One question that people might ask when considering filing bankruptcy is, “What Does Declaring Bankruptcy Do?” Some may think of it as one of the worst things to happen financially, but knowing how to take advantage of this process may actually be a great opportunity for them to start over fresh. For people with unimaginable debt or facing foreclosure can declare bankruptcy to save their home and have the debts discharged. Both Chapter 7 and Chapter 13 bankruptcy help debtors with their … [Read more...] about What Does Declaring Bankruptcy Do?
Chapter 13 Bankruptcy
One question that people might ask when considering filing bankruptcy is, “how much does a Chapter 13 Bankruptcy cost?” When considering bankruptcy, especially a chapter 13, it's always good to consider how much the whole court case will cost beforehand. While there are court filing fees and other administrative costs, the actual cost to file bankruptcy can differ case by case and should be discussed with a bankruptcy attorney to get a professional's opinion on it. Qualifying For Chapter 13 … [Read more...] about How Much Does a Chapter 13 Bankruptcy Cost?
If you are having a hard time keeping up with payments, especially during a global crisis like the Coronavirus (COVID-19) in 2020, you might be asking, “Is it better to file a chapter 7 or 13?” The answer really depends on your situation, but the general rule is that: Chapter 7 bankruptcy is for people with limited income that is not sufficient enough to fully or partially pay back their debt Chapter 13 bankruptcy is for those who do have enough income to pay their debt through a … [Read more...] about Is It Better to File a Chapter 7 or 13?
When Is Filing Chapter 13 Bankruptcy The Best Option? In this breakdown of Chapter 13 bankruptcy for Californians, we have a very important job: to help a person to save their home and car after they fall behind on payments. If someone has missed a single car payment, even if they are just a few days late, it is possible for the finance company to repossess the car. If someone has missed more than 3 mortgage payments, the home lender will start the foreclosure process to sell the home. … [Read more...] about Breakdown of Chapter 13 Bankruptcy For Californians
Chapter 13 Bankruptcy offers individuals a way to eliminate debt and stop foreclosure as well as auto repossession. When the Chapter 13 bankruptcy attorney declares bankruptcy for a person, they may be able to save their home, car, savings, and their personal belongings. Americans have seen the economy steadily improve since the great recession of 2008, but many millions of people are still struggling financially. Sudden job loss or illness is typically the reason why a person falls behind on … [Read more...] about Debts That Can Be Eliminated With Chapter 13 Bankruptcy