Credit and Bankruptcy

What Happens To Divorce-Related Debts In Bankruptcy?

Call: 888-297-6203 If you are going through financial troubles and have debts due to divorce, it is important to find out which of them can be discharged. Since the way debts are discharged in different bankruptcy chapters varies, it is important to determine how marital obligations will be discharged before choosing the bankruptcy chapter. On average, 50% of all marriages end in divorce. The financial impact of divorce, along with loss of employment, and medical debts, often leads to bankruptcy. However, unlike general unsecured debts, debts generated due to divorce proceedings are treated differently. While bankruptcy filing is [...]

2023-04-19T11:42:03+00:00
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Is Bankruptcy An Option For A Student Loan?

Call: 888-297-6203 Though difficult to discharge student loans, showing that the payment of debt will make it difficult for you and your family will help a lot. There are bankruptcy options for people with student loans. 1) Bruner Test The most common test used by courts to evaluate whether a particular student is facing undue hardship is Bruner Test. Though in recent times, the courts are looking for other options, by far the most used measure is the Bruner Test. This test requires : a) The debtor to show that neither they nor their family can survive the [...]

2023-04-19T11:53:45+00:00
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Can Bankruptcy Help Retrieve A Judgment Creditor’s Funds Levied From My Bank Account?

Call: 888-297-6203 A judgment creditor can cause funds from your checking account to be levied. However, timely action can reverse this. Usually, people come to know of having their checking accounts seized when they receive a notice from the bank. If you wish to recover this, you need to know the process that had taken place. In most cases, bank levies occur only after the creditors have obtained judgment for the money owed to them. However, most of these judgments are obtained by default, usually based on false claims of sending summons and complaints. Unfortunately, the debtors have [...]

2022-04-05T05:55:15+00:00
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Want To Go For Joint Bankruptcy Filing – Know These Facts!

Call: 888-297-6203 Before you plan to go for Joint Bankruptcy, know certain facts with their pros and cons so that it will help you decide whether it is a good option for you or not. 1) Want to know how Joint Bankruptcy works? As the name suggests, in a Joint Bankruptcy Filing, you and your spouse together have to file only one set of documents. These documents that you submit to the Bankruptcy Court should contain all the information and details about both your spouse and yourself, relating to Income, Expenses, Debt, and Assets. Filing for a Joint [...]

2022-04-05T05:04:25+00:00
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What All Documents You Will Need To File For Bankruptcy?

Call: 888-297-6203 Planning for consulting a bankruptcy attorney? First, gather and organize 10 documents that you will need. Income Proofs– Assemble income data, like, pay stubs from the last 2 months, your yearly social security aide grant letter, as well as profit and loss statement from any organizations you own or potentially work with. The court should know how much cash you are making and whether you are documenting the right chapter of bankruptcy. Bank statement- Collect bank statements from all the bank accounts under your name for the last 3 months as well if you have closed any [...]

2023-04-19T11:30:14+00:00
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The Distinction Between Chapter 7 And Chapter 13 Bankruptcy

Call: 888-297-6203 Confronting the harsh reality of not being able to repay your debt which you took in sound mind is troublesome. Your only possible solution to this may be filing for bankruptcy. By contacting a bankruptcy attorney, you can understand your next step is to file under chapter 7 or chapter 13. How to go about chapter 7 bankruptcy? A chapter 7 bankruptcy goes on for about 6 months or less. In that time you are asked to settle as much as debt as possible and emit the rest. Here, you are asked to settle your debts [...]

2023-04-19T11:21:42+00:00
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5 Techniques To Restore Your Credit Score After Bankruptcy

Call: 888-297-6203 Did you know, you can easily increase your FICO score even after going bankrupt? In fact, you can even go ahead and purchase a house in 2-3 years. Here are 5 techniques to rebuild your credit score after filing for bankruptcy. Think about using a secured credit card  Several major banks provide customers with secured credit cards to build or rebuild credit scores. In this type of credit card, you are required to deposit the funds in your account equal to your desired credit limit. These funds will be held by the bank as security for your [...]

2023-03-30T10:17:47+00:00
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The Fate Of Liens In Chapter 7 Bankruptcy

Call: 888-297-6203 When individuals buy a property such as a house or a car, they usually take out a loan. The lender requires the borrower to agree that non-payment of the debt allows the creditor to take the purchased property and sell it to recover the outstanding loan balance. This ownership interest in a property is called a lien. Usually, the outstanding price of the property is less than what is owed. As a result, the borrower remains responsible for the outstanding balance, also known as a deficiency. This deficiency balance can be wiped out in a Chapter [...]

2023-04-19T10:28:20+00:00
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How Does Your Bankruptcy Case Initiate?

Call: 888-297-6203 People often end up owing money to credit card companies, medical providers, student loan holders, or any other creditor. If you are behind payments, the creditors might sue you to collect what you owe them. Usually, the creditor or collection agency might file a formal petition against you in court for non-payment of dues. The collection agency or their lawyer is required to serve you with a copy of the complaint along with a summon, which notifies you that you are being sued for non-payment of dues. The summon also notifies you when you are required [...]

2023-04-19T10:27:36+00:00
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All You Must Understand About Priority Debts Under Chapter 7

Call: 888-297-6203 Priority debts are always given first preference when repaying the debts. These include Employee Wages, domestic support obligations, child support etc. these must be paid off before the non-priority debts like medical bills and credit card balances.  Disbursement of the funds by the trustee The onus lies with the trustee to use your assets to pay off our debts. But most debtors who file for bankruptcy under chapter 7 have no assets which the trustee can sell off to pay the creditor. So, with whatever money that is available, the trustee will review the funds and [...]

2023-04-19T10:20:09+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.