Advantages Of Filing Chapter 13 Bankruptcy

Bankruptcy is a lawful process where individuals and businesses may reduce as well as rearrange their loan. Before you are planning to submit an application for bankruptcy, you have to select which type of bankruptcy you have to sign up for your problem. There are many sections accessible under the bankruptcy code. Each and every chapter has its own set of rules and also codes. If you are caught under outstanding debts and fighting to keep the home and / or car, filling for chapter 13 bankruptcy can help you to save your home from Read More …

A Few Commonly Asked Questions on Post Bankruptcy Course

If you are filing for bankruptcy, you must be aware of both the mandatory pre and post bankruptcy courses. These courses need to be done through an approved organization. You can go for online or even telephonic courses. Here is a quick list of frequently asked questions about pre and post bankruptcy courses. FAQs About Pre & Post Bankruptcy Courses:   1. Do I need to take the pre-filing bankruptcy course or the post-filing one? Both these courses are mandatory. According to the Bankruptcy Code, you have to complete credit counseling before filing your bankruptcy papers, and Read More …

Do I Need An Attorney To File For Bankruptcy?

Every year thousands of people find themselves in financial difficulties and they are forced to declare bankruptcy. However as recourse many find themselves too broke to even file for this and thus are left with no means of going forward. Fortunately the law has provided a means in which a person can file for bankruptcy on their own. this means that individuals who are under strenuous financial stress can simply apply and be granted bankruptcy without attracting other added fees. Pro Se Litigants The law provides for individuals who want to represent themselves during bankruptcy Read More …

The 6 Types of Bankruptcy Chapters and What they Mean

Most people are only aware of the Chapter 7 and 13 Bankruptcy Chapters. According to the Bankruptcy Code of the United States however, there are six chapters in all, found at Title 11. By being aware of them all, you will be at a much better position to decide which chapter best applies to the situation. Chapter 7 Chapter 7 bankruptcy is the most basic type and the one commonly taken by many individuals. In a Chapter 7 filing, all the unsecured assets are sold off and the proceeds are used to pay off the Read More …

How to Start A new: 7 Steps for Claiming Bankruptcy

Claiming bankruptcy can be both a blessing and a curse. This forces people to start over financially, meaning that they would have to start saving again, acquiring assets and working to be financially secure. At the same time however, it gives them the chance to unburden themselves of all the financial liabilities that followed them throughout their life. 1. Know the Extent of Bankruptcy Filing for bankruptcy has some heavy consequences that individuals should be aware of. Once a person goes through with the process, their non-exempt assets will be liquidated to pay off outstanding Read More …