News — bankruptcy

The chapter 13 bankruptcy filing assists an individual reorganize their own financial debt to permit for repayment on the three to five year time period. Chapter 13 bankruptcy exceptions exclude particular home or even assets owned through the debtor being attached via those people who are owed money or being dropped by the borrower to be able to repay the cash to be paid. This bankruptcy exemptions will be different by whatever state governs in which the Chapter 13 petition is submitted. Chapter 13 authorized inside California, for instance, may not be exactly the same exceptions allowed by the bankruptcy...

If filing chapter seven bankruptcy or even chapter thirteen bankruptcy, seems to be imminent, we seriously recommend that you review this quick start list. Just by beginning to throw specific paperwork into specific boxes, you’re creating a platform that will help make getting organized so much easier. Even, if you’re not sure about really moving forward, following these simple procedures doesn’t take much special effort and will make filing chapter seven bankruptcy that much easier of a decision to make. 1. Start collecting bills for monthly expenses such as: electricity, gas, food, cable, phone, etc. In both Chapter Seven Bankruptcy...

If you are considering filing for bankruptcy, here are 7 things you should NOT do. 1. Do not pay back money to friends or relatives. If you have borrowed money from family members or friends, now is not the time to pay them back. If you make any payments like this within one year prior to filing your petition, you must disclose those payments on your bankruptcy petition and to the trustee at your meeting of the creditors. The bankruptcy court considers these to be preferential, insider payments. That means, you are using money that could go to your other...

If you have no funds and can’t manage to pay your loans from your savings and earnings then credit card bankruptcy options can assist you to resolve your problems. Sometimes when you are unaware of the right use of the credit cards then you make the extensive use of the plastic money due to which you find yourself in the depth of liabilities to come out of which becomes a very hard at the time of payment. In such condition you fall in two types of debt problems one is single liability and the other may be the multiple loans...

If you’re finding your way through a Chapter 13 bankruptcy, you are required to send regular monthly payments to the bankruptcy trustee who will deliver your money towards your loan companies as outlined by a repayment schedule agreed upon with the bankruptcy court. In most cases, one would decide on a Chapter 13 in an attempt to save a home from foreclosure, to try and keep a vehicle from being repossessed or simply because they own properties and assets that go above and beyond the authorized exemptions they want to save. Still, if a situation comes up that makes it...