3 Useful Tips When Thinking About Filing For Chapter 13 Bankruptcy
If you have gotten yourself into debt, sometimes the only way to respond is to file for bankruptcy. Chapter 13 bankruptcy is ideal for those with regular income who can afford a re-payment plan. If you're considering this option, be sure to utilize these tips. Take Time With Paperwork Filing Chapter 13 bankruptcy is not going to happen overnight. It is quite a long process, in fact, given all of the paperwork involved.
When You Want to Hold Onto Certain Debts
The whole idea of chapter 7 bankruptcy is to leave as much debt as possible behind. There are some cases, however, in which you might want to reconsider and carry debt forward. Read on to find out why you would agree to keep the debt and how to do so. Secured Debts and Reaffirmations Your bankruptcy debt is divided into secured and unsecured. Secured debt is anchored by the property itself.
Advantages Of Chapter 13 Bankruptcy Vs. Chapter 7
There are a lot of people who instantly think Chapter 7 bankruptcy is better than Chapter 13, but this is not really the case. Chapter 13 offers some key advantages that are not available through Chapter 7, and here are the top ones. It Offers Debt-Relief to People Who Make Too Much Money You might not realize that there are income guidelines that you must meet in order to file for Chapter 7, and this often disqualifies people from using this branch of bankruptcy.
What To Know About Your Bankruptcy Trustee
Declaring bankruptcy is a big step, but knowing what to expect can help ease the stress and confusion of the situation. Once you file, you will be assigned a bankruptcy trustee, who will be managing your bankruptcy case from now until its final petition. While you should still count on your bankruptcy attorney to lend you support during the months that it takes a bankruptcy to go through court, yourbankruptcy trustee also fills an important role.
How Does Personal Bankruptcy Affect You?
Bankruptcy is a scary word. There is such a stigma attached to it that many people are afraid even to consider filing for personal bankruptcy, even when it is the best alternative. To de-mystify bankruptcy, it helps to understand how bankruptcy affects you. What Debt Does Bankruptcy Remove? Filing for bankruptcy removes a significant portion of your debt, but not all of it. Take some time to figure out what is driving your debt.
Your Right To An Appeal: How To Get Social Security Disability Benefits When Your Application Has Been Denied
There are many reasons a social security disability claim will get denied. Whether you did not complete the necessary paperwork correctly, or you did not have enough evidence to back up your claim of a disability, you have the right to file an appeal when you receive a denial letter. Time to Appeal Your Denial of Social Security Disability Benefits When you receive your letter stating that the decision was made to deny you benefits, you have sixty days from the receipt of this letter in order to file an appeal on your behalf.
3 Things You Need To Know About Chapter 7 Bankruptcy Before Filing
So many people find themselves in dire straits with their finances. Sometimes, the debts are manageable and a repayment plan can be created with each of the debtors. However, sometimes a repayment plan just isn't feasible because of the amount of debt involved. For those people, filing for Chapter 7 bankruptcy can be a viable solution. However, you shouldn't be so quick to turn to bankruptcy to solve your financial problems.
Legal and Ethical Questions Answered: When Lawyers File for a Chapter 7 Bankruptcy
Lawyers, just like any career that requires years and years of education and training to complete, have monumental school debts. Even after they have worked for a couple of years, there is always more debt piled on top of the school loans--mortgage, car loans, etc. Therefore, it is understandable if lawyers file for bankruptcy, but the question is, can they? What are the legal and ethical issues surrounding a lawyer and his or her bankruptcy?
2 Types of Bankruptcy and When You Should Consider Them
Filing bankruptcy is often a last resort for many individuals, mostly because they think that it is some kind of failure on their part. However, a bankruptcy is often the best option for people drowning in debt and having difficulty paying their debts. Below are just two bankruptcy types to consider, as well as when you should consider them. Chapter 7 A chapter 7 bankruptcy is one of the most common types of bankruptcy, mostly because of the many benefits that it provides.
For Hardworking Seniors, Chapter 13 Bankruptcy Can Be The Right Compromise
Retirees face most of the same financial pressures as the rest of the population. That may include considering filing for bankruptcy—something that more than 1 million people do each year. But seniors facing this option often have some unique obstacles and a few possible aids. How can they find the best debt relief in this situation? The Moral Dilemma The first barrier to bankruptcy that many retirees face is not a financial one, nor is it the red tape or costs involved.