Chapter 7

Whether you can keep your home depends on various factors including the amount of equity in the property. The amount of equity you can protect in your residence depends on the exemptions available. If you live in, for example,  Pennsauken New Jersey, you can...

The bankruptcy means test is a significant factor in determining who can file for debt forgiveness through Chapter 7 bankruptcy. See  http://www.csmonitor.com/Business/Saving-Money/2016/0718/Why-the-bankruptcy-means-test-matters. It takes into account your...

Pro: Bankruptcy can often be used to eliminate or significantly reduce unsecured debt.Con:  Not all debt can be removed during bankruptcy, student loan debt, some taxes and child support obligations generally may not be discharged.Pro:  An automatic...

Eliminating credit card debt is one reason many people file for chapter 7 personal bankruptcy. A drop in income, a divorce, or illness can cause credit card debt to accumulate. Bankruptcy is a good option in eliminating this credit card debt. A trustee compares...

Credit card debt can be eliminated in chapter 7 personal bankruptcy in many instances. Often credit card debt can become overwhelming because of a drop in income, because of a divorce, because of an illness or other reasons. Bankruptcy is often the best option in...

What do you do if you filed a Chapter 7 personal bankruptcy and received your discharge and then realized you forgot to include a creditor. Prior to 1996 the debtor was required to file a motion to reopen the bankruptcy, pay a court fee, then file an amendment to add...

Contrary to popular belief, student loans can be discharged in bankruptcy in certain circumstances. While most borrowers would prefer to be able to repay their debts, sometimes their financial situation requires another approach. One way to eliminate student loans is...

Although it doesn't happen usually overnight, a person can wake up and realize that he or she is too far in debt to be able to financially recover without help. While many consumers rush to file for Chapter 7 bankruptcy after realizing the truth of their financial...

During hard times, many people are faced with the decision as to what they should do when the bills are piling up and there is not enough money to pay them. The harassment from collectors may soon prove to be too much and may cause someone to begin to consider other...

Among the reason that people in New Jersey seek a personal bankruptcy is the discovery that the business that they own is suffering financially. This may have been, at least in part, what also led one woman from another state to seek a Chapter 7 bankruptcy recently....