If you’re finding it difficult to meet your monthly bills and your debt looks daunting, it may be tempting to consider filing bankruptcy. However, there are some things to consider before taking that big financial step. Is bankruptcy right for you? 1. Is Chapter 7 or Chapter 13 the best option? If you have assets […]

Chapter 13 is a different approach to bankruptcy, because those who file create a repayment plan based on their income. Rather than erasing their debt, they restructure it to fit their existing financial needs. There are many benefits to filing Chapter 13 because it allows those who choose this avenue to keep their property. It […]

While filing for bankruptcy is made as simple a process as possible for a person whose debt has become unmanageable, things behind the scenes are a little more complex. When a person files for bankruptcy, a debtor’s assets are turned into what is known as a bankruptcy estate, which becomes a separate legal entity from […]

If you are filing either a Chapter 7 or Chapter 13 bankruptcy, after you meet with your attorney and go over all your financials, another meeting will be held to give creditors an opportunity to determine how much – if any – money they are going to recoup after you file. Named because the meeting […]