A Personal Bankruptcy Filing Can Help You Get Your Finances in Order If you're like most Americans, you want to make some changes in your life. For many, the turning of the calendar can be the perfect time and the right motivation to do just that. If one of your New Year's resolutions is to get your financial house in order, you may want to … [Read more...]
Dos and Don’ts before Filing for Bankruptcy Protection
How to Get the Most Out of a Bankruptcy Petition If you are struggling to keep your head above water financially, and you have no realistic prospects that your situation will improve, bankruptcy may be the best option for you. To ensure that you accomplish everything that you want with the bankruptcy, and that you don't run afoul of any laws, here … [Read more...]
Should You File for Bankruptcy before the Holidays?
The Benefits of Filing before the Holiday Season It's the holiday season—the "most wonderful time of the year," according to the old song. But if you're struggling financially, it can simply be the source of even more stress. The thought of filing for bankruptcy right before Christmas—now that's a real downer. But there are a number of good … [Read more...]
Common Mistakes Debtors Make on the Chapter 7 Means Test
Errors to Avoid So That You Qualify to Discharge Your Debts If you're looking for a fresh start in bankruptcy and you want to be permanently rid of some of your debts, you'll want to file a petition under Chapter 7 of the bankruptcy laws. To qualify, though, you'll need to submit to a "means test," whereby you demonstrate to the bankruptcy court … [Read more...]
What Debts Should You Pay While in Bankruptcy?
Payments You Want to Continue to Make after Filing for Bankruptcy When you file for personal bankruptcy protection, whether under Chapter 7 or Chapter 13, an automatic stay immediately goes into effect, preventing your creditors from calling, writing or taking legal action to collect certain debts. There's a common misperception that, once the … [Read more...]
Can I Keep My Car When I File for Chapter 7 Bankruptcy?
Can You Discharge the Debt and Keep Your Car? When you're facing seemingly insurmountable financial challenges, a Chapter 7 bankruptcy can seem like a dream come true. You can permanently discharge debts, so you won't ever have to pay those arrearages again. But can you discharge debt and keep the property? What if you have a car and still owe … [Read more...]
Key Questions When Considering Bankruptcy
The Most Important Things to Know Before You File You've been struggling to meet your financial obligations for some time and it doesn't look like things will be getting much better anytime soon. A personal bankruptcy filing may be what you need to get a fresh start. But you've never done this before. You want to know a few things first. What Are … [Read more...]