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Frequently Asked Questions about Bankruptcy
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Frequently Asked Questions about Bankruptcy

Bankruptcy Q&A

Frequently Asked Questions about Bankruptcy

Many people who are facing grave financial issues, often have doubts about bankruptcy. It is therefore important to clear all your doubts related to it. Here are some FAQs about bankruptcy: What is Personal Bankruptcy? Personal bankruptcy offers 2 options mostly for individuals and couples; under Chapter 7 and Chapter 13. Both cases are designed to help people who are unable to pay their debts and get a fresh start. However, both options operate differently and are suitable for people with varying economic needs. What is The Difference between Chapter 7 and Chapter 13 Bankruptcy? Chapter 7 bankruptcy [...]

admin2023-06-27T05:04:30+00:00

The Creditors Meeting – All That You Need To Know!
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The Creditors Meeting – All That You Need To Know!

Credit Tips

The Creditors Meeting – All That You Need To Know!

The creditors meeting or the 341 hearing indicates the commencement of the case. This is mandated by the United States Bankruptcy Court for the specific states and is scheduled 30 days after the bankruptcy filing. The date and the time for this meeting of creditors along with the debtor is notified within a couple of weeks of filing. Here’s how you need to plan for the meeting as a debtor – The meeting generally happens over a span of 2-3 hours. Also, take into account the travel time needed to reach the court There is no imperative dress code needed to bead hered to or to dress up fancily Getting through the [...]

admin2019-05-10T13:31:10+00:00

Reducing Your Car Debt – Chapter 13 Bankruptcy
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Reducing Your Car Debt – Chapter 13 Bankruptcy

Car Loans / Title Loans

Reducing Your Car Debt – Chapter 13 Bankruptcy

Have did you buy your car using finance options over the last two and a half years ago? Then if you are struggling with paying back the car loan, the Chapter 13 bankruptcy in most cases help you reduce the rate of interest on the car loan or reduce the total balance of it. Let’s understand further with a scenario – if your car loan balance is $20,000 at the end of three years and if the value of your car is just $10,000, then the remaining $10,000 converts as an unsecured debt (since the car doesn’t secure this). A percentage of this unsecured [...]

admin2019-05-10T13:29:10+00:00

More About Emergency Bankruptcy Filing
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More About Emergency Bankruptcy Filing

Bankruptcy

More About Emergency Bankruptcy Filing

The process of filing for bankruptcy usually involves the filling of various forms along with your bankruptcy petition – these forms are mandated by the court. Along with the forms, the debtor needs to gather all supporting information or documentation. This can take up a lot of his time. In cases, where the debtor is really stuck with a crisis situation like the foreclosure of a home or a wage garnishment, then he can file an emergency bankruptcy by filling a few of the needed forms to get the process started. Why an emergency bankruptcy? As soon as you file [...]

admin2019-05-10T13:31:29+00:00

Being Prepared For Your Meeting of Creditors
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Being Prepared For Your Meeting of Creditors

Bankruptcy, Credit and Bankruptcy, Credit Tips

Being Prepared For Your Meeting of Creditors

The meeting of creditors or a 341 hearing is a mandatory process conducted by the bankruptcy trustee when there is a filing of bankruptcy. During a filing of bankruptcy, the petitioner provides several documentations related to the situation including the petition and schedules. In the hearing process, the trustee gets the opportunity to ask the petitioner questions regarding the furnished information. The answers to these questions have to be answered under oath. If you are an individual who has filed bankruptcy, it is imperative that you have to be part of this meeting of creditors. Needless to say, [...]

admin2023-03-07T10:40:47+00:00

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Frequently Asked Questions about Bankruptcy

Frequently Asked Questions about Bankruptcy

The Creditors Meeting – All That You Need To Know!

The Creditors Meeting – All That You Need To Know!

Reducing Your Car Debt – Chapter 13 Bankruptcy

Reducing Your Car Debt – Chapter 13 Bankruptcy

More About Emergency Bankruptcy Filing

More About Emergency Bankruptcy Filing

Being Prepared For Your Meeting of Creditors

Being Prepared For Your Meeting of Creditors

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