I have often heard from individual’s considering filing bankruptcy they do want to do this because they will never get credit again. That is not true. Most individuals who file bankruptcy can be educated how to reobtain their credit within 18 months … [Read more...]
The Chapter 7 Bankruptcy Process
Once a Chapter 7 bankruptcy is filed on the debtors behalf the United States Bankruptcy Court appoints a trustee. The court, upon filing of the bankruptcy, gives the debtor an automatic stay. This is a federal court order which cause all collection … [Read more...]
Bankruptcy Described
Bankruptcy involves a legal proceeding in which an individual can eliminate debt or work out a plan to pay back debts while under the protection fo the United States Bankruptcy Court. Bankruptcy Protection Bankruptcy can prevent continued legal … [Read more...]
Bankruptcy Terms
Bankruptcy court proceedings are handled in the United State Bankruptcy Court. Article 2 of the United States Constitution reserved the right to Congress to make laws involving bankruptcy. Federal proceedings differ from state court proceedings in … [Read more...]
Bankruptcy Myths
Myth #1:The filing of a bankruptcy will eliminate your credit for 10 years. This is not true. The bankruptcy filing will remain on your credit report for up to 10 years. This does not mean it will have a negative effect on your credit during that 10 … [Read more...]
Questions about Bankruptcy
What is bankruptcy? Bankruptcy is a federal legal proceeding designed to help individuals and corporations deal with debt problems. Individuals who do not have the current ability to pay their debts can file either a Chapter 7 or Chapter 13 … [Read more...]
FAQs Regarding Bankruptcy
The following are a series of frequently asked questions regarding Bankruptcies Can anyone file a bankruptcy? This is a difficult question to answer. Generally speaking, for an individual to a bankruptcy he or she must have negative cash flow. … [Read more...]
Filing for Loss Mitigation and Bankruptcy at the Same Time
Homeowners often file for a Chapter 13 bankruptcy to prevent the pending sale of their homes. It is often recommended in addition to filing a Chapter 13 bankruptcy that the homeowner also file a loss mitigation proceeding. The Eastern District … [Read more...]
Using Bankruptcy as a tool
Individuals and corporations facing serious debt issues can look at bankruptcy as a remedy to these problems. To start with, bankruptcy eliminates collection lawsuits. The filing of a bankruptcy also can stop wage garnishments, prevent harassing … [Read more...]
The Chapter 7 Bankruptcy
The Chapter 7 bankruptcy is a liquidation type of bankruptcy. Generally speaking most people who file a Chapter 7 bankruptcy have no assets that need to be liquidated. In this case the Chapter 7 bankruptcy simply eliminates all of the debt that you … [Read more...]
