy for the Second Time?
We don’t live in a perfect world. That’s why there are laws in place that are there to protect us from our own mistakes. One such helpful tool the law provides for us is bankruptcy. Sometimes we find ourselves in an impossible financial situation by no fault of our own. ...
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Credit Counseling vs. Bankruptcy
Nearly every bankruptcy consultation will eventually lead to one big question: Is filing Chapter 7 bankruptcy a better option than credit counseling? It’s a big question with a big answer because they are both valid options and the only way to respond to the question appropriately is with a list ...
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