Options Besides Bankruptcy

When you’re struggling with debt, filing for a Chapter 7 bankruptcy or Chapter 13 bankruptcy may be a good option. However, before doing so, you should take some time to see if there are any alternatives available because these could be your best remedy. Negotiate With Your Creditors If you either have some disposable income or you’re willing to sell some of your assets to get this type of income, you should try to negotiate with your creditors before filing for either a Chapter 7 Read More +

Does Dismissal Of A Bankruptcy Dismiss Any Adversary Proceedings?

If a debtor files Bankruptcy, whether a Chapter 7 or Chapter 13 Bankruptcy, does an adversary proceeding filed against the debtor, subsequently result in the dismissal of the adversary proceeding? Some debtors who file a consumer form of bankruptcy, such as a Chapter 7 or Chapter 13, may expectantly or unexpectantly find themselves a defendant in an adversary proceeding. An adversary proceeding is an action filed in the bankruptcy court in which a creditor objects to the dischargeability of a certain debt based upon either Read More +

In Which Courthouse Should I File Bankruptcy?

Under Title 28, Section 1408, cases under Title 11, are filed in the District Court for the District in which the person or entity filing Bankruptcy has for the prior one hundred eighty (180) days or the longer portion of the prior one hundred eighty (180) days, maintained either one’s domicile, residence, principal place of business OR principal assets. Although “residence” and “domicile” are not specifically defined in the Bankruptcy Code, one’s residence is generally held to be where one lives, or dwells, whereas a Read More +

Relationship With Credit Card Companies After Bankruptcy

One of the common myths circulating about bankruptcies is that after you have filed for bankruptcy, it will not be possible to use the services of credit card companies again. But keep in mind that there are thousands of credit card users out there, that filed for bankruptcy. Yet they are getting new offers. You can very well find new offers even after filing for bankruptcy. The bankruptcy filing can be an opportunity for rebuilding the creditworthiness. There is no need to avoid credit cards Read More +

Effect Of Conversion Of Chapter 13 Bankruptcy To Chapter 7 Bankruptcy

Bankruptcy Code Section 348(f) states when a Chapter 13 Bankruptcy is converted to a Chapter 7 Bankruptcy, the Bankruptcy Estate does not include property acquired by the Debtor after the original Chapter 13 Bankruptcy was filed. This is an interesting element of Bankruptcy Law because in a Chapter 13 Bankruptcy the Bankruptcy Estate can include property or assets that are held by the Debtor both before the filing of the Bankruptcy and after the filing of the Bankruptcy, during the entire term of the Chapter Read More +

Will Everyone Find Out You Filed For Bankruptcy?

Filing for bankruptcy is a tough time. You may be uncertain or scared of the future. Perhaps you are worried about who will all find out you had to file. This is a completely normal feeling and one that many who have filed for bankruptcy have felt. We often hold the feeling our loved ones feel with high regard. But who must absolutely find out you have filed? First off, an attorney will tell you that bankruptcy can be the best option if you need Read More +

Do Not Allow Debt Collectors And Bankruptcy Ruin Your Mental Health

The number of professional economists that have plans to keep on working beyond their 70th birthdays is a lot higher than the overall percentage of workers planning the same thing. But it is stressful to think about money all the time no matter how well you adhere to the budget. Financial hardships can ruin your mental health. This is made worse when debt collectors are continuously bombarding your emails and phones with aggressive communications regarding the debt. The first step for getting out of bankruptcy Read More +

Alternatives To Paying The Collection Agencies

It can be truly unpleasant to deal with collection agencies. A lot of people wonder how their debt became the business of a collection agency in the first place? In most cases, the creditors such as credit card companies or some other organization you have received services from, send the debt to the collection agency after four months of non-payment. If the creditor tried to contact you to seek payment in this period and failed to do so he will send the case to a Read More +

The Effects Of Bankruptcy On Your Credit Report

Your credit score is more important than ever before, affecting everything from your job prospects to your credit card interest rates. Many people use their energy to acquire and keep the best credit score possible, but sometimes this isn’t possible due to an unforeseen event. When this happens, you may need to file for liquidation. How the Bankruptcy Process Works When you take out a credit card or loan, it’ll be listed on your credit report. If you can’t pay, the information will fall off Read More +

What You Should Know About Bankruptcy And Your Credit

Unfortunately, 2021 hasn’t been a good year for many people financially. The tough economy has led to furloughs and layoffs, leaving people in a disastrous financial position. Even if you’re lucky enough to have been able to return to work, you may find that you’re still faced with a reduction in pay or hours. When faced with financial issues, you must make some tough decisions at the end of the month. You need to decide which bills to pay now and which ones to pay Read More +