chapter 13
Five Common Chapter 13 Bankruptcy Myths
Although Chapter 13 bankruptcy is not the most widely used bankruptcy option, it is preferred by many homeowners that are on the verge of losing their homes. Under a chapter 13 bankruptcy, single or married consumers are allowed to propose a three to five year repayment plan, during which time they can bring their past [...]
What happens to you if your business files bankruptcy?
Whether or not your business bankruptcy will affect you personally depends on the type of bankruptcy you file.
If you file chapter 7, the shareholders of your corporation (including you) could lose your stock values if the stock shares are liquidated with the corporation assets.
If you choose to file chapter 13 bankruptcy, the shares of the [...]
3 Reasons Bankruptcy May Be Right for You
Although bankruptcy is not the right solution for every consumer or business owner, it may be for you. If you’re suffering from severe financial hardship, are unable to pay your bills or trying to prevent foreclosure on your home, you may find this debt relief option very beneficial for your situati0n.
Here are 3 [...]
Chapter 13 Bankruptcy Payment Plan
When you file for chapter 13 bankruptcy protection you are required to repay your outstanding debt, usually within a three to five year period, and allowed to keep your property. This bankruptcy option can be ideal for working individuals who have a substantial amount of debt on secured assets like a home, automobile or other [...]
Can Chapter 13 Bankruptcy Prevent Foreclosure?
The short answer is Yes.
Chapter 13 bankruptcy is typically designed to help working individuals protect assets like their home and automobile while adhering to a plan that ensures your creditors are paid. You can seek the help of an experienced bankruptcy lawyer in structuring a three to five year payment plan that will allow you [...]
Is Bankruptcy Right for You?
Deciding whether bankruptcy is the best choice for your personal situation, is not an easy decision to make. Individuals seek bankruptcy relief for a number of reasons. As you consider filing for bankruptcy, ask yourself the following questions:
Are you receiving threatening notices from your creditors?
Are you on the verge of foreclosure?
Have you lost a [...]
Are you eligible for Chapter 7 Bankruptcy Protection?
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 [...]
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