Bankruptcy and divorce – both can be sticky situations – combined them and you may have a real mess on your hands. Usually a bankruptcy takes precedence over a divorce. If you file a bankruptcy during a divorce you may delay the distribution of assets and debts until the bankruptcy case is completed. In other…

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Chapter 13 bankruptcy is the type of bankruptcy that allows for a reorganization of debts.  Chapter 13 can be a very useful tool to allow a debtor the opportunity to keep a home through bankruptcy even if they are behind on their mortgage payments at the time they file bankruptcy.  Many times this is not…

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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…

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There are several indicators that its is a good idea to declare bankruptcy. Why declare bankruptcy? For example when you’re paying for every day necessities with a credit card, your interest rates are rising because of missed payments, one credit card is paying off debt of another credit card, you have multiple jobs and it…

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