Chapter 13

Many people believe that they will lose everything they own if they file for bankruptcy. Not true. In fact, most people who file for bankruptcy do not lose anything they own at all. How can that be? Well, the secret lies in… Exemptions. Most consumers file for Chapter 7 (or “liquidation”) bankruptcy. In a Chapter […]

Statistics show that 55% of all marriages end in divorce. And 39% of all divorced couples say that conflict over finances was the reason the marriage fell apart. Fights over money ruin relationships. That’s why we so often see divorce occurring when there is a bankruptcy. It’s because of this that it is critical to […]

Let’s say you’re having a really, really, bad week. You were injured in a car accident, the extension the contractor put on your house fell apart and now you’re suing him for breach of contract, your wife just found out about your (latest) girlfriend and has filed for divorce, and you can’t pay your creditors, […]

The decision to file bankruptcy is not an easy one to make. Many people experience enormous distress, shame and embarrassment over their financial difficulties. Without question, declaring Chapter 7 or Chapter 13 bankruptcy is no minor decision. But it just may be the right one for you. Especially if you cannot see any way of […]

Bankruptcy is a complex process that begins before the time you file and goes straight through to the debt discharge and the period when you will begin the process of rebuilding your credit. An experienced bankruptcy attorney can help you navigate the maze of decisions, paperwork, procedure, and compliance that goes along with a bankruptcy […]

Bankruptcy and Divorce

Divorce is one of the big three reasons people file for bankruptcy (medical and job loss are the other two).  The interplay between these two areas of law can be complicated.  To make the right decision in terms of if and when to file for bankruptcy in the context of divorce, you need to know […]

For people who are ineligible for Chapter 7 bankruptcy, or wish to repay their debts using a repayment plan, filing for a Chapter 13 bankruptcy can be a great option. The following are some pros and cons to declaring a Chapter 13 bankruptcy. Pros: While under Chapter 13 the repayment of debts generally take place […]

The main hurdle you have to overcome when attempting to qualify for Chapter 7 bankruptcy is the means test. The Chapter 7 means test is designed to look at your income and expenses and disqualify you for Chapter 7 if they don’t fit within certain guidelines. The means test will compare your average monthly income […]

One of the fears many people have over filing for bankruptcy is that they won’t be able to get credit afterwards. This is simply not the case. While declaring bankruptcy will hurt your credit score, there are strategies for rebuilding your credit immediately after filing.  Most chapter 7 clients begin receiving credit offers within 30 […]

Filing for Chapter 7 bankruptcy is a way for people overwhelmed with debt to get a fresh start on their finances. A debt discharge under Chapter 7 releases the debtor from personal liability for most debts. However, there are some debts that do not fall into this category. Depending on the circumstances, there are some […]