This 4th of July make your move towards financial freedom. Get informed. You’ll feel tons better once you know your options. Is This Your Life Today? If you’re reading this most likely you’ve got some rather serious financial problems. Most likely your debts are ... Read More »
Discharging Your Debts in Bankruptcy
If you need a fresh financial start, you can get there through a "discharge"--permanent legal elimination--of your debts. Whether you file a Chapter 7 “straight bankruptcy” or Chapter 13 “adjustment of debts,” they are both designed to finish with a discharge of some or all of your debts. A ... Read More »
A Chapter 13 Debt Limit Increase
As of April 1, 2016 you can have a little more debt and still qualify for a Chapter 13 "adjustment of debts." Why Debt Limits in Chapter 13? You can have an unlimited amount of debt when you file a Chapter 7 “straight bankruptcy.” However, there are debt limits when filing a ... Read More »
Chapter 7 and Chapter 13–Unsecured Debts
Which of the two consumer bankruptcy options is better for you if you have lots of unsecured debts depends on the kind of unsecured debts. Unsecured Debts Debts that are unsecured are those which are not secured by anything you own. The creditor has no “security interest” ... Read More »
Chapter 7 and Chapter 13–Personal Property as Purchased Collateral
How does bankruptcy treat something you bought—furniture, an appliance, or some electronics—when that thing is collateral on a debt? In our last couple blog posts we compared how Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts” each deal ... Read More »
Making Sense of Bankruptcy: The Vehicle Loan “Cramdown”
Chapter 13 may allow you to significantly reduce your monthly vehicle payment and to pay off the debt for thousands of dollars less. In this “Making Sense” series, we’re helping you understand bankruptcy by explaining its main concepts within single sentences. Today’s ... Read More »
