Bankruptcy FAQ

30 04, 2014

Chapter 7, Chapter 13, Chapter 20 — Bankruptcy Options Are Available

2017-10-20T17:38:32+00:00 By |Bankruptcy Law Blog, Basics|

As a consumer, what Chapter of Bankruptcy is right for you? A Chapter 7? A Chapter 13? A Chapter 20? A Chapter 7 Bankruptcy involves the collection and liquidation of non-exempt assets. The proceeds of the non-exempt assets are distributed to your unsecured creditors. A Trustee will be appointed to your Bankruptcy case to administer [...]

18 04, 2014

Chapter 13 Debt Limits

2017-10-20T17:46:32+00:00 By |13, Bankruptcy Law Blog|

Debtors have the option of filing a chapter 13 bankruptcy as long as some qualifications are met.  One of those qualifications is the debtor’s secured and unsecured debt amounts cannot exceed the limits set for a chapter 13.  A chapter 13 is a repayment plan that allows debtors to make monthly payments to the assigned [...]

31 12, 2013

Is my Social Security Income protected from my Creditors?

2017-10-20T17:17:15+00:00 By |Bankruptcy FAQ, Social Security|

Your social security income may be protected from creditors – meaning they cannot garnish your social security check or the bank account that it sits in – if you protect it correctly. The relevant law is a section regarding Old Age, Survivor, and Disability benefits, which contains this language: 42 USC §407 (a) In general: [...]

17 12, 2013

Filing Bankruptcy after Christmas

2017-10-20T17:47:22+00:00 By |Bankruptcy Law Blog, Basics|

Christmas is the season of joy and giving.  Your credit cards might have saw a fair amount of action on Black Friday and Cyber Monday.  Credit cards are a necessity to make safe purchases on those cyber bargains and are easier to carry around town when making your last minute purchases.  Some consumers require credit [...]

30 09, 2013

Stop Collection Calls

2017-10-20T17:47:46+00:00 By |Bankruptcy Law Blog, Collection Efforts|

YES! It is possible -- When you are unable to make your monthly payments, Creditor calls are going to happen. First you will get a letter from your Creditor saying something airy like “Whoops you missed a payment!” Make your payment, plus late fees and all is well. But another month passes without payment and [...]

30 08, 2013

Pre-petition vs. Post-petition Debt

2017-10-20T17:29:37+00:00 By |Bankruptcy FAQ, Basics, Debts|

What does Pre-petition vs. Post-petition debt mean in a Bankruptcy? Pre-petition debt is all debt that you have incurred prior to your bankruptcy case being filed. You must list all of your Creditors and debt when you file bankruptcy. Pre-petition debt is the debt that we are expecting to be discharged as part of your [...]

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