chapter 7 bankruptcy

How Can You Redeem Your Secured Property Under Chapter 7 Bankruptcy?

Call: 888-297-6203 Redemption is paying back your creditor the actual value of the property in full. This way you get to keep your property without having to surrender it. You should go for redemption if you owe your creditor more loan than the actual value of the property. Explaining the court what you will do with the Collateral Property When you file for bankruptcy under chapter 7, you have to mention in your bankruptcy form your intent on dealing with your collateral property. Whenever you purchase an asset or property, the creditor takes a lien on your property, [...]

2023-04-19T11:13:37+00:00
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Misconceptions That People Commonly Have About Bankruptcy

Call: 888-297-6203 Filing for bankruptcy is not easy, most importantly due to the commonly held fears that people hear and believe in. it is nothing to be embarrassed about or be scared of. Listed below are a few common misbelieve that people have- People Judge you – NO one has soo much time to sit and judge you, so you needn’t be embarrassed. The attorney and judge are busy doing their work and no is going to judge you on thoughts like you are filing to dodge debts or that you have bad financial skills. Bankruptcy can happen [...]

2023-04-19T10:18:30+00:00
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What Can Bankruptcy Help You With?

Call: 888-297-6203 You can get rid of your financial problems by filing for bankruptcy. It can help you eliminate some debts while others survive bankruptcy filing and discharge. However, all your obligations cannot be removed through bankruptcy. For example, student loans, alimony, child support, and tax debts survive bankruptcy. Things you can expect from the bankruptcy Bankruptcy is meant to provide you with a fresh financial start. Irrespective of which chapter of bankruptcy you file (Chapter 7 or Chapter 13), there are some things that bankruptcy can help you with. These include: It stops collection activities and creditor [...]

2023-04-19T09:51:01+00:00
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Understanding Automatic Stay In Bankruptcy

Call: 888-297-6203 An injunction known as automatic stay is enforced when you file for bankruptcy. This prevents creditors from taking any sort of collection action against you. Usually, the automatic stay starts immediately after filing for a Chapter 7 bankruptcy petition. As a result of the automatic stay, lawsuit filing, telephone harassment, wage garnishment, etc., cannot occur. What does automatic stay help you with? The automatic stay prevents all sorts of collection lawsuits, creditor harassment, and collection actions. It remains in place till your chapter 7 bankruptcy case lasts. The automatic stay can temporarily or permanently stop the [...]

2023-04-19T10:03:06+00:00
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7 Steps That You Must Follow While Filing For Bankruptcy In Ohio

Call: 888-297-6203 This article will guide you on the basic 7 steps that will be included when you file for bankruptcy. It is in short an overview of the timeline that you will be following from the time you decide to file for bankruptcy. Step #1 – You must Hire an Understanding as well as an experienced attorney – This will most importantly help you in the process of filing for bankruptcy, as an experienced attorney knows how to go about things without wasting your time that too with precision. Step #2 – Keep all data handly and [...]

2023-04-19T09:46:28+00:00
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How Chapter 7 Can Help Small Business Owners

Call: 888-297-6203 A small business owner or a sole proprietor struggling with finances can get rid of their debts by filing for Chapter 7 bankruptcy. This chapter can help you close the business easily. However, it is not suitable for partnerships, LLC, or corporations as the business will not receive a debt discharge. Moreover, filing for bankruptcy can increase liabilities like lawsuits. You can understand more about bankruptcy by calling 888-297-6203 to consult with experienced bankruptcy lawyers in Los Angeles. Business debts and personal liabilities A personal guarantee makes you liable for any business debt if the business [...]

2023-04-19T10:10:43+00:00
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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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If I File For Bankruptcy Under Chapter 7, Will I Lose My Home?

Call: 888-297-6203 There are fewer chances of you losing your home if you file for bankruptcy under chapter 7 if you do not have a lot of equity on your home. Below mentioned are certain factors, based on which it can be decided whether you can keep your home or not- You are paying your mortgage payments on time Probability of repaying the mortgage amount post-bankruptcy The percentage of equity that you can protect using homestead exemptions The value of equity in your home that you own. In case, you have not paid your dues on time, have [...]

2023-04-14T08:59:25+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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An Overview of Chapter 13 Bankruptcy

Call: 888-297-6203 If you are looking for a way to get rid of your financial debts, you can opt to file for bankruptcy. Chapter 7 bankruptcy allows you to wipe out all your qualifying dates in 4 to 6 months without repaying your creditors. However, this chapter is available to people with very little disposable income. People who earn a significant income and wish to protect their valuable property can file for bankruptcy under chapter 13. In this case, their disposable income is used to pay their creditors throughout a 3- to 5-year repayment plan. Chapter 13 bankruptcy [...]

2023-04-14T08:46:49+00:00
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