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Chapter 7 Bankruptcy: Too Much Equity in Your Home

One of the only times that having “too much equity” in your home will hurt you is when you are filing for Chapter 7 bankruptcy. It seems contradictory, but having too much equity in your home can seem to turn into a consequence for petitioners hoping to obtain a discharge of debt through Chapter 7 […]

Forced to File Chapter 7 Bankruptcy: To Reaffirm or Not to Reaffirm?

If you are underwater on your house and find yourself past due on your mortgage, you may feel that your hand is being forced. You might feel that you have no other choice, but to file for bankruptcy. Feeling forced to file for Chapter 7 bankruptcy isn’t the best situation, but you do still have […]

Forced to File Chapter 7 Bankruptcy: To Reaffirm or Not to Reaffirm?

If you are underwater on your house and find yourself past due on your mortgage, you may feel that your hand is being forced. You might feel that you have no other choice, but to file for bankruptcy. Feeling forced to file for Chapter 7 bankruptcy isn’t the best situation, but you do still have […]

Protecting Your Home Equity and Bankruptcy

Many who find themselves in financial straits worry about the fact that they have worked hard to purchase a home and pay substantial sums of money towards paying off the loan so they could own outright. When the time comes that you realize that you are about to be sued for nonpayment, the first thing […]

What Happens to Judgments You Hold When Filing for Bankruptcy?

There is always a lot of discussion regarding judgments and bankruptcy. But in most cases, the discussion is all about how to avoid getting a judgment against you for outstanding debt or how to handle a judgment if it’s already in place, etc. What we don’t talk about very much is what happens if prior […]

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 […]