Standing up and taking action against your debt is a big decision. Before you commit to a plan of action, you need to make sure you have all the information you need.
To help you out, we provide a host of free resources that cover the basics of filing Chapter 7 bankruptcy. Here, you can learn [...]
Two important facts to know about filing Chapter 7 bankruptcy and protecting your home are:
The bankruptcy laws in every state provide specific protections for homes
The automatic stay instantly puts a stop to foreclosure
There is a misconception that filing Chapter 7 bankruptcy means you have to give up your home, car, beloved possessions and the things [...]
While Chapter 7 bankruptcy is protected and overseen by federal courts, each state has their own way of doing business. And if you need debt relief and protection, you should know that not all state bankruptcy laws are created equal.
Chapter 7 is most effective at wiping out debt related to credit cards, medical bills and [...]
Even after receiving a Chapter 7 discharge, there’s still one more step.
You must complete an approved Debtor Education Course, which is a personal financial management course required by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
Your Chapter 7 bankruptcy lawyer will be able to refer you to an approved financial management class or [...]
After first completing your credit counseling session and providing all appropriate records and financial information, your Chapter 7 bankruptcy attorney will assess your situation and draft a bankruptcy petition.
Your personal financial information, including all of your income, assets, expenses and debts will be required on your bankruptcy petition and on any related forms and schedules.
You [...]
Federal law requires that you receive a Credit Counseling Briefing from a certified credit counseling agency prior to beginning action on a Chapter 7 bankruptcy petition.
This briefing includes a section on financial management and how to create a personal budget and will also discuss alternatives to Chapter 7 bankruptcy.
Although there are some hardship exceptions to [...]
The Chapter 7 Bankruptcy Means Test
Qualification for Chapter 7 bankruptcy is the first step to filing this type of bankruptcy.
In order to figure out if you qualify to file Chapter 7 bankruptcy, you must go through the steps of the Chapter 7 means test.
If you remember the media hype about the Chapter 7 bankruptcy means [...]
In most bankruptcy cases, you can protect your car using allowable bankruptcy code exemptions.
While Chapter 7 bankruptcy is mainly designed to address debt related to credit cards and medical bills, Chapter 7 exemptions outline specific protections for things like cars, home furnishings and family keepsakes.
Exemption allows you to file for Chapter 7 bankruptcy relief while [...]
Eliminate Debt & Move Forward
In Chapter 7 bankruptcy cases, “discharge” can be referred to:
The discharge (forgiveness) of debts like credit card and medical bills
The discharge (exit) from bankruptcy protection
To find out what a Chapter 7 discharge could mean for you, fill out the below form to be connected with a bankruptcy lawyer.
Be sure to also [...]
For Americans struggling with debt, filing Chapter 7 bankruptcy can be the first step toward real financial relief. But figuring out the intricacies of Chapter 7 bankruptcy law can seem almost as overwhelming as dealing with the bills each month.
A bankruptcy lawyer can break down the jargon and help you understand the bankruptcy process. We [...]