Category Archives: Chapter 7
I Filed for Chapter 7 Bankruptcy. Will I lose my Assets?
If you are facing an insurmountable level of personal debt, you may be considering Chapter 7 bankruptcy. Chapter 7 bankruptcy can result in the loss of certain of your assets, but in the vast majority of cases, the filer’s exempt assets are mostly exempt and you can retain them. An experienced Bankruptcy lawyer will… Read More »
Best Practices to Do Prior to Filing for Bankruptcy
When you are facing an insurmountable level of personal debt, bankruptcy can be the way out. Although bankruptcy is not a legal process to take lightly, it is one to seriously consider if you feel like you cannot take control of your debt through other means. You can make the bankruptcy process easier for… Read More »
Eliminating Divorce Obligations through Bankruptcy
Bankruptcy is a tool used by many to reduce debts that they cannot reduce on their own. Individuals struggling with personal debt can use Chapter 7 or Chapter 13 bankruptcy to discharge their debts. If you are considering filing for divorce, you might be worried about the costs involved with the divorce process and… Read More »
When you are Facing Bankruptcy, You Need to be Completely Honest with your Lawyer – No Matter How Embarrassing
Your lawyer is a professional. When you work with a bankruptcy lawyer, you trust that lawyer to help you reduce your debt by advising you through each step of the bankruptcy process. Each bankruptcy case is unique, and a strategy that helps one individual get out of debt will not necessarily help somebody else…. Read More »
Do I Qualify for Chapter 7 Bankruptcy?
For individuals who are struggling with personal debt, such as credit card or medical debt, there are generally two bankruptcy options: Chapter 7 and Chapter 13. Each has unique demands for the bankrupt individual and unique benefits. Although many consider Chapter 13 to be the less austere because you may keep unlimited assets, you… Read More »
What Are Bankruptcy Exemptions?
When you decide to file for Chapter 7 or 13 bankruptcy, you may fear that you will have to surrender all your assets or be restricted to subsistence income. However, this is not the case. There are some assets that the government has no interest in taking, and there are some which will fall… Read More »
Bankruptcy & Private School Issues
For a variety of reasons, many parents in the U.S. choose to send their children to private schools. It can be a good fit for some children, but it does come at a cost. These school costs can become an issue if one or both parents file for bankruptcy. While a lot will depend… Read More »
Will Bankruptcy Help With Divorce Obligations?
Sometimes, a divorce can trigger a financial crisis for one or both parties involved. Adding divorce-related financial obligations like alimony or child support can cause significant problems, which may even lead to bankruptcy. It is perhaps natural to wonder if filing for bankruptcy will eliminate any of these obligations. Support Obligations The U.S. Bankruptcy… Read More »
How Will My Bankruptcy Affect My Spouse?
Bankruptcy is a last resort for the overwhelming majority of people. If you are forced by circumstance to have to file, you almost certainly have a thousand questions about the future, and that load doubles if you are married. Many couples file for bankruptcy jointly, but this is not always the best choice, and… Read More »
Considering Bankruptcy During Tax Time
If you are like the numerous other Americans who file for bankruptcy protection every year, you may be concerned about the long-term implications of filing. Maybe you worry how you will be able to afford a bankruptcy lawyer, or how long it will take to rebuild after the initial financial crash. But one thing… Read More »
