The Basics Of Filing Personal Bankruptcy
September 22, 2009 by admin · Leave a Comment
General Information about Ch. 7 and Ch. 13 Bankruptcy
Deciding to file for bankruptcy can be difficult. It can also be a fresh start toward a new
life. The type of bankruptcy that is best for you depends upon your individual situation.
To learn some of the basics about the different types of bankruptcy and how they work, please read on. To discuss filing bankruptcy with a bankruptcy attorney, please fill in the Free, No Obligation Evaluation Form. You will be contacted by a local bankruptcy attorney who will talk with you and help you evaluate the best course of action for your specific situation.
Just taking these first steps will help you feel better, and will help you take control of your financial future. Read more
Learn More About Chapter 7 and Chapter 13 Bankruptcies
February 9, 2009 by admin · Leave a Comment
The Two Types of Personal Bankruptcy
If you’re considering filing for bankruptcy as a way of escaping debt, it’s important that you know as much as you can about bankruptcy before you move forward. Read on to get an idea of which type of personal bankruptcy, Chapter 7 or Chapter 13, would best suit your financial needs.
Chapter 7 Bankruptcy, or “liquidation,” allows petitioners to discharge most unsecured debts.
Chapter 13 Bankruptcy, or “reorganization,” allows petitioners to repay most secured debts over the course of three to five years.
Chapter 7 & Chapter 13: The Similarities
Whether you file under Chapter 7 or Chapter 13 of the Bankruptcy Code, you’ll have to fulfill certain requirements. Before actually filing your petition with the court, you’ll have to complete an approved Credit Counseling briefing. The purpose of the briefing is basically to introduce bankruptcy alternatives (like credit counseling, debt consolidation, etc.) and make sure that bankruptcy is your only viable option. Read more