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November 2017 Archives

Do I Have to List Debts to Families & Friends in My Bankruptcy?

Do I have to List Debts to Families & Friends in My Bankruptcy.jpgHonesty is the best policy when it comes to dealing with the bankruptcy court and communicating with the bankruptcy trustee. The Trustees usually have enormous experience in working with debtors, and know when someone is not truthful. It is therefore critical that you be entirely truthful in your petition.

Bankruptcy: What is the Limit on Assets for Chapter 13 Eligibility?

Bankruptcy What is the Limit on Assets for Chapter 13 Eligibility.jpgWhile many debtors find Chapter 7 bankruptcy to be an attractive choice for filing due to the discharge available in three to six months, if they cannot pass the Means test, they must file for Chapter 13 instead. Known as the income-based bankruptcy, Chapter 13 offers many different benefits to the filer; for instance, if your home is under threat of foreclosure, it will be stopped immediately with the automatic stay, an injunction which prohibits creditors from pursuing any collections activity throughout the duration of the bankruptcy. If you are behind on payments, they can also be included in the repayment plan, allowing you to catch up-if you are also making your normal monthly.

Understanding the Different Types of Bankruptcies

Thumbnail image for Understanding the Different Types of Bankruptcies.jpgUnless you have filed for bankruptcy previously or are an experienced bankruptcy attorney, you probably have many questions about the differences between Chapter 7, Chapter 11, and Chapter 13 bankruptcies, whether one would be right for your situation.

Chapter 7 & Chapter 13 Bankruptcy: Three Fears That Keep Debtors from Filing

Chapter 7 & Chapter 13 Bankruptcy Three Fears That Keep Debtors from Filing.jpgThere is often a lot of emotion attached to how and when we spend money. For instance, we spend when we are happy, we indulge in retail therapy when we are bored or sad, and we may even feel depressed when we cannot pay the bills. While mismanagement of money is sometimes the reason for our financial downfall, more often it is due to an unexpected life event like a major illness, car accident, loss of job, or even divorce.

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