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Thinking About Filing for Bankruptcy: The People Who Could File

There are three types of bankruptcy: Chapter 7, Chapter 11 and Chapter 13. If one doesn’t suit the situation, another is probably a good option. Many individuals and businesses interested in filing contact an expert in bankruptcy requesting a black and white answer to the common question, “Should I file or not?” The difficulty with […]

Thinking About Filing Bankruptcy: The People Who Should File

Layoffs, pay cuts, foreclosures…there are so many reasons for the drastic increase in debt burdened Americans who are toying with the idea of filing bankruptcy. Some are filing personally and some are filing for their business. In the fiscal year ending September 30th, 2008, the number of filings reached 1 million. This was a 30%+ […]

What Happens to a Joint Banking Account When One of the Account Holders Files for Bankruptcy?

Now and then questions arise during a bankruptcy case regarding bankruptcy and joint accounts. For instance, a young man may be a joint account holder on his grandmother’s account in order to aid her in her banking needs. The money in the account is the grandmother’s: her savings and her day-to-day funds. It’s everything she has. […]

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 years doesn’t mean that you […]

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 in order to provide payment […]

Maxing Out Your Credit Before You File Bankruptcy

There are certain times during which individuals or families might see a major influx of credit card spending: wedding preparations, moving from one home to another, vacations, the holidays, the start of a new school year, etc. It’s understandable and there are a million different reasons why: you don’t have the cash, but you have […]

An Overview of California Personal Bankruptcy Options: Chapter 7 and Chapter 13

If you find yourself in an impossible financial situation, you are not alone. Hundreds of thousands of Americans find themselves in the same situation every year. Those hundreds of thousands turned to bankruptcy for a clear-cut solution. Many others are still out there, struggling to make ends meet or failing to make ends meet. The […]

How Long Does Chapter 7 Bankruptcy Last?

You know that point in the road trip when the kids all start asking how much longer until you get there? At first they take turns asking quietly. But the longer you are in the car, the louder and more repetitious the questions get regardless of the length or accuracy of the answers they are […]

5 Questions to Ask When Trying to Decide if You Should Declare Bankruptcy

When trying to decide if you should declare bankruptcy there are 5 questions you should ask yourself. Knowing your answers to these questions will enable you to feel comfortable and confident in your choice. This is extremely important because of the fact that deciding how to resolve your financial crisis is a choice that will affect you […]

Before You File: A Bankruptcy To Do List

There’s a lot of discussion about filing for bankruptcy and what to expect once debts have been discharged, but there aren’t as many resources regarding what to do before you file. There’s a small lull between the panic of impossible financial burden and actually filing bankruptcy with the help of an experience bankruptcy lawyer that […]

What to Expect Once You’ve Filed for Bankruptcy

Right after you file for bankruptcy, your credit will not be strong. Although it’s interesting to consider that any individual filing for bankruptcy wasn’t enjoying a “strong” credit rating immediately prior to filing either. The very same circumstances that led them to file for bankruptcy have already wreaked havoc on their credit, almost without exception. What […]

Chapter 7 vs. Chapter 11 for Small Businesses

When filing for bankruptcy the first decision that has to be made is what type of bankruptcy will be filed. There are certain qualifications for each and each one has its own pros and cons. Chapter 7 bankruptcy, put simply, is a case of liquidation. It can be described as the most straightforward solution to […]

When is the Right Time to File for Bankruptcy?

When should you file for bankruptcy? Obviously the time to file is when it’s necessary due to financial crisis, but once you have decided that your situation warrants bankruptcy, when should you file? Is there a best time to start the proceedings? Depending upon the time you file, you could save a noticeable sum of […]

Your Bankruptcy Timeline

One of the most common questions regarding bankruptcy is one of the simplest: what is going to happen? That’s why we find it so helpful to make sure that everyone even considering filing knows each and every step that can be expected along the way. Here is your timeline of events to expect during the […]

Only You Have to File for Bankruptcy, Right?

Do you ever feel like you are the only one that is being forced into filing bankruptcy? Do you wonder how everyone else somehow keeps it together, makes ends meet, has all they need and successfully navigates their finances? How is that you are the only person who has to file? If you are feeling […]

Defining Your Bankruptcy Options: Chapter 7, Chapter 11 and Chapter 13

When considering solutions to financial catastrophe, bankruptcy is an obvious choice. Legal professionals can walk individuals in need of bankruptcy advice through the basics and show them the ropes, but it’s best to walk into this type of situation with a basic understanding of the terminology. It helps avoid confusion. Generally speaking, bankruptcy is a […]