How does consumer bankruptcy protect the furniture, computer and such that you bought on credit? Most people’s big worry about their collateral-secured debt is about their vehicle loan and/or home mortgage. So, appropriately most decisions about whether to file a Chapter 7 ... Read More »
Making Sense of Bankruptcy: “Converting” from a Chapter 7 Case to a Chapter 13 One
The ability to convert to a Chapter 13 case can be extremely important if something unexpected happens soon after filing a Chapter 7 case. Here’s the sentence that we’re explaining today: If you file a Chapter 7 ‘straight bankruptcy” case you can “convert” it ... Read More »
Making Sense of Bankruptcy: How Secured Debts are Treated in a Chapter 7 “Straight Bankruptcy”
Bankruptcy pays a lot of attention to and can help you deal with your secured debts in many favorable ways. Here’s today’s sentence that we’re explaining to help you understand bankruptcy: Filing a Chapter 7 case gives you some truly important benefits for dealing with your ... Read More »
Making Sense of Bankruptcy: Filing without Your Spouse to Protect His or Her Assets
You may not need to file bankruptcy without your spouse to prevent her or her asset(s) to be liquidated. Here’s the sentence that we’re explaining today: If you want to prevent your spouse’s separate assets from being potentially taken by a bankruptcy trustee, don’t ... Read More »
Making Sense of Bankruptcy: Avoiding the “Means Test” in a Business Bankruptcy
If you have debts from a closed or about-to-close business, you may be excused from the “means test” and qualify for Chapter 7. Here’s the sentence that we’re explaining in today’s blog post: Avoiding the “means test” can be highly advantageous, and ... Read More »
Making Sense of Bankruptcy: How to Protect Your Co-Signer
The “co-debtor stay” gives you an extraordinary way to take care of debts that someone co-signed for you. In our last blog post a couple days ago we explained the “automatic stay” by discussing the highlighted words of this sentence: Filing a consumer ... Read More »
