If you can qualify, Chapter 7 bankruptcy may provide more advantages to you than Chapter 13 bankruptcy.  But everyone’s circumstances are different, so you will need to know the advantages and disadvantages to Chapter 7 bankruptcy to determine if it is the best solution for you. The key advantage of a Chapter 7 bankruptcy is…

There are many misconceptions about the bankruptcy process that can make you think it is not a viable option for you to get out of debt.  But in reality, there are several real benefits.  Perhaps the greatest source of relief for distressed debtors is what is known as the automatic stay.  As soon as your…

While filing for bankruptcy is not necessarily the answer for everyone, it can be a good vehicle for leaving financial worries behind.  Here are some scenarios where filing for Chapter 7 or Chapter 13 bankruptcy can make sense: Job Loss – Finding a new job may require many months of searching, and in that time,…

If bankruptcy was a physical illness, we would be able to feel its symptoms and know that something was wrong.  However, many people come to bankruptcy in a state of surprise – or denial – about how they got there, even if it was through no fault of their own.  In 2018, more than 755,000…

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If
 you’re struggling financially,
 you
 may
 be
 wondering
 not 
only 
if 
filing
 bankruptcy
 is
 a 
good
 option 
for
 you
 and your 
family,
 but
 how
 you
 will
 know
 when 
the
 time is right 
to seriously
 consider 
it. The 
American 
Bankruptcy
 Institute 
has provided
 a 
useful 
bankruptcy 
checklist 
for
 consumers
 and
 recommends
 that 
if
 three or more
…

Chapter 7 bankruptcy will ruin my credit for 7 years It is true that the bankruptcy is reported for up to 7 years after you file your bankruptcy. However, it does not negatively affect you for that long. At the end of your Chapter 7 bankruptcy, you will be debt free (with some exceptions like…

You want to save more for retirement. You want to save for your kid’s college. You want to plan for your financial future and set financial goals. Standing in the way is your debt. You can’t seem to get ahead or make a dent on the amount of debt you have. It is the ever…

Attend First Meeting Now that your bankruptcy case is on file, you will have to attend the First Meeting of Creditors. The Meeting is typically a fairly straightforward ordeal. We will support you with answering the Trustee’s questions regarding the bankruptcy documents that we have reviewed with you prior to filing In order to reduce…

Plan Payment Wage Withholding. The Chapter 13 Trustee will contact your employer to set up the wage withholding to ensure the plan payment is made each and every month. The plan payment will then be withheld from each paycheck you receive. To calculate how much will be withheld from each paycheck use the math in…