Many people who file for bankruptcy must do so urgently to prevent a significant loss, such as avoiding being evicted from their homes. If you can afford to wait, though, here are two tips for timing your bankruptcy to maximize your chances of discharging debt while minimizing problems. Wait for Your Income and Expenses to Normalize Your income and expenses will play a big part in your bankruptcy filing. In a chapter 7, the information is used to determine whether you'll pass the means test, while in a chapter 13, it's used to figure out how much your monthly payments will be.
18 June 2021
In a recent year, more than a half-million people filed for bankruptcy. If this is where you are headed as well, it is important to recognize that this is a pit stop and not the end of your financial life. However, if you are hoping to bounce back, you have to handle this entire process with care and deliberateness. A bankruptcy lawyer will also be useful in acting as your advocate as you put the court filing together.
4 May 2021
If you want to file for bankruptcy, it's essential you work with a bankruptcy attorney. Apart from advising you, an attorney will help you navigate the legal process of filing for bankruptcy. Here are some frequently asked questions about Chapter 7 bankruptcy. What Are the Alternatives to Chapter 7 Bankruptcy? Before filing for a Chapter 7 bankruptcy, you must familiarize yourself with the available alternatives. This will help you make an informed decision.
31 March 2021
Chapter 7 bankruptcy is a program in place to help those that are in financial debt, and have not way out of it, to find financial freedom. Chapter 7 bankruptcy allows you to file bankruptcy and be forgiven on your debts so you have a clean slate to start over. Bankruptcy should only ever be a last and final way out of debt. If you are in a financial crisis and don't see a way out, bankruptcy may be the answer you're looking for.
25 March 2021
Part of using Chapter 13 bankruptcy is that you will be given a repayment plan, where many debts are not completely discharged and you only pay back a portion of what you owe. However, you're likely wondering what will happen if you are unable to pay back the payment plan that was ordered by the bankruptcy court. Here is what you can expect if you suffer another financial hardship. You Must Seek A Hardship Discharge
9 February 2021