Yearly Archives: 2019
Your Common Questions About Bankruptcy Answered
Filing for bankruptcy can be a difficult and overwhelming decision, and it comes with a lot of questions. However, bankruptcy can be a viable solution that can help get you back on track. Here are some of the most common bankruptcy questions and answers to help you decide if this debt relief option is… Read More »
Can Bankruptcy Avoid Car Repossession?
Most people rely on their cars for getting to work, picking up the kids from school, and daily errands. However, individuals who struggle to make their car payments may find themselves so far behind that they risk losing their car. If you are facing insurmountable debt and are having a tough time keeping up… Read More »
How to Get a Bankruptcy Exemption
Exemptions can help you keep specific property when filing for Chapter 7 or Chapter 13 bankruptcy. Bankruptcy law can be challenging to understand, but knowing the exemption basics can help you make the right decisions on which bankruptcy option is best for you. Here’s what you can keep when filing for bankruptcy in California…. Read More »
How Much Debt Must I Have to Be Eligible for Bankruptcy?
Most people who file for bankruptcy do so because they have an overwhelming amount of debt and are unable to keep up with managing expenses and paying bills. However, despite popular belief, there isn’t a minimum debt requirement to be eligible for bankruptcy. Before you make a decision, there are some things you should… Read More »
Who is Eligible to File for Chapter 13 Bankruptcy?
There are many reasons why people struggle with debt. Whether it’s an overwhelming amount of medical bills, high credit card balances or exorbitant mortgage payments, not being able to keep your head above water financially can be stressful. Although your debt situation may seem hopeless, Chapter 13 bankruptcy can be a viable option in… Read More »
Can Bankruptcy Save My Property?
Bankruptcy can be a great option to rectify many challenging financial situations, including loss of property. If you are being threatened with foreclosure, car repossession, or any other loss of property that is important to you and your family, here’s why you may want to consider filing for bankruptcy. Stopping Foreclosure Facing foreclosure is,… Read More »
Is The Means Test Required in Chapter 13 Bankruptcy?
Since the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was passed in 2005, many changes were made to U.S. bankruptcy law, which included the provision of the bankruptcy means test. Although the means test isn’t necessarily required if you already know you want to file for Chapter 13, there are some good reasons… Read More »
Secured vs. Unsecured Debt: What’s the Difference?
Difference Between Secured vs. Unsecured Debt Simply put, the main difference between secured and unsecured debt is whether or not collateral is being used. Unsecured debts do not have collateral backing, while secured debts requires that the borrower put up assets as a backing for the loan. If you’re contemplating filing for bankruptcy, you… Read More »
How Chapter 13 Bankruptcy Can Protect Property
Chapter 13 bankruptcy, also known as a wage earners’ plan, can be a viable option in resolving debt issues that involve property. Through the Chapter 13 repayment plan, you can pay back your debt within three to five years as well as save your home and other property. Here’s how Chapter 13 bankruptcy can… Read More »
Can Creditors Attempt to Lift an Automatic Stay?
An automatic stay is one of the most helpful tools when filing for bankruptcy. Under U.S. bankruptcy law, creditors and debt collectors are not permitted to contact debtors, as well as pursue any further legal action during the bankruptcy process. While filing for bankruptcy can keep your creditors at bay, there are some situations… Read More »