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Filing Chapter 7 Bankruptcy: What are the Benefits and Drawbacks?

It is not simple to make a choice to file for bankruptcy. However, a bankruptcy filing could be the best approach to your debt and financial problems. Filing bankruptcy has several advantages that other debt-relief options do not offer. There a lot of benefits when you file for bankruptcy but there are also few [...]

2021-03-30T05:04:25+00:00

How Does Bankruptcy Chapter 7 Work

Filing bankruptcy Chapter 7, which is also referred to as liquidation bankruptcy, can wipe out different types of debt. This is considered one of the simplest bankruptcy forms. With a successful bankruptcy filing, a debtor can be spared from the need to repay debts that he or she owes from creditors. Once your bankruptcy [...]

2021-03-17T11:18:19+00:00

Declaring Bankruptcy Chapter 7: Discharged Debt and the Means Test

Most people having financial problems choose to file a petition in bankruptcy court. Bankruptcy attorneys get numerous calls and inquiries on such, particularly on related pros and cons. The fact that rebuilding credit after bankruptcy can be difficult is indeed a down-side for some, but the bankruptcy filing in one's credit report can be [...]

2021-02-16T07:11:19+00:00

Bankruptcies during the COVID-19 Outbreak

Because of the safety protocols imposed in response to the global COVID-19 pandemic, many federal bankruptcy courts throughout the United States have adopted modified operations to ensure that physical distancing is observed at all times and to prevent beginning a contagion in a United States bankruptcy court. In Washington, many courthouses have closed, leaving [...]

2020-06-15T05:31:41+00:00

Pros and Cons of Filing Chapter 7 Bankruptcy

Filing for bankruptcy is not an easy decision.You will need to weigh in factors such as your capacity to pay off creditors, the list of exempt property and nonexempt assets you have which will be placed in a bankruptcy estate, where you can get legal advice, and even how your credit score will be [...]

2020-06-05T08:33:36+00:00