Bankruptcy helps people who can no longer pay their debts on their own get a fresh start by liquidating their assets to be able to pay their debts or by creating a repayment plan. These are called Chapter 7 bankruptcy and Chapter 13 bankruptcy respectively. Filing for bankruptcy will in most cases prevent your creditors… Continue reading Why bankruptcy is the best option
Category: Chapter 7 Bankruptcy
Bankruptcy when married filing individually
If you are married you can file bankruptcy with or without your spouse. Filing bankruptcy without your spouse depends on your assets and your income if it is better for you to file with your spouse or individually. If you are married filing individually, your spouse does not have to attend the 341 creditors meeting… Continue reading Bankruptcy when married filing individually
Bankruptcy to clear all debt
Had someone send me a question about a bankruptcy to clear all debt. What they were talking about was filing for Chapter 7 bankruptcy. A Chapter 7 bankruptcy is designed to wipe out most if not all of your unsecured debts (debts that are not somehow tied to property). Where a Chapter 13 bankruptcy can… Continue reading Bankruptcy to clear all debt
Why bankruptcy is important
Ever wonder why do we have bankruptcy and why it’s important? Bankruptcy is important because it is one of the few tools we have to free ourselves from financial enslavement. People who cannot work freely are unproductive yet when debtors become liberated from their debts they usually once again become productive and functional to society. … Continue reading Why bankruptcy is important
Bankruptcy can be hard on so many levels
Bancruptcy, Bankrupse, Bankrupcie, Bankrupsy, Bankrutpcy, Bankrupsie, Bankruptcse, Bankraptcy, Bancruptsty, Bankrupsy, Bakruptcy, Bankrupty, Bankrupcy, Bancrutpcy Recently an attorney friend of mine commented about the sign at the hearing location we were attending had misspelled the word “bankruptcy”. Bankruptcy can be a hard word to spell. So I decided to start to keep a list of the many ways that I… Continue reading Bankruptcy can be hard on so many levels
Bankruptcy to stop garnishment
Sometimes a creditor obtains a judgment against a debtor and the seeks ways to collect on that judgment. Usually the first place they look to collect on their judgment is the debtors wages. If a debtor is employed it can be easy for the creditor to look at garnishing wages. Wage garnishments are when the… Continue reading Bankruptcy to stop garnishment
What bankruptcy district am I in
The U.S. Bankruptcy Court is part of the United States Federal Court System. As of the writing of this blog there are 94 Bankruptcy Districts in the United States. In all districts there is at least one siting bankruptcy court judge and a clerk of court. Almost all federal bankruptcy districts have more than on… Continue reading What bankruptcy district am I in
Bankruptcy dismissal vs discharge
There appears to be a lot of confusion out there about what is actually a bankruptcy dismissal vs discharge. These are two very different things and you should understand both of them. When you are a debtor you do not want a dismissal of your case. A bankruptcy dismissal will closed your case in fact… Continue reading Bankruptcy dismissal vs discharge
Which bankruptcy is the worst
This is an interesting question. Worst in what way? This is my first come back to such a question since if your are a creditor you probably think all bankruptcy is bad (if you are a creditor read about Chapter 13 – it is actually good for creditors). If you are a debtor, I take… Continue reading Which bankruptcy is the worst
Bankruptcy when you own a house
Many people want to know if they file bankruptcy what will happen to their house. The treatment of your house in bankruptcy will be different depending on which type of bankruptcy you end up filing. There are a number of types of bankruptcy. The type of bankruptcy you file can be tricky decision and any… Continue reading Bankruptcy when you own a house