Chapter 13 bankruptcyis a process that allows a debtor to seek shelter from creditors and set up a debt repayment plan while protecting their assets from liquidation. It is a common type of bankruptcy, but it's only available to individuals with sufficient income to stick with the repayment pl...
Chapter 13 Bankruptcy versus Chapter 7 Bankruptcy: An indebted individual can choose between Chapter 7 Bankruptcy, liquidation, or Chapter 13 Bankruptcy, reorganization. Income is the main criteria to determine which Chapter to file under. The debtor must have a steady viable income to fund Chapter...
For someone who does not have experience with bankruptcy, the process is likely to invoke a sense of anxiety that can be overwhelming. There are seemingly countless factors involved, with many that have the potential to grind the procedure to a halt if done incorrectly. One of the most ...
so there really is no added stress at all. You don't have to worry about how or if you could afford what you need help with. So very friendly. Very understanding. Reasonable. They also take the stress and worry off your shoulders of the word bankruptcy. It really isn't as scary as...
Chapter 13 is much simpler, especially for those who have retained consumer bankruptcy attorneys. You file your bankruptcy paperwork; attend a meeting to check your paperwork, get more information about your financial situation and proposed payment plan; and complete the confirmation process t...
No prior bankruptcy in the past 6-8 years (depending on the type of bankruptcy previously filed) Pass the means test Learn more about Chapter 7 Bankruptcy including the advantages and disadvantages. Discover More OUR UNIQUE CHAPTER 7 PROCESS & FEES ...
Chicago bankruptcy lawyer Lorraine M. Greenberg can help you get a fresh start. Call 1-800-519-0090 for a consultation with Chicago, IL bankruptcy attorney.
Chapter 7 bankruptcy is a debt relief process that is focused on individuals and allows for their eligible debts to be completely discharged. Chapter 11 bankruptcy is focused on businesses and repayment of debts through reorganization of the business. ...
The main reason for an individual to file for Chapter 13 bankruptcy is to prevent theliquidationof all their assets. It is frequently used to avoid the forced sale of an individual’s home, which Chapter 7 can’t do. Chapter 11 may also prevent a forced home sale, but is usually too e...
By contrast, Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's financial affairs. It is most often used by companies, though it is available to some individuals, as well. The main difference is that the entity filing for bankruptcy remains in control of more o...