Ultimately, it's important to weigh the total costs, both monetarily and otherwise, related to the differentdebt relief optionsand compare them to the potential benefits. Some people may be willing to deal with the credit consequences of filing for bankruptcy to try to get a fresh start after...
It’s a classic catch-22: You’re in rough financial shape and need to file forbankruptcy. But between filing fees and the cost of hiring the right bankruptcy attorney, you could end up paying hundreds or even thousands of dollars to do so. Here’s what bankruptcy costs — and how to ...
When you file for bankruptcy, what happens to your car will depend on several factors. These include bankruptcy exemptions in your area, the type of bankruptcy you file, if you owe money on your car, and how much money you owe. In many cases, you will be able to keep your car as lo...
Once real and personal property assets are sold and the proceeds distributed, much of the remaining debt, if any, is forgiven as part of the bankruptcy discharge. Some debts, like certain student loans and back child support payment are not dischargeable in bankruptcy. Eligibility for Chapter 7...
Considering filing for bankruptcy? It's important to understand the basics before jumping in. There is much to be gained by a successful bankruptcy case, but there are definitely negative consequences as well. Bankruptcy Law Basics Most people have heard ofbankruptcy, but few understand the basics...
There are two kinds of personal bankruptcy for which you can file: Chapter 7 and chapter 13 bankruptcy. What’s the difference between chapter 7 and chapter 13 bankruptcy filings? To put it simply, chapter 7 can wipe out all your eligible debts. You will need to sell as much property as...
Learn how to file bankruptcy on credit card debt and get your finances back on track. Find expert advice and guidance on managing your finances and dealing with credit card debt.
Chapter 13 Bankruptcy Individuals who make too much money to qualify for Chapter 7 bankruptcy may file underChapter 13, also known as a wage earner's plan. It allows individuals—as well as businesses, with consistent income—to create workable debt repayment plans. ...
Chapter 7 simply liquidates the company's assets, while Chapter 11 allows the business to continue to operate under a reorganization plan. If a company you've invested in declares bankruptcy, how much you're likely to get back will depend on the type of bankruptcy and the kind of investment...
I next turn to a consideration of the process for overseeing bankruptcy costs. I briefly trace the history of court control of compensation in corporate bankruptcy, and then detail the current legal structure. The final part of the chapter then surveys the existing understanding of chapter 11 ...