After Bankruptcy

Basics Of Chapter 13 Bankruptcy

Call: 888-297-6203 Also known as the wage earner’s plan, chapter 13 is ideal for people with a regular income. These debtors can repay their debts through a repayment plan where their creditors are paid through regular monthly installments over three to five years. The duration of the plan depends on the debtor’s current monthly income. If it is more than the state median, the plan is for five years, else it concludes in three years. There are several advantages of opting for chapter 13. Since it allows you to catch up on past due payments, you can prevent [...]

2023-03-22T08:43:36+00:00
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Are You Considering Bankruptcy?

Call: 888-297-6203 Debtors file for bankruptcy when they have excessive debt and want a fresh financial start, but whether filing is the best option for you, depends on many factors. Is bankruptcy the best choice? Bankruptcy filing impacts your credit report for a long time, so it's better if you try to solve your debts without filing for bankruptcy. Which chapter is better? Chapter 7 liquidation is best for those who can save their assets from liquidation by exemptions and have income low enough that they qualify for chapter 7 bankruptcy filing.  In contrast, chapter 13 bankruptcy, works [...]

2023-06-27T07:27:13+00:00
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All You Need To Know About The Chapter 7 Bankruptcy Procedure

Call: 888-297-6203 Chapter 7 bankruptcy procedure is a commonly used bankruptcy chapter amongst the US residents. As per stats, over 70% of bankruptcy is applied through Chapter 7. Even though it is popular and used in the majority of the United States, it is not necessarily the best option available for you. To make a wise decision about whether Chapter 7 is appropriate for your situation, we list below everything you need to know about the Chapter 7 bankruptcy procedure- What kind of debts are discharged? Most of the debts that do not have a backing or a [...]

2023-06-05T13:36:13+00:00
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Basics Of Chapter 7 Bankruptcy

Call: 888-297-6203 Bankruptcy filers often are confused regarding which bankruptcy chapter is the best. While chapter 7 offers to get rid of all possible debts without paying for anything, other options are available. Businesses (sole proprietorship, corporations, or partnerships) who wish to stay operational and avoid liquidation can file under bankruptcy Chapter 11. Sole proprietors also have the option of filing under chapter 13 bankruptcy. Chapter 13 bankruptcy allows individuals and sole proprietors to protect their property from foreclosure by catching up on past due payments through the repayment plan. You can also keep any non-exempt property if [...]

2023-05-05T07:06:06+00:00
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All That You Need To Know About Bankruptcy And Timeshare

Call: 888-297-6203 Timeshares are properties held commonly by multiple Individuals, each of who can use the property for a particular time in the year jointly. Common examples of timeshares are holiday homes or condominiums in a large resort. Whether you can protect your timeshare while you file for bankruptcy mostly depends on the state you file in as well as the bankruptcy chapter you file under. Depending on the worthiness of the timeshare you hold, you can either surrender or use exemption for the same. If you are looking to surrender it, you will need to continue paying [...]

2023-06-05T13:12:35+00:00
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Bankruptcy And Business Arrangements

Call: 888-297-6203 The pandemic era has brought a lot of businesses under the weather. This has led to many small businesses moving towards bankruptcy. As per several research magazines, it was predicted that almost 33% of small businesses in the United States ended up halting their operations permanently or with an uncertain future. Loan forgiveness grants from the government probably protected the 66% of other small business units that were also on the brink of shutting down probably. Factors to consider while thinking of bankruptcy The factors associated with businesses are far more complex and intriguing. Expert guidance [...]

2023-05-19T06:24:15+00:00
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Eligibility Tests And Other Aspects While Considering Bankruptcy

Call: 888-297-6203 Misuse of Bankruptcy laws is something that was commonly seen in the 1990s and early 2000s which led to a series of changes in the Bankruptcy laws. Many individuals who had substantial assets also started declaring bankruptcy and ended up dissolving their debts effortlessly. To ensure the borrower truly needs a bankruptcy claim, there are the following tests that he/she can consider before filing for bankruptcy- Means test A means test is basically verifying if your income is lower than the median income of your state. Every state in the US based on various factors like [...]

2023-06-05T13:34:42+00:00
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Federal Rules Followed In A Bankruptcy Procedure

Call: 888-297-6203 When an individual files for bankruptcy, he gets the benefit to discharge most of his debts. Alternatively, if they file under chapter 7, they can discharge their debts by repaying the creditors equally by selling the assets. This way, if the full due value is not paid back also, at least the creditors get their dues equally. Under certain bankruptcy proceedings, the court asks the debtor to continue his business and generate revenue to pay off their debts. Alternatively, the debtor can completely free themselves of any debts by selling off their assets and using the [...]

2023-05-19T06:27:33+00:00
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How To Deal With Your Property In Bankruptcy Exemption?

Call: 888-297-6203 When an individual files for bankruptcy under chapter 7 or chapter 13, they are expected to either pay for all the non-exempt property under the repayment plan or sell them to pay the creditors under chapter 7. However, bankruptcy exemptions help you to protect your non-exempt properties from creditors. Bankruptcy Estate and the Trustee’s Role Once a debtor files for bankruptcy, the total assets and liabilities are calculated to determine the debtors' Bankruptcy estate at the time of filing. The trustee is therefore liable to pay off the creditors the money due as per the value [...]

2023-06-05T12:57:59+00:00
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All You Need To Know About Chapter 7 Bankruptcy Means Test

Call: 888-297-6203 When there is unmanageable debt and you don't see a secured financial future of yours then unwilling you have to file for Bankruptcy. Chapter 7 bankruptcy in most cases is the best aid to a debtor. Here almost all the debts are cleared but the court doesn't just let anyone file for chapter 7 liquidation bankruptcy. To separate those debtors who can repay some of their debts, the US bankruptcy code has a 'means test' to see who qualifies for chapter 7 bankruptcy and who doesn't. The means test compares the last 6 months of income [...]

2023-04-21T12:25:46+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.