Category: Chapter 7
Your options: Chapter 7 bankruptcy and debt reduction
Chapter 7 bankruptcy, which is most commonly known as liquidation bankruptcy, is usually the type of bankruptcy you enter if you need to liquidate your assets to pay down your debts. Is Chapter 7 bankruptcy always necessary when you’re in heavy debt? No, and there are plenty of options you can try that your attorney
Pitfalls of bankruptcy you can avoid with help from an attorney
There are some pitfalls of bankruptcy that might catch you off guard if you’re not prepared, which is why your attorney is an important person to consult with before you decide to move forward. For one thing, you may find that the bankruptcy you expect isn’t exactly what you get, especially if you’ve moved states.
2 YMCA facilities to shut their doors for good in Tennessee
If you’ve been a fan of the YMCA of Jackson and West Tennessee, you may have noticed that the business in each area has shut its doors. According to an Oct. 8 report, the YMCA filed for Chapter 7 bankruptcy for both facilities. Now, the organizations will be dissolved and closed. The main reason behind
Will I have to take the bankruptcy means test?
If your debts are too high and you feel like your only option left is bankruptcy, you’ll need to find out if you qualify to file for bankruptcy before you can. The bankruptcy means test is the test you’ll need to take to show that you qualify for Chapter 7 bankruptcy and before your attorney
Non-exempt versus exempt assets
Exempt property is property that can’t be touched by a bankruptcy, which allows you to keep it and rebuild your life from an established point. So, that means that if you file for bankruptcy and have to liquidate your assets, there are some assets you’ll be able to keep and protect in order to prevent
Chapter 7 bankruptcy can help you get out of debt
Are you struggling to pay your bills? Are you worried that you could lose your home in a foreclosure? These are very serious issues that you have to resolve. Fortunately, there are several ways you can solve a debt dilemma that can help you get back on track financially. Chapter 7 bankruptcy is one of
What debts are non-dischargeable in a Chapter 7 bankruptcy?
What impact a Chapter 7 bankruptcy would have on a given person’s debt load is dictated by several different factors. One such factor is what specific types of debt are within the person’s debt load. This is because not all debts are treated the same in Chapter 7 bankruptcy. For example, some types of debt
The bankruptcy type decision
Deciding to file for a bankruptcy is a big decision. Of course, when a person makes this decision, it is not the end of the important decision-making for them. In fact, it is often just the start. Many important decisions can arise during the course of pursuing bankruptcy protection. One of the big decisions a