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Responsibilities when filing bankruptcy under Chapter 13

Chapter 13 filing forms are pretty similar to the forms used for Chapter 7. The information and objectives are the same in both cases. This procedure includes detail of income, assets or properties, expenses, and debts. Along with this information, you shall also provide for a plan that shall manage all the debts in the future 3-5 years. Along with these information pieces, you also need to enclose your latest federal and state tax returns. There has to be proof for income tax filing for the last 4 years. You also have to avail a certificate for credit [...]

2019-07-29T09:54:51+00:00

Read the Fine Print on Credit Cards and Avoid Going Bankrupt!

Often people take debts to meet their financial requirements. These debts can be either secured ones (where a property is kept as collateral) such as a home loan or car loans; or unsecured like credit cards, etc. Since most credit card debts do not have any property which can be claimed in case you don’t pay, they can be discharged during bankruptcy. However, sometimes, some fine print on the card can make them secured without you having any knowledge of this. In such cases, these debts will not be discharged during bankruptcy. It is therefore important to be [...]

2019-06-28T12:38:31+00:00