Using bankruptcy to permanently resolve common debts like credit cards, medical expenses, mortgages, car loans, personal loans, and even tax debts can be an effective, yet complicated process. Bankruptcy law is nuanced and shifts in the way it handles the financial situations presented in each petition on a case-by-case basis. There are two types of
People struggling with making monthly payments on any of their debts have likely looked into ways to resolve those debts in alternative ways. Bankruptcy is one of the ways that thousands of individuals use to find permanent relief from debts they would otherwise never be able to resolve each year. Individual consumer bankruptcy can permanently
Many farming or fishing operations face difficulties year-round, often from the financial conditions that have worsened over the last few years. Low farming and fishing commodity prices and volatile weather conditions have become major challenges, especially for family-owned operations. Due to these problems and more, the rate of family farmer and fisher bankruptcies has gradually
Individuals working through a bankruptcy case have most likely been introduced to the complexity and nuances of the legal process and court requirements. When you file for bankruptcy, you are required to provide comprehensive details of your income sources, debts, properties, and all other financial information. Not only can this documentation be daunting for most
Under today’s bankruptcy laws, it’s very difficult to receive a discharge of student loan debt. While some lawsuits and proposed laws might signal a change in the way student loans are handled in individual consumer bankruptcy cases in the future, they are currently almost always excepted from discharge. In order to have a student loan
It’s very common for a bankruptcy to follow a divorce, and the legal settlements that a divorce establishes can be affected in various ways with a subsequent bankruptcy filing. While domestic support obligations, such as alimony and child support, are typically excepted from discharge in any bankruptcy filing, many other obligations incurred through a divorce
Bankruptcy can be a highly complex legal process. However, it can and will help you permanently resolve debts you can’t repay. Understanding the nuances of bankruptcy law typically requires a law degree and extensive experience. While it’s possible to file for bankruptcy without the help of an attorney, it’s certainly not recommended. The bankruptcy court
At Behm Law Group Ltd., we provide legal guidance, support, and protection for individual Chapter 7, 12, and 13 bankruptcy cases as well as Chapter 7 and Chapter 13 business cases. Chapter 7 works to discharge your debts in exchange for the liquidation of your non-exempt assets. Both Chapter 13 and 12 work as reorganization
Bankruptcy is a debt-resolving process that can help with common unsecured debts, like credit card bills and medical expenses, several secured debts, including mortgages and car loans, and many other miscellaneous debts, like some tax debts. When you file for bankruptcy, you also get the benefits of the automatic stay, which forces your creditors to
The two main types of individual consumer bankruptcy are Chapters 7 and 13. Chapter 7 is a liquidation process that liquidates your non-exempt assets in exchange for the discharge of your debts. You are allowed to claim exemptions to protect certain properties, such as your home and car and other property. In fact, in most
