Bankruptcy Chapter 7

Differentiating Between Chapter 7 And Chapter 13 Bankruptcy

Call: 888-297-6203 Individuals struggling with debts have the option of filing for bankruptcy under Chapter 7 or chapter 13. To know more about bankruptcy discharge in Los Angeles and the difference between the two chapters, call 888-297-6203. Chapter 7 bankruptcy Also known as liquidation bankruptcy, Chapter 7 can be filed by individuals and business entities whose disposable income is less than the state's median income. Chapter 7 bankruptcy allows you to keep home equity through homestead exemption, insurance, ERISA-qualified retirement plans, personal property up to a specified dollar amount, and public benefits like social security and unemployment benefits. [...]

2023-04-14T08:44:27+00:00
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Chapter 7 Bankruptcy Overview

Call: 888-297-6203 Chapter 7 bankruptcy is usually preferred by people who cannot pay back the debts they owe. However, there are certain restrictions regarding who can file for this chapter of bankruptcy. Individuals whose gross income is lower than the state's median income can qualify for this bankruptcy chapter. There are other ways also for individuals to qualify for this chapter. Suppose your income is high, but paying monthly debts leaves you with an amount that cannot be used to repay the creditors through the Chapter 13 plan. Then you might qualify for Chapter 7. If you have [...]

2023-04-14T08:32:50+00:00
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Know The Difference Between Personal And Corporate Bankruptcy

Call: 888-297-6203 Bankruptcy can be the perfect way to get rid of personal and business debt and emerge with a clean financial slate. However, lawyers of Dallas based law firm say that personal and business bankruptcy have different chapters and rules. Personal bankruptcy Personal bankruptcy can be filed under chapter 7 or chapter 13. While chapter 7 is for people who have little to no income and cannot afford to pay back their debts, chapter 13 is for people with regular income. Such individuals repay their debt through a payment plan. Generally, individuals filing for chapter 7 bankruptcy [...]

2023-04-14T08:34:02+00:00
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Does Filing For Personal Bankruptcy Result In Closing My Business Too?

Call: 888-297-6203 According to lawyers of Dallas based law firm, when an individual files for chapter 7 bankruptcy, they might have to close their business down. However, if it is an LLC or a corporation, despite being personally liable for significant amount of debt, you might be able to keep it running. Here is what happens in different types of businesses during a bankruptcy filing: Sole proprietorship In this case, the trustee might ask for the business to be closed till an assessment of its value, exemption status and sale price of business assets in your bankruptcy estate [...]

2023-06-27T07:51:43+00:00
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Know More About Federal Non-Bankruptcy Exemptions

Call: 888-297-6203 Exemptions can help protect your property when you file for bankruptcy, say lawyers of Dallas based law firm. In the case of chapter 7, they determine what you can keep; while in chapter 13, they determine what you pay to the creditors through the repayment plan. Different states have different sets of exemptions that can be used by filers. Some states even allow bankruptcy filers the option of choosing between state and federal bankruptcy exemptions. In case you choose the state’s bankruptcy exemptions, you have the choice of getting another set of exemptions to protect additional [...]

2023-06-29T04:28:06+00:00
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Get To Know About Federal Bankruptcy Exemptions Here!

Call: 888-297-6203 When individuals file for bankruptcy, federal bankruptcy exemptions are available in certain states to protect the filer’s properties. Through these exemptions, you can protect some of your property including your home, car, certain other possessions like musical instruments, etc. in chapter 7 bankruptcy. In the case of chapter 13 bankruptcy, these exemptions determine what needs to be paid to creditors through the repayment plan. Every state has a set of exemptions that the bankruptcy filers can use, while 17 states allow debtors to choose between state and federal bankruptcy exemptions. These include Alaska, Arkansas, Connecticut, Columbia, [...]

2023-06-29T04:32:09+00:00
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Repayment Plan In Chapter 13 Bankruptcy

Call: 888-297-6203 The most important thing in a chapter 13 bankruptcy is the repayment plan through which creditors are paid over a period of 3-5 years. In chapter 13 bankruptcy, your disposable income is used to pay your creditors. The plan informs how much debt you will be paying to your creditors, how you will do that and the duration of the plan. According to Los Angeles based law firm the plan must be affordable for debtor and approved by court. The plan must focus on priority debts which need to be paid in full and then concentrate on [...]

2022-02-16T06:52:28+00:00
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Get Rid Of Your Debts By Hiring Personal Bankruptcy Lawyers In El Mirage, Arizona

Call: 888-297-6203 Having stress is expected if you are having constant quarrels with your spouse due to financial problems. The inability to pay your mortgage and other debts might result in loss of a home, car, or other property due to foreclosure or repossession. This can give you sleep deprived nights. To cope up with the stress of your liabilities you need the assistance of financial experts. Bankruptcy law firms in El Mirage, Arizona that specialize in debt consolidation and bankruptcy can come to your aid in this case. Researching local insolvency law firms is important Since you [...]

2023-04-11T10:15:59+00:00
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A Personal Bankruptcy Lawyer Can Help You Get Rid Of Your Debts In Bullhead City, Arizona

Call: 888-297-6203 Your family is your blessing and you would not want anything to happen to it. However, being short of cash can ruin this. Money problems can cause differences between you and your spouse, which can ruin the chances of your kid having a bright future as well as cause you to lose your home, car, or other property to repossession or foreclosure. Since any of this happening can cause you sleepless nights, it is vital that you find an expert to handle this situation. An experienced bankruptcy law firm in Bullhead City, Arizona can help resolve [...]

2023-04-11T10:14:25+00:00
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Hire Consumer Bankruptcy Lawyer In Prescott Valley, Arizona To Live Debt-Free

Call: 888-297-6203 Your family could be ruined because of monitory problems. Money troubles have torn apart several families and caused immense psychological damage to people. In case you have been getting harassing calls from creditors due to unpaid dues, are constantly at loggerheads with your spouse, and worried about losing your home car or property due to repossession or foreclosure, you need to consult specialists. Prescott Valley, Arizona has several bankruptcy lawyers who can help you get rid of your debts easily. Investigate bankruptcy law firms in Prescott Valley, Arizona before hiring them Many choices can confuse you, [...]

2023-04-11T10:10:45+00:00
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We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.