Photo by Scott Graham on Unsplash These are financially very challenging times for many. One of the best decisions you can make is to get free bankruptcy legal advice now. What Businesses Do Before Filing Bankruptcy The following are just a few of the companies which have filed business bankruptcy in the last couple months: Pier 1 Imports CMX Cinemas … Read More
Why should you keep an open mind about filing under Chapter 7 vs. Chapter 13? Here’s an example why. Last time we introduced some of the main differences between Chapter 7 and Chapter 13. We suggested that you learn about them but also keep an open mind when you go see a Louisville bankruptcy lawyer. At that meeting you will always hear … Read More
You can file a Chapter 13 case if you are an “individual,” have regular income,” and don’t owe too much.
If you are concerned that in a Chapter 13 case a debt resulting from surrendered collateral will cost you more, often it won’t.
Often creditors’ proofs of claim do not affect the amount you have to pay in a Chapter 13 case. But sometimes they make a huge difference.
Chapter 7 strengthens your hand with your secured debts. But Chapter 13 can be much stronger. Starting with a more potent “automatic stay.”