In every type of bankruptcy case, whether a Chapter 7 case or Chapter 13 case, a separate, distinct legal entity called the “bankruptcy estate” is created by operation of 11 U.S.C. §541 of the...
Whether you choose to file for Chapter 7 or Chapter 13 bankruptcy, the properties you own and the debts you owe will be subject to the bankruptcy process. In the case of Chapter 7, this means your...
Bankruptcy is an effective course of action for alleviating several types of debt, including credit card debt, mortgages, car loans, and medical bills. The system of bankruptcy is designed to provide...
If you’re struggling to meet debt payments and financial obligations with your income, you’re most likely eligible for Chapter 7 bankruptcy. The two main types of bankruptcy, reorganization and...
If you are considering filing for bankruptcy, you must prepare to work with a bankruptcy trustee for the entirety of your case. Your trustee will oversee your case at each stage, acting as an...
The individuals that file for bankruptcy in the U.S. often choose this option to relieve several kinds of accumulated debts. Most consumers hold the five common types of debt handled in a bankruptcy...
The holiday season is a time spent with family and friends, giving gifts, and attending festive gatherings. It’s also a time when the entire country greatly increases its spending. The pressure of...
Bankruptcy relief is a very powerful remedy. Quite literally, with a few exceptions, all of your legal, contractual obligations to pay debts are discharged and nullified. Creditors can never...
Whether you file for liquidation bankruptcy (Chapter 7) or reorganization bankruptcy (Chapter 13), a bankruptcy estate – a legal entity that is separate and distinct from you, the bankruptcy filer...
Just like the rest of the individuals in the U.S., those considering bankruptcy are often juggling many life situations. From divorce to custody battles, many of these situations involve legal...
In the U.S., bankruptcy is an option for individual consumers and small businesses alike. Despite the access that all parties have to the bankruptcy code, today’s bankruptcy laws have many...
While Chapter 7 bankruptcy is designed to help individuals and small businesses with low incomes and dischargeable debts, Chapter 13 is more beneficial to those who may have higher incomes yet still...
