Are you receiving more bankruptcy notices than payments from debtors? Not sure how to respond, protect your interests, and collect on debts? Here are steps every creditor should take:
An automatic stay is an injunction that protects you and your assets from creditors from the moment you file your bankruptcy petition. It can save your home from foreclosure, stop repossession, end creditor harassment and more.
Yes. With bankruptcy, you can save your home from foreclosure, bring your mortgage current, resolve judgments and tax liens, and repay other outstanding debts.
In late 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted into law. Among other things, this act requires a “means test” to see if debtors qualify for Chapter 7 bankruptcy relief. The means test examines your monthly income and expenses and compares them to the median income in and around your area. Typically, if you make less than the median income for a family of your size, you are allowed to file Chapter 7. If your income exceeds the median income, you may not be allowed to file Chapter 7, but may be allowed to …