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How Can You File For Bankruptcy If You Are Unemployed?

Call: 888-297-6203 You can file for bankruptcy when you are unemployed, it is especially for people who lost their job and are looking for debt relief. Filing for chapter 7 and chapter 13 can help you get debt relief even if you are unemployed. Which chapter to choose for you all depends on your total debt, your income, and how you are going to repay if you file for chapter 13. When filing for Chapter 7 bankruptcy, you need to pass the means test, and if you qualify you can get all or some of the debts discharged. [...]

2023-05-29T13:22:47+00:00
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Is A Court Proceeding Required After Filing For Bankruptcy?

Call: 888-297-6203 A lot of people apply for bankruptcy just to get away from a stressful life. Be it the loss of a job, illness, divorce, or anything as such. The thought of going to court after all this stress becomes another tension. 1) Mostly Chapter 7 does not require going to court Chapter 7 helps free you from your financial tensions, and not add another pressure on you. It is mandatory to appear at the 341 meetings or the meeting of creditors. But in very rare cases does going to a courtroom take place if you apply [...]

2023-05-19T07:20:46+00:00
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Difference Between Chapter 7 And Chapter 13 Bankruptcy

Call: 888-297-6203 Depending on how much money you make, you'll either be qualified to have your debt wiped out in Chapter 7, or enter into a repayment plan in chapter 13. Both chapter 7 and chapter 13 will offer you solutions to get back on your financial front. Apart from having some similarities between both the chapters like state exemption allowing you to keep a certain amount of property, there are a lot of differences between the two chapters. Chapter 7 works if you don't make a lot of money at the end of the month, or if [...]

2023-05-29T12:42:44+00:00
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What Is The Right Time To File For Bankruptcy?

Call: 888-297-6203 Filing for bankruptcy gives you a second chance at life but you should not file at the first sign of financial distress because it has both long-term and short-term consequences. Before filing, you need to do these things- Stick to a budget Talk to your creditors and try making a payment plan. Go for credit counseling. Doing these things will give you a better perspective of your financial situation and help you make the decision better. What is bankruptcy? Bankruptcy is a process where you can get rid of some or all debts with the help [...]

2023-05-29T13:19:06+00:00
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What Happens When Military Members File For Bankruptcy?

Call: 888-297-6203 Members of the military involved in active duty, protecting the homeland, or sent overseas, have special protections accorded to them in case of monetary problems and bankruptcy. The Servicemembers’ Civil Relief Act (SCRA) is a federal law designed to protect the rights of the servicemembers in case of civil actions, including a bankruptcy filing. What is SCRA? The SCRA is an act that allows servicemembers to focus their energies on the defense of the country while it takes care of any administrative proceedings which may cause them to lose focus. This is done by temporarily suspending [...]

2023-04-21T12:03:11+00:00
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Differences Between Chapter 7 And Chapter 13 Bankruptcy

Call: 888-297-6203 While going through financial problems, people often look up to bankruptcy filing as a means to get rid of their debt. However, consumers can file under Chapter 7 or Chapter 13 bankruptcy. There are differences in how the debts are treated in these two chapters. Moreover, the qualification criteria also differ for these chapters. As a result, it is important to understand the differences between these two chapters. Benefits of Chapter 7 bankruptcy This bankruptcy chapter is complete in 3-6 months compared to chapter 13, which takes around 3-5 years. Most of the dischargeable debts, including [...]

2023-05-19T07:12:56+00:00
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Can Taxes Owed To IRS Be Discharged In Chapter 7 Bankruptcy?

Call: 888-297-6203 Bankruptcy filing is a tough but necessary decision, especially if you struggle with a huge debt. Loss of a job, sudden medical expenses, or a messy divorce can lead to an unexpected monetary crunch. If you are facing difficulty in managing finances and have creditors hounding you, seeking consultation from a bankruptcy attorney is advised. One of the major concerns is whether taxes owed to IRS can be discharged on bankruptcy filing? For this, you need to fulfill certain conditions. The 3-year rule: As per Bankruptcy Code 507(a)(8)(A)(i), taxes become due on April 15 of the [...]

2023-06-27T07:28:49+00:00
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Chapter 7 Bankruptcy Filing Process

Call: 888-297-6203 The complete process of filing for chapter 7 bankruptcy takes about 3 to 4 months. Before going forward, the first thing you need to do is determine whether chapter 7 is the right option for you. 1) Evaluate your debt You need to see the kind of debts you have. You need to see if your debts are dischargeable or non-dischargeable. In the case of non-dischargeable debts, chapter 7 is not the best option. 2) Probability of a property loss When applying in Chapter 7, there is a potential to lose property too. The trustee, to [...]

2023-05-19T07:22:38+00:00
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Understanding The Basics Of Chapter 13 Bankruptcy

Call: 888-297-6203 Filing for bankruptcy under Chapter 13 puts an automatic stay in place that prevents creditor actions, including wage garnishments, foreclosure, and repossession. Apart from this, the other benefits of this chapter include lowering payment for unsecured non-priority debts (credit card balance, medical bills, personal loans, etc.), catching up on past due payments, etc. While Chapter 7 can get you a discharge earlier and without paying anything to the creditors, qualifying for this chapter is easier said than done. If you fail the Means test, Chapter 13 is the best way to get rid of your debts. [...]

2023-05-29T12:27:31+00:00
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The Reality Of Bankruptcy

Call: 888-297-6203 Filing for bankruptcy is time taking process that will require a lot of hard work from your side too but it might be the best solution for you if you have a lot of debt and want to start a new fresh life. Some of the benefits of filing for bankruptcy are- It stops collection efforts or harassment of the creditors. It stops debt lawsuits from creditors. Stopping Wage garnishment (your creditor taking payments directly from your paycheck) Stops foreclosure if your property is not yet sold. It also stops repossessions of some property( in chapter [...]

2023-05-29T12:50:46+00:00
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