In some instances, people will be able to choose between Chapter 7 and Chapter 13 Bankruptcy. For others, they won’t have a choice and will be forced to file for Chapter 13 Bankruptcy. This means that instead of your debts being completely discharged, they will be...
Each state has laws that determine which items of property you can keep in Chapter 7 Bankruptcy, and in what amounts. Essentially, these exempt items cannot be taken by your creditors or by the bankruptcy trustee even though you are going through bankruptcy. The...
It’s not a secret that many Americans have too much debt. To make matters worse, they are living paycheck to paycheck and are not building up any savings for emergencies. Our economy is driven by consumer spending as two-thirds of GDP comes from Americans spending...
Let’s face it… anyone who ever files for bankruptcy needs it. Often times due to circumstances out of their control, people have no other option than to file for bankruptcy to eliminate or reduce debt. A typical scenario is a person that has large amounts of credit...