When it comes to personal bankruptcy, there are two basic forms that can be pursued: Chapter 7 and Chapter 13. When many debtors reach the point of considering a bankruptcy filing, it may not be clear to them what form of bankruptcy they should pursue. What exactly are the differences between these two forms of… Continue reading What is the difference between Chapter 7 and Chapter 13 bankruptcy?
In our last post, we spoke a bit about some of the alternatives to bankruptcy, such as debt settlement, debt management, debt consolidation and credit counseling. As we noted, these approaches to debt relief have their respective advantages, and it is important for debtors to consider them before deciding to file for bankruptcy. How exactly… Continue reading Looking at alternatives to bankruptcy, P.2
In our last post, we began speaking about Chapter 7 bankruptcy and its benefits, as well as its limitations. As we noted, one of the limitations of this form of bankruptcy is that debtors must meet the financial qualifications. This involves the so-called means test. First of all, not all debtors considering Chapter 7 bankruptcy… Continue reading Chapter 7 bankruptcy and the means test
Some of our readers may know that there are two primary forms of bankruptcy for individual debtors: Chapter 7 and Chapter 13. Both forms of bankruptcy have their advantages and disadvantages, and it is important for debtors to work with an experienced attorney, first to determine whether or not bankruptcy is a good solution for… Continue reading Am I eligible for Chapter 7 bankruptcy?
Dealing with mortgage-related debt is an important goal for many debtors who enter the bankruptcy process. In Chapter 13 bankruptcy, one of the benefits for struggling homeowners is that they are able to do something known as “lien-stripping.” This refers to the ability to eliminate debts associated with second or third mortgages, provided the amount… Continue reading High court ruling a loss for underwater homeowners
