file for chapter 13 bankruptcy

Eligibility For Chapter 7 Bankruptcy Filing

It is an imperative process to understand at first whether as individuals we can file for Chapter 7 bankruptcy and get our debts discharged or not. The ability to file for bankruptcy under Chapter 7 clauses majorly depend on your household income (drawn monthly at the time of filing). The monthly income includes The average gross income (prior to taxes deduction) that you have drawn in the last six months The gross income of your spouse All contributions to household expenses by other members of the family The monthly income excludes the amount arising out of Unemployment Social [...]


Know More About Chapter 13 Bankruptcy Exemptions

Bad financial decisions can cause a change of fate. This can happen to anyone, anytime. Filing for bankruptcy offers a way to salvage not just your property but also allows you to get a fresh start. Bankruptcy can be filed by an individual or company under various chapters. Chapter 13 or wage earner’s bankruptcy is for people with a steady source of income. Like other chapters, exemptions are available under chapter 13 reimbursement proposal. They are also helpful in calculating the amount that the debtor will pay. Under chapter 13 bankruptcy, one can keep all their property, but [...]