The Types Of Bankruptcies You Could Settle For

Generally there are 2 types of bankruptcies that are made available to consumers, which are the chapter 7 and chapter 13. Let us now take a closer look at each of them, and the specific requirements for filing them. Chapter 7 Also known as straight insolvency, this is the most common kind that is permissible to be filed by the law, by both consumers and businesses alike. To file for this type of foreclosure , your current income needs to be at least at the same level as the median amount set in your given Read More …

Bankruptcy Pre Discharge Course: How to Re-establish Your Financial Well

Introduction Bankruptcy Pre Discharge Course is a requirement before any bankruptcy case can be discharged. It is a requirement that was set forth in bankruptcy reform law. Online courses are available 24 hours a day and seven days a week. Upon completion of the program, you will earn a certificate that meets the Bankruptcy Pre-Discharge education requirement as far as the Justice Department is concerned. The average cost for the bankruptcy course is about $50 per household. Bankruptcy Pre Discharge Course aims to provide individuals who are recovering from bankruptcy the necessary skills to manage Read More …

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 …

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 …

2 Requirements for Online Bankruptcy Filing and Rejection Factors

Bankruptcy Pre Discharge Course Thanks to the internet, filing for bankruptcy is not only easier but faster as well. You have the chance to obtain all the information you need, complete your documents and pass them to the proper agency right in your own home through online bankruptcy filing. Even with this accessibility and convenience, however, it’s important to note that not everyone can file for bankruptcy. You need to meet specific criteria set by the government in order to apply for a Chapter 7 or 13. That being said, the following are the different Read More …