MAPLE SHADE
856-864-9670
SICKLERVILLE
856-864-9670
TOLL FREE
800-759-0767
MAPLE SHADE
856-864-9670
SICKLERVILLE
856-864-9670
TOLL FREE
800-759-0767
Chapter 7 bankruptcy can serve as a meaningful debt relief opportunity for those facing financial hardship. In a Chapter 7 bankruptcy filing, an individual can go from petitioning the courts to discharging their debts in as little as a few months. When compared with...
Filing for bankruptcy is a way to manage overwhelming debts and reclaim your financial future. One form of bankruptcy is a Chapter 7 filing, which is available to low-income filers. It is informally known as liquidation bankruptcy. This is because the bankruptcy...
One of the reasons that people may delay or avoid filing for personal bankruptcy is concern about their future financial stability. They worry about what may happen when they lose their revolving lines or credit or have to liquidate some of their assets to repay their...
Thankfully, people can protect most or all of their property from sale during even Chapter 7 proceedings.
However, the typical adult considering bankruptcy is an otherwise responsible individual whose finances have shifted. Successful professionals who earn competitive salaries are among those with the highest levels of revolving credit card debt in the United States and, therefore, are among those most likely to file for bankruptcy.
While they seem beneficial on paper, consolidation loans can often do more harm than good.
The length of that waiting period depends on the type of bankruptcy they filed before and the type of bankruptcy they want to file this time.
the court wants to see if the person filing bankruptcy has the means to pay something back to the creditors. To do this, the court compares the debtors income to the average income of a family the same size as the debtor that lives in the same state as the debtor
With Chapter 7 bankruptcy, the goal is to eliminate the debt. Typically, the person filing does not lose any assets. Occasionally someone will file knowing they will lose an asset but decides to file anyway because of the amount of debt they owe and they cannot afford to pay the equivalent value of that asset in a chapter 13.
Where you live can impact the type of bankruptcy you can file. That is because several years ago, Congress determined that in deciding whether a debtor can wipe out their debt entirely or must pay some of the debt back, there should be more focus on a debtor’s income
