There are differences between a Chapter 7 bankruptcy (“liquidation” or “straight bankruptcy”) and a Chapter 13 bankruptcy (the “wage earner’s bankruptcy”). While a Chapter 7 bankruptcy […]
Sometimes debtors are described as “judgment proof.” This means that creditors will have difficulty collecting debt against them because their property is legally exempt or they […]
Most bankruptcy filers will continue to owe tax debts at the end of a Chapter 7 bankruptcy. However, it is possible to discharge debts for State and […]
If a debtor does not qualify for a Chapter 7 filing, there are financial options other than Chapter 13 bankruptcy, but they have their own downsides […]
In order to qualify for Chapter 7 bankruptcy, which discharges most of a debtor’s unsecured debt (personal loans, credit cards, etc.), the debtor must pass a […]
It may seem somewhat ironic to anyone considering filing for bankruptcy that he or she is expected to pay exorbitant fees to file. Fortunately, filing costs […]
Even thought it may make perfect financial sense for them to file for bankruptcy, some people avoid filing because they feel embarrassed or ashamed. This is […]
Loan cosigners should know that if the primary borrower does not pay the debt and files for bankruptcy, the cosigner will be responsible for the debt. […]
Any consideration that a business owner gives to filing for bankruptcy hinges on whether he or she is personally liable for the debt incurred by his […]