Bankruptcy Attorney | Bankruptcy v. Doing Nothing Bankruptcy Attorney . If you are struggling with debt, bankruptcy may seem like a good way to get back on your feet. But not everyone who is struggling needs to file bankruptcy right away. There may be times when doing nothing (at least for now) is the best [...]
Bankruptcy Calculator | Consumer v. Non-consumer Debts Bankruptcy Calculator . It's not always easy to determine if a debt is consumer or non-consumer for purposes of the Chapter 7 means test (bankruptcy calculator). If you classify most of your debts as business debts, the bankruptcy trustee and court will review these debts carefully. Why the [...]
Bankruptcy Calculator | What is Bankruptcy? Bankruptcy Calculator . This article will explain the basics of both Chapter 7 and Chapter 13 bankruptcy Bankruptcy is a generalized term for a federal court procedure that helps consumers and businesses get rid of their debts and repay their creditors. If you can prove that you are entitled to [...]
Bankruptcy Lawyer | Who Can File Chapter 7 Bankruptcy Lawyer . Prior to October 17, 2005, it was largely up to a bankruptcy judge to decide whether a debtor met Chapter 7 requirements. Judges, therefore, could use substantial discretion when assessing the debtor's financial situation. As a result, under the old law, most filers chose to [...]
Chapter 7 Bankruptcy | How it Works Chapter 7 Bankruptcy . A chapter 7 case begins with the debtor filing a petition with the bankruptcy court . In addition to the petition, in a chapter 7 bankruptcy case the debtor must also file with the court: Schedules of assets and liabilities; A schedule of current income [...]
Bankruptcy Attorney | Is Chapter 7 Better Than Chapter 13 Bankruptcy Attorney . There are several reasons why Chapter 7 bankruptcy might be better for you than Chapter 13 bankruptcy. Chapter 7 is usually quicker than Chapter 13, most debtors can keep all or most of their property, and Chapter 7 filers don't have to pay [...]
Bankruptcy Attorney | Steps for Filing Chapter 7 Bankruptcy Attorney . If you are thinking about filing for Chapter 7 bankruptcy, here's on overview of what you'll need to do. 1. Analyze your debt. Some debts, such as child support obligations, are not dischargeable in Chapter 7 bankruptcy. And if you pledged collateral for a debt, [...]
Bankruptcy Lawyer | A No-Asset Bankruptcy Bankruptcy Lawyer . The majority of Chapter 7 bankruptcies filed in the United States are no-asset cases. When a Chapter 7 bankruptcy is considered a no-asset case, it simply means that the debtor does not own any nonexempt assets that can be sold to pay creditors. Read on to [...]
Bankruptcy Calculator | Business Debt Exception Bankruptcy Calculator . If you have primarily business debts, you don't have to pass the means test in order to qualify for Chapter 7 bankruptcy. The means test (bankruptcy calculator) determines whether your income is low enough to qualify for Chapter 7 bankruptcy. However, if most of your debts are [...]
Bankruptcy Attorney | Is Chapter 7 Right Choice? Bankruptcy Attorney . Before you file for Chapter 7 bankruptcy, decide if it makes financial sense. You can determine if Chapter 7 is right for you by asking yourself the following questions: Are you judgment proof -- that is, are creditors legally barred from taking your property or [...]