Filing a Chapter 7 Bankruptcy has many advantages for you if you are unable to pay most or all of your debts. Chapter 7 Bankruptcy can get rid of most unsecured and other kinds of debt so that you are given a “Fresh Start.” To receive the Fresh Start, however, you may have to give [...]
consumer bankruptcy
What is a Means Test? In 2005 Congress enacted changes to the bankruptcy code. These changes were intended to make bankruptcy harder. To make it harder, and more helpful to creditors, Congress developed a Means Test to determine whether a debtor can file for Chapter 7 bankruptcy protection. Debtors deemed ineligible for Chapter 7 are [...]
The 341 Meeting is often regarded as mysterious. But, before we demystify the 341 Meeting, you should first be sure to know that bankruptcy is one option if you seriously cannot meet your financial obligations. Chapter 7 bankruptcy allows you to wipe out most, but not all forms, of your unsecured debts. Chapter 13 bankruptcy [...]
What is Bankruptcy? There are two main consumer bankruptcy Chapters which you can use to obtain a “fresh start.” Chapter 7 Bankruptcy is the most common example of consumer bankruptcy and is utilized when you can no longer pay your creditors. Under Chapter 7 Bankruptcy, your possessions are liquidated in order to pay off your [...]
Tough economic times have caused millions of American consumers to experience extreme financial problems and out-of-control debt. Consumer bankruptcy may be a viable solution for those consumers who just need a financial fresh start. Consumer bankruptcy was designed to provide consumers who are overwhelmed with debt a way to reduce, eliminate, or reasonably pay back [...]
Aside from a smoky pool hall with its visible collection of baseball bats, payday loans are the next worst form of consumer lending. But, payday loans promise easy credit in a pinch. Friendly websites, fast talking, and a faux concern for a person’s financial well being makes even the Pied Piper blush. Even celebrities are [...]
Capital One, a major issuer of credit card debt, is fully subject to the bankruptcy laws. Despite its sophistication as a major lender, it routinely flouts the Bankruptcy Code according to sources. Courts and bankruptcy administrators had begun investigations of Capital One to determine if its unlawful conduct is intentional and to what extent it [...]
The short answer is maybe. It depends on the type of bankruptcy filed, the equity in your home, your state of residence, and who else owns the home with you. Let’s take it step-by-step. First. If you are a homeowner considering bankruptcy, you must determine the amount of equity in your home. Your home value [...]