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What Are Nondischargeable Debts?

Call: 888-297-6203 If you have been struggling with huge debts, especially medical bills, credit card balance, or personal loans, filing for bankruptcy is excellent. However, bankruptcy cannot help you get rid of all your debts. Some debts survive bankruptcy and are therefore known as nondischargeable debts. Here is a list of debts that will not be discharged even after bankruptcy: Debts incurred after bankruptcy filing – Any debt you incur after filing your bankruptcy petition while your bankruptcy case is pending cannot be discharged. You continue to remain liable for them, even after your bankruptcy discharge. Secured loans [...]

2023-03-30T10:01:27+00:00
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Will You Have To Include Your Corporate Credit Card When Filing For Bankruptcy?

Call: 888-297-6203 One of the major reasons to file for bankruptcy is credit card debts and it is understandable if you don’t want your employer to know about it. It all depends on the type of account you have and the employer’s policies. Types of corporate credit card accounts- If it is for travel expenses or for buying supplies then it might be one of these An authorized user account An obligor account.  The type of account will help you to know whether or not you should keep using it and if you should list it on the [...]

2023-05-19T07:33:41+00:00
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Chapter 7 And Chapter 13

Call: 888-297-6203 When you plan to file for bankruptcy, there are two different types that you can file for. Though the result of both is the same, there are a lot of differences in both. Chapter 7 Filing for chapter 7 bankruptcy gives a permit to an individual to discharge their secured debts. Unsecured debts are mostly considered a consumer and household debts. Credit card debt, medical debt, auto loans, and mortgage debts are some debts that come into this category. Very limited debts are not covered under chapter 7 bankruptcy- Debts like student loans, child support, and [...]

2023-06-12T04:26:24+00:00
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Learn How One Can Proceed With A Bankruptcy Case?

Call: 888-297-6203 Bankruptcy comes with benefits and drawbacks. Benefits such as getting rid of the debts that you had, or keeping most of your assets that you might have lost in foreclosures. And one of the drawbacks is case filling will show in your credit report for up to 10 years. Common chapters of bankruptcy? Mostly, chapter 7 bankruptcy and chapter 13 bankruptcy are filled. In chapter 7 bankruptcy, you don’t have a repayment plan, all of your non-exempt properties are sold by your bankruptcy trustee and he/she will distribute it among your creditors. The assets which are [...]

2023-03-30T10:05:47+00:00
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What Do You Need To Pay For Filing A Chapter 7 Or 13 Bankruptcy?

Call: 888-297-6203 Though bankruptcy is meant to relieve you of financial problems, you need to pay a bankruptcy filing fee when you file for bankruptcy. This covers the cost associated with handling the case. However, if you have a low income, you can ask for a fee waiver. If you choose to amend your petition or convert your bankruptcy chapter, you might have to pay additional fees. Here is a look at the various fees you need to pay while filing for bankruptcy. Bankruptcy petition filing fees In your bankruptcy petition, you must inform about your income, assets, [...]

2023-03-30T11:51:51+00:00
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Steps To File An Emergency Bankruptcy Petition

Call: 888-297-6203 The documents required to file an Emergency Bankruptcy Petition with the Court Clerk. 1) Recheck and be sure if an Emergency Bankruptcy Filing is required The procedure of Emergency Bankruptcy Filing comes in handy only when you need immediate bankruptcy relief, and you don't have the time to go through the procedure and file a traditional bankruptcy. In a situation wherein without an automatic stay is in effect, stopping certain forms of collection on the outstanding debt may not be possible, this is the method you need to opt for. The situation may be foreclosure, vehicle [...]

2023-05-19T07:06:54+00:00
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How To Rebuild Your Credits After Bankruptcy

Call: 888-297-6203 The biggest doubt with people is, once I file for Bankruptcy, what after that? Will they ever have a good credit score again? Well, let me tell you, Yes. Though not immediately, with time, you can build your credit score again. 1) What is the importance of Credit? Clients who go through Chapter 7 Bankruptcy once, don't want to look at finance agreements or credit cards again. However, having good credit is always important. It is a skill one must keep working on. 2 years after completion of your Chapter 7 case, you will be eligible [...]

2023-03-30T10:09:48+00:00
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Lien-Free Personal Property In Bankruptcy

Call: 888-297-6203 Bankruptcy helps remove lien on your personal property. 1) High-Interest Lenders Lenders often ask their customers to list their personal properties like Television, Gaming systems, and computers while taking a loan. The loan document contains a grant for the lenders, a security interest in those items. The lender can then repossess these household properties if you fail to pay the loan. Most people don't hold the ability to fight in these situations financially. A common practice with the lender is threatening the customer with repossession. 2) Lien Stripping Powers of 11 USC 522(f) A provision in [...]

2023-05-19T07:04:21+00:00
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Elimination Of IRS Through Chapter 13

Call: 888-297-6203 Tax liens on a property are often filed by the IRS. This lien is extended to all the property in the country. It is good for 10 years and it applies to your house as well as your personal property. 1) Can the IRS Tax lien be avoided in total? Take an example where the market value of the house is $400,000 and the first mortgage balance is $350,000 and the second mortgage balance is $60,000. In such a situation, the IRS lien can be avoided completely. 2) After deducting senior liens, if there is still [...]

2023-05-19T07:09:17+00:00
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Things To Know About Chapter 7 Bankruptcy

Call: 888-297-6203 Chapter seven bankruptcy may seem very easy to some but very confusing to some too. These are some things you need to know about chapter 7 bankruptcy. 1) What is Chapter 7 Bankruptcy and how is it different from Chapter 13? A chapter 7 bankruptcy is nothing but a form to give a debtor and option to let go of all of their debts. It may include liquidation of their assets to pay them off. The major difference between the two is that: Chapter 13 sets a payment plan to pay the debts, while chapter 7 [...]

2023-04-19T13:32:25+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.