3 Useful Tips When Thinking About Filing For Chapter 13 Bankruptcy

If you have gotten yourself into debt, sometimes the only way to respond is to file for bankruptcy. Chapter 13 bankruptcy is ideal for those with regular income who can afford a re-payment plan. If you're considering this option, be sure to utilize these tips.  Take Time With Paperwork Filing Chapter 13 bankruptcy is not going to happen overnight. It is quite a long process, in fact, given all of the paperwork involved. [Read More]

When You Want to Hold Onto Certain Debts

The whole idea of chapter 7 bankruptcy is to leave as much debt as possible behind. There are some cases, however, in which you might want to reconsider and carry debt forward. Read on to find out why you would agree to keep the debt and how to do so. Secured Debts and Reaffirmations Your bankruptcy debt is divided into secured and unsecured. Secured debt is anchored by the property itself. [Read More]

Advantages Of Chapter 13 Bankruptcy Vs. Chapter 7

There are a lot of people who instantly think Chapter 7 bankruptcy is better than Chapter 13, but this is not really the case. Chapter 13 offers some key advantages that are not available through Chapter 7, and here are the top ones. It Offers Debt-Relief to People Who Make Too Much Money You might not realize that there are income guidelines that you must meet in order to file for Chapter 7, and this often disqualifies people from using this branch of bankruptcy. [Read More]

What To Know About Your Bankruptcy Trustee

Declaring bankruptcy is a big step, but knowing what to expect can help ease the stress and confusion of the situation. Once you file, you will be assigned a bankruptcy trustee, who will be managing your bankruptcy case from now until its final petition. While you should still count on your bankruptcy attorney to lend you support during the months that it takes a bankruptcy to go through court, yourbankruptcy trustee also fills an important role. [Read More]