Tag Archives: Chapter 7

Chapter 7 Bankruptcy Information: A New Start

From the beginning of America’s recent recession through the present day, there has been a lot of talk about debt and bankruptcy. Since it is perhaps the clearest way for debtors to get a clean slate and get on with their lives, there is a lot of Chapter 7 bankruptcy information that is helpful to know. Anyone in serious financial trouble, however, should definitely consider seeing a lawyer that specializes in bankruptcy law. That being said, what does Chapter 7 bankruptcy mean for debtors and who can apply for it?

2009 Bankrutpcy Filing Increases

Personal bankruptcy filings sky-rocketed in 2009. In fact, some have reported that bankruptcies filed by individuals have risen by over 30%. With the current economic climate, it should not be a surprise as more Americans face serious financial hardships. With unemployments on the rise and home foreclosures continuing to climb, it is expected that more people will make the difficult decision to file bankruptcy.

5 Of The Most Common Myths About Bankruptcy

Misconceptions about bankruptcy and what it means to file are prevalent. Here are 5 of the most common misconceptions people have about the process.

First Consider The Negative Effects of Filing Bankruptcy

Before you consider filing personal bankruptcy, it’s important to get the whole story on the negative effects of bankruptcy. I went through bankruptcy four years ago, and I am still sorry I did it.

Do You Really Need A Bankruptcy Lawyer?

One of the biggest obstacles to filing for personal bankruptcy are the legal costs. The fees charged by the court are under $500 in total, but bankruptcy lawyers will charge you an additional $2,000 or more for services to file for bankruptcy. If you’re too broke to pay your credit cards and loan payments, [...]

Chapter 7 Bankruptcy Information: What You Need To Know

This is the chapter that most people would probably like to file under, since it will wipe your slate clean so to speak of all debt. Chapter 7 is also called “Liquidation” because your assets will be liquidated, or sold, to pay your debt.

Can Bankruptcy Stop Foreclosure?

So many Americans today are facing financial trouble, and that means they are in danger of losing the one thing they worked so hard for – their home.  Many times, when facing foreclosure, a homeowner may consider bankruptcy, as there is question whether bankruptcy can stop a foreclosure.  Here are some points to think about.
First, [...]