“Conversion” is switching from one bankruptcy chapter to another before the bankruptcy case is completed. Focusing here on “converting” from Chapter 7 to 13, why would you want to make this switch between these very different options? You would do so essentially, either voluntarily and involuntarily. Either because 1) changed circumstances make … [Read more...]
Debts Not Discharged in Chapter 7
May 6, 2013 by Leave a Comment
The vast majority of debts are “discharged”—legally written off—if you file a “straight bankruptcy” Chapter 7 case. Bankruptcy law actually says that ALL debts are discharged EXCEPT for a limited list of specific kinds of debts that are not. So, the discharge of debts granted under Section 727 of the Bankruptcy Code applies to ALL debts except … [Read more...]
Chapter 7’s Treatment of Secured Debts
February 25, 2013 by Leave a Comment
A Chapter 7, sometimes called “straight bankruptcy,” provides you with a number of important advantages with your secured debts. Those are debts in which your obligation to pay is secured by collateral, specifically by certain rights that the creditor has over your collateral. If you do not stay current on the agreed payments on the debt, the … [Read more...]
How-You-Can-Benefit-From-A-Chapter-13-Bankruptcy-Filing/
November 3, 2011 by Leave a Comment
If you live in or around Rockwall, Texas, and you are struggling to make ends meet, a Chapter 13 bankruptcy filing can get you the fresh financial start you need. Not only will a bankruptcy filing put an immediate end to the harassing phone calls, letters and other efforts by creditors and bill collectors, but it can give you the time you need to … [Read more...]
Consumer-Vs-Commercial-Bankruptcy
October 4, 2011 by Leave a Comment
If you own or operate a business, and you are struggling to pay your bills, you may be considering a personal or business bankruptcy petition. You may be uncertain of the options available to you, and whether your interests will best be served by a consumer or commercial bankruptcy. This blog post identifies the different options in personal and … [Read more...]
can-You-Keep-Your-Property-When-Filing-For-Bankruptcy-Protection
July 25, 2011 by Leave a Comment
If you are struggling to pay your bills, you may have considered personal bankruptcy as a way to stop creditor harassment and get a fresh financial start. You may worry, though, that you will put all your assets at risk, that you may lose all the property you worked so hard to obtain. This blog post addresses how the consumer bankruptcy laws affect … [Read more...]
Pros and Cons of Filing for Bankruptcy
September 13, 2010 by Leave a Comment
A personal bankruptcy filing can help you get a fresh start, putting an end to the non-stop phone calls, letters and legal actions you face. There are consequences to filing for bankruptcy, though. Before submitting aChapter 7 or Chapter 13 petition, you want to consider all the advantages and disadvantages, so that you make the decision that is … [Read more...]
