Chapter 7 Bankruptcy

Who Is A Bankruptcy Trustee?

Call: 888-297-6203 Whether it be a chapter 7 bankruptcy case or chapter 13 bankruptcy case, there will be a bankruptcy trustee appointed to your case, who will have various rules and obligations. He or she will oversee your entire case and help the court make a judgment. The bankruptcy estate and the bankruptcy trustee To understand what a bankruptcy trustee does, you will first have to know what bankruptcy estate is. It is created after a debtor files for bankruptcy and it consists of all the debtor’s non-exempt properties. It has its separate role in the case. A bankruptcy [...]

2023-06-15T06:48:03+00:00
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Personal Bankruptcy

Call: 888-297-6203 Let us know how declaring bankruptcy might solve your problems. Personal bankruptcy aims at providing individuals with a fresh financial start. Collection Activity is stopped by Personal Bankruptcy Once a Bankruptcy is filed, an automatic stay is an order that is issued by the court. This order prohibits creditors from contacting you, it can stop your house from being sold at an auction, or an employer from deducting your wages and so far. It will also stop all lawsuits at the moment. Even though it may be temporary, like in a situation where a lender asks [...]

2023-05-29T12:37:44+00:00
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FAQs Of Chapter 7

Call: 888-297-6203 1) Chapter 7 Bankruptcy Chapter 7 bankruptcy is a legal process of eliminating your debts and obtaining a fresh start. Though most of the debts can be eliminated by chapter 7, there are some exceptions like student loans and certain taxes which cannot be eliminated. 2) Time is taken for Chapter 7 An average-case in Chapter 7 takes about 3 months from filing. The time taken to file for chapter 7 is normally 3 business days or it can be even lesser. It depends on how fast you submit your documents and complete your online credit [...]

2023-05-19T07:29:12+00:00
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Stripping Off Mortgage Lien In Chapter 13 Bankruptcy

Call: 888-297-6203 If you are struggling with debt, you often take out multiple mortgages on your home. However, if your home is underwater and you file for Chapter 13 bankruptcy, you can get rid of junior mortgages. This can be done by lien stripping. The primary mortgage is a secured debt, while all secondary and subsequent mortgages are treated as unsecured debt. When you file for chapter 13 bankruptcy, you must pay your debts through a repayment plan. The priority of debts is secured debts, unsecured priority debts (alimony, child support, unpaid taxes), followed by unsecured debts (credit [...]

2023-05-29T12:39:39+00:00
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The Basic Steps That You Need To Follow To File For Bankruptcy

Call: 888-297-6203 There is a general process for filing for bankruptcy. It includes – Gathering paperwork and bankruptcy form Filing for bankruptcy petition Meeting with your bankruptcy trustee Dischargeable debts are discharged. When filing there are 2 commonly filed chapters, chapter 7 and chapter 13. Step 1- an acknowledgment of all the consumer bankruptcy chapters that can be filed. If you need more time to repay your debt then you should go for chapter 13 and make a repayment plan. If you want all dischargeable debts to be discharged and give you a new life then you should [...]

2023-05-29T13:16:07+00:00
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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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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.