Filing for bankruptcy has lasting ramifications on your credit. However, it can give you a fresh start by allowing you to eliminate some of your debts or create a repayment plan, depending on the type of bankru
Bankruptcy is a legal proceeding that assists debtors who are overwhelmed by their debts or unable to meet their current debt repayment schedule. But the devil is in the details, as is often the case with legal proceedings. That's why it is important for any New York resident considering f...
Bankruptcy, often considered a last financial resort, is a legal process that can help alleviate outstanding debts for individuals and businesses. Reasons to file for bankruptcy can include divorce, job loss, exorbitant medical bills or credit card debt. There are also alternatives you may want to...
We will provide you with valuable insights and practical tips to help you navigate through this complex and often intimidating process. It is crucial to note that while this guide provides general information on filing bankruptcy, it should not be considered as legal advice. Every individual’s ...
Chapter 7 bankruptcy is usually filed by an individual who has more debts than they can stay on top of. An individual or a business overwhelmed by debt can file for Chapter 7 bankruptcy. Some property is termed "exempt" and will not be sold in bankruptcy, but most will, with the proceed...
This form of bankruptcy allows individuals with regular earned income to develop a plan to repay their debts - often referred to as the wage earner program. This can allow individuals to rebuild their finances instead of starting over and helps them avoid foreclosure on their home or other prope...
You now know that bankruptcy is divided into different Chapters. If you wish to file as an individual (personal bankruptcy) you can do so under chapter 7 or chapter 13. When you are troubled with debt, understanding the process of filing for bankruptcy, may not be what you need to focus...
How Bankruptcy Works When you declare bankruptcy, you file a petition with a federal court. While you can technically do this on your own (also known as filing “pro se”), it’s not recommended. Bankruptcy law is complex, and a single mistake can significantly harm your case. Instead, ...
Often, yes it will, even if it is usually not a long term solution.Continue Reading Can The Bankruptcy Filing Fee Be Waived? ByScott RiddlePosted inBankruptcy Basics,Chapter 13,Chapter 7 Virtually all courts, from local city courts to the Supreme Court of the United States, charge filing fe...
structured repayment plan to pay off their creditors, often over 3 to 5 years. This type of bankruptcy makes more sense for those with assets they want to protect, like a house or car. Chapter 13 bankruptcy provides an opportunity to restructure secured debts and repay creditors more gradually...