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Exemptions to Chapter 7 Bankruptcy: Homestead
When a debtor files for Chapter 7 bankruptcy, he will submit a list of property he wishes to keep and withhold from the bankruptcy estate.
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Guide to Chapter 13 Bankruptcy
To many, the thought of filing for bankruptcy probably conjures up images of losing their homes, cars, assets and personal belongings. While Chapter 7 bankruptcy liquidation does require that a debtor’s non-exempt assets and property be liquidated...
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Chapter 11 for Small Businesses
If a small business is a corporation or partnership, it is a separate legal entity from its shareholders and partners. Such an entity is able to file for Chapter 11 itself. There are several factors to consider in relation to bankruptcy of a small business, which will determine whether or not Chapter 11...
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5 Ways to Deal with Debt Collection Agencies
A debt collection agency is a company that works on behalf of a lender to collect a debt that has been unpaid. This might include hospital bills, credit card bills, loan payments or something s
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Advantages and Disadvantages to Filing for Bankruptcy
When consulting with a potential client initially, it is important to determine whether or not a bankruptcy would truly be beneficial...
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What debts are cleared after filing bankruptcy?Most unsecured debt, including credit cards, unpaid bills and mortgages can be eliminated after you file for a bankruptcy. The only things that will not be erased are child support payments and alimony, DUI or other fines owed to the government... What property of mine will be liquidated to pay my creditors? The bankruptcy trustee will liquefy your real estate holdings and vehicles (including automobiles and boats) to ensure that all of your debts are paid off. Only items that are tax-exempt are not eligible for liquidation. The trustee... Will my credit be ruined for life? Absolutely not. In fact, many creditors may consider you to be less of a risk after you file for bankruptcy than before, because it is not incredibly likely that you will need to file again. Also, the filing is expunged from your record after ten years...
