Bankruptcy Chapter 7

How To Deal With A Student Loan If You File For Bankruptcy

Call: 888-297-6203 A student loan is a debt that does not come off very easily. Until and unless you have valid justification and proof that paying your student loan is causing undue hardship on you, it is next to impossible to get rid of it.  Be it Chapter 7 or chapter 13, it is quite difficult to get exemptions from your student loan even if you file for bankruptcy. The exception under Under hardship The definition of undue hardship mostly depends from court to court. If you wish to get your Student loan waived off, you must prove [...]

2023-05-19T06:53:57+00:00
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Impact Of Employment Status On Bankruptcy

Call: 888-297-6203 Financial issues can arise with anyone, anytime. The federal bankruptcy law can help you provide financial relief through a bankruptcy filing. Individual bankruptcy filers have the option of choosing between Chapter 7 and Chapter 13. However, there are some differences in the way debts are handled in these two chapters. Workings of Chapter 7 bankruptcy Chapter 7 is known as liquidation bankruptcy primarily because the bankruptcy trustee liquidates your non-exempt property (that cannot be protected using exemption laws) to pay your unsecured creditors. This chapter is meant to help unemployed people or people with low-income to [...]

2023-04-19T10:05:03+00:00
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How To Reaffirm Secured Debt In Chapter 7 Bankruptcy?

Call: 888-297-6203 While getting rid of your debts through bankruptcy, you might want to keep some loans. This happens when you wish to keep the associated property (car or home) with you. You need to reaffirm the loan for this to occur. This means that you agree to be responsible for the debt as you wish to keep the collateral associated with it. The reaffirmation agreement is a new contract submitted to the bankruptcy court. However, you need to be current on your debt for this to occur. Apart from this, you must be able to protect all [...]

2023-04-14T08:48:58+00:00
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Want To Reapply For Bankruptcy Again?

Call: 888-297-6203 If you have already filed for bankruptcy once, it is possible to reapply for bankruptcy again. However, there are time limitations for getting rid of debts after you receive a discharge under either chapter 7 or 13 bankruptcy. Time Limitation to apply for Discharges There is no time limit for filing for bankruptcy a second time. However, if you do so within a very short period of time, you will not be eligible to get a discharge – forgiveness from a debt. Also filing for bankruptcy will end up being a waste of time and money. [...]

2023-04-19T09:36:42+00:00
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Filling Bankruptcy Forms

Call: 888-297-6203 If you are filing for bankruptcy, you need to understand that there is much official paperwork involved. However, everything is quite straightforward, and you can easily fill the forms with the instructions provided. Unfortunately, these forms do not explain what happens in your case. To know whether you will protect your property by discharging your debts, you need to talk with a bankruptcy lawyer. To know more about bankruptcy discharge in Los Angeles, call 888-297-6203. Filing the Bankruptcy Forms Different bankruptcy forms provide various kinds of information relevant to your bankruptcy case. These include: Information regarding [...]

2023-04-14T08:54:55+00:00
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What Do You Mean By A Bankruptcy Discharge?

Call: 888-297-6203 For individual debtors, the most important part of the Chapter 13 bankruptcy case is the bankruptcy discharge – an order that eliminates and makes you free from all previous dues and debts that you owed – credit cards, utility bills as well as medical bills. Once you get the discharge, no creditors can harass or trouble you for any outstanding dues or debts, neither can they file a lawsuit against you for non-payment nor can they take any other course of action to collect the debt amount. When should you expect the discharge? If all your [...]

2023-06-01T13:37:45+00:00
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What Is A Bankruptcy Discharge?

Call: 888-297-6203 Most people who have filed for bankruptcy are looking forward to the order that wipes out their qualifying debts such as utility bills, credit card balances, personal loans, and medical debt. This order, known as bankruptcy discharge, specifies that you are no longer responsible for the discharged debts. As a result of this order, the creditor can no longer pursue you for non-repayment of debt, report you to credit reporting agencies, or file a lawsuit against you. In order to get a bankruptcy discharge, you need to officially file the petition provide the court with accurate [...]

2023-04-14T08:47:39+00:00
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Is Bankruptcy Filing Possible If I Have Equity In My Home?

Call: 888-297-6203 Bankruptcy filing is possible even if you have equity in your house. However, if you cannot protect it through exemption, you might end up losing it. There are various factors that determine what will happen to the equity. These include the bankruptcy chapter, the duration of ownership, and the state of federal exemption you are using. Both Chapter 7 and chapter 13 allow you to exempt certain equity in your home. However, the non-exempt equity is treated differently in both these chapters. In Chapter 7 bankruptcy, any non-exempt property is handed over to the bankruptcy trustee [...]

2023-04-14T09:01:48+00:00
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Is Bankruptcy Filing Possible Even If I Can’t Leave The House Due To Coronavirus?

Call: 888-297-6203 Desperate times require desperate measures. Considering that the COVID-19 pandemic has made it difficult for people to step out, the rules for filing for bankruptcy have also been amended. Thanks to the temporarily changing of rules, many courts now allow bankruptcy lawyers to represent their quarantined clients. So, the primary step to getting a bankruptcy discharge is hiring an adequate bankruptcy lawyer. Since you cannot step out to look for one, you can ask your friends, neighbors, or family members for references. You can also find a lawyer using the online directory or through the State [...]

2022-03-22T06:09:20+00:00
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Effect Of Bankruptcy On Your Credit

Call: 888-297-6203 People contemplating bankruptcy filing are often worried about how it will affect their credit score. However, if your credit is already underwater, bankruptcy would not significantly affect it. In fact, it may help you improve it in the long run. People with good credit scores might see a huge drop in the same after filing for bankruptcy. Though the bankruptcy chapter does not make much difference in your credit score, some creditors might consider you a better credit risk if you filed for bankruptcy under chapter 13. This is because you repaid some of your debts [...]

2023-03-30T10:20:12+00:00
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