Filing a “straight bankruptcy” Chapter 7 case stops the repo man even if he’s about to grab your car or truck. What happens next?
How filing bankruptcy immediately protects you and your assets from collection attempts by your creditors.
Income has gone down since the official end of the recession in spite of more education.
Not only have our incomes continued to go down since the recession officially ended, they’ve gone down more than they did during the recession.
Considering the length of a Chapter 13 case, and also its many advantages, you need to know what it takes to successfully finish it.
Before getting into something, you should know how to get out. Like what it takes to successfully finish a Chapter 7 bankruptcy case.
You almost never attend the “confirmation hearing,” it may take only a few minutes, but it’s crucial because there your plan gets airborne.
The “meeting of creditors” is for finding any kinks in your payment plan, and hopefully straightening them out.
In most Chapter 7 “straight bankruptcy” cases the “meeting” is short and straightforward. But you do need to take it seriously.
Most debts are written off–“discharged”–in bankruptcy. But not “fraud” ones. Watch out for creditors’ use of the “presumption of fraud.”
Bankruptcy doesn’t write off criminal fines, fees, or restitution. So why think about bankruptcy if you have, or expect to have, such debts?
Reach the main goal of most bankruptcies–the “discharge” (write-off) of all or most of your debts–by being honest throughout your case.
Student loans are difficult to write off in bankruptcy because the standard for doing so is very tough. But you might still qualify.