bankruptcy attorney

Eligibility Tests And Other Aspects While Considering Bankruptcy

Call: 888-297-6203 Misuse of Bankruptcy laws is something that was commonly seen in the 1990s and early 2000s which led to a series of changes in the Bankruptcy laws. Many individuals who had substantial assets also started declaring bankruptcy and ended up dissolving their debts effortlessly. To ensure the borrower truly needs a bankruptcy claim, there are the following tests that he/she can consider before filing for bankruptcy- Means test A means test is basically verifying if your income is lower than the median income of your state. Every state in the US based on various factors like [...]

2023-06-05T13:34:42+00:00

How To Deal With Your Property In Bankruptcy Exemption?

Call: 888-297-6203 When an individual files for bankruptcy under chapter 7 or chapter 13, they are expected to either pay for all the non-exempt property under the repayment plan or sell them to pay the creditors under chapter 7. However, bankruptcy exemptions help you to protect your non-exempt properties from creditors. Bankruptcy Estate and the Trustee’s Role Once a debtor files for bankruptcy, the total assets and liabilities are calculated to determine the debtors' Bankruptcy estate at the time of filing. The trustee is therefore liable to pay off the creditors the money due as per the value [...]

2023-06-05T12:57:59+00:00

All You Need To Know About Filing Bankruptcy Via Chapter 13

Call: 888-297-6203 Chapter 13 way of filing for bankruptcy can be one of the smoothest ways of minimizing debt, safeguarding assets, and starting a new chapter in your life. This kind of bankruptcy filing is suitable for filers who have a strong and reliable job, are looking to grow in their employment, and can sustain with same or higher pay scale for the next 5-10 years. The basic logic behind Chapter 13 is to restructure your debts and dilute them with a better repayment plan to ensure debt payoff looks more reasonable and easier. This helps in avoiding [...]

2023-06-05T13:39:16+00:00

What All Is There In Your Bankruptcy Estate?

Call: 888-297-6203 Let us know what all is included in our estate when we file for bankruptcy. 1) What is your Estate? All of your property and the property rights that you allow the bankruptcy court to administer are your estates. However, if you exempt a certain property that is not added to the value of your estate and the bankruptcy trustee will not be able to touch it. Everything you own that needs to be reviewed is included. In addition to that, in chapter 13 during your entire case, any property and income that you acquire are [...]

2023-06-05T12:29:47+00:00

How To Prepare For Your Bankruptcy?

Call: 888-297-6203 When an individual find themselves swimming in debt, it is then that they realize that bankruptcy is the only available option.  There is a list of do's and don'ts that you need to follow if you are planning to file for bankruptcy. 1) Don'ts If you think you might file for bankruptcy, never incur a new debt before filing. It might get difficult to discharge a debt that you might incur just before filing. Filing bankruptcy before a repossession or a foreclosure is a better option. Failing to do so might result in permanent loss of [...]

2023-05-31T13:38:52+00:00

Who All Are Eligible To File For Chapter 13 Bankruptcy?

Call: 888-297-6203 When you file for419 bankruptcy, it is important that you meet the criterion and requirements required to file under the chapter. When you file for bankruptcy under chapter 13, you do not have to surrender any property, instead, you will have to pay your existing debts under a repayment plan of 3-5 years. The criterion for filing under chapter 13 You are an individual and not a business entity. Only individuals are permitted to file for bankruptcy under chapter 13. You are not restricted to file due to your previous bankruptcy. If you have already filed [...]

2023-06-05T12:26:57+00:00

Chapter 13- Reorganization Bankruptcy

Call: 888-297-6203 Chapter 13 is also known as reorganization bankruptcy and unlike chapter 7 liquidation bankruptcy, here you don't have to sell off your non-exempt properties in return for debt relief.  In a reorganization bankruptcy, you can keep all of your properties and repay some of the debt following a structured repayment plan showing how you are going to do so from your disposable income. Eligibility To file for chapter 13 bankruptcy you will be required to show that you are capable of paying back your debt but if your income is too low or irregular then you [...]

2023-06-05T12:24:36+00:00

What To Expect When Hiring A Bankruptcy Attorney?

Call: 888-297-6203 Filing for bankruptcy is a very complicated process and more complicated than that is finding an experienced attorney who can handle your case smoothly. You might already have an attorney handling your business or family matters, but for bankruptcy cases, it is important to hire an attorney who specializes in bankruptcy-related matters. Why is it important to hire an attorney? Though it is not a necessity to hire a lawyer for filing bankruptcy, but getting expert knowledge in a complicated matter never hurts. Though it is quite difficult to chalk out funds during a financial crisis [...]

2023-06-05T12:26:02+00:00

Debts That Are Non-Dischargeable Even If You File For Bankruptcy Under Chapter 7

Call: 888-297-6203 Filing for bankruptcy does not mean that you will get rid of all (100%) of your debts. Though most of the debts are discharged, nonetheless, there are a few which remain even after you file for bankruptcy. Non-dischargeable debts under chapter 7 Student loans Federal, state, and local taxes Domestic support obligations Government-imposed restitution fines and liabilities Court fees Debts arising out of injury from drunken driving Non-dischargeable debts due to objection from Creditors Frauds Luxury goods purchased 3 months before filing for bankruptcy Cash advances taken within 3 months before filing Due to willful or [...]

2023-06-27T07:44:26+00:00

Exempt And Non-Exempt Properties In Chapter 7 Bankruptcy Case

Call: 888-297-6203 People file for bankruptcy for getting protection against their creditors. And the federal law has made a bankruptcy code and Bankruptcy court to handle all the cases. When you apply for bankruptcy it is known that some of your assets will go under Bankruptcy estate that will be handled by a bankruptcy trustee appointed to your case. He or she will sell the bankruptcy estate and distribute the money from it to your creditors to settle your debts, the rest unpaid debts will be discharged thereafter. In chapter 7 liquidation Bankruptcy case all of your property [...]

2023-06-05T12:22:50+00:00
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