If you are considering filing for bankruptcy relief, below are some useful pointers which may help your case go more smoothly. Do not repay relatives or friends before filing bankruptcy In times of financial stress, banks may be hesitant to loan you money whereas family and close friends may be…
Category: Bankruptcy
The most commonly filed bankruptcy chapter are chapter 7 and chapter 13, so we will compare these two in this article. Aside from these two chapters, chapter 11 is available for businesses or individuals who do not qualify for chapter 7 or 13; chapter 12 is available for farmers and…
Being able to keep their car is one of the main concerns people having when considering whether to file for bankruptcy relief. In South Florida, especially, most people need a car to get around and commute to and from work. The following factors are considered in determining which bankruptcy chapter…
With so many retailers having filed bankruptcy this past year, including BCBG, Payless, Toys R Us, and Radio Shack, to name a few, it is no surprise, that sometimes, unfortunately, businesses can fail. Continuing to operate a small business that is in debt, while dodging aggressive creditor collection efforts, is…
Benjamin Franklin said there were only two things certain in life: death and taxes. After all, it was not murder or racketeering but rather, tax evasion, that ultimately led to Al Capone’s capture. There is no question tax debt can be a source of sleep deprivation for many. I find…
Although a bankruptcy filing appears on your credit report for 7-10 years, it does not mean that you are frozen in time for 7 or so years. Many bankruptcy filers are able to get car loans and buy homes relatively quickly after filing for bankruptcy relief. Oftentimes, bankruptcy filers who…
Many people who file bankruptcy tend to prefer Chapter 7, as it allows you to get rid of more debt. It also gives you a clean slate in relatively short order and does not keep you on the hook for remaining balances. You can also file for Chapter 7 bankruptcy…
If you are being sued by creditors for debts you owe, the end result may be wage garnishment or bank levies, which may have a devastating impact on your life. If you are facing this situation, chances are you cannot afford to have bank accounts seized or 25 percent of…
If you are facing foreclosure and feel that you are coming to the end of the road, do not lose hope –bankruptcy may help. Chapter 13 bankruptcy was designed to help homeowners catch up on payments and potentially keep their homes. Immediately upon filing bankruptcy, protection referred to as the…
