Navigating the Complicated World of Bankruptcy

« Back to Home

POSTS

Chapter 7 Bankruptcy: The 341 Meeting and After

Posted on

Filing for Chapter 7 bankruptcy requires attending a court hearing called a 341 meeting of the creditors. You and your bankruptcy lawyer must attend this meeting since it is required for all Chapter 7 cases. Here is some information to help you learn more about this meeting and the things that happen after it. The Basics of the 341 Meeting Once you submit your bankruptcy documents, you can expect to have your 341 meeting within approximately three weeks.…

Read More »

How To Emerge From Chapter 7 With Your Home Intact

Posted on

If you have made the decision to file chapter 7 bankruptcy, you may be justifiably concerned about losing your home. Chapter 7 bankruptcy carries with it the potential for property losses. While it doesn’t happen to everyone, some filers may have to surrender their vacation home, vehicles, boat, and even their primary family residence. It doesn’t necessarily have to happen that way, though. Read on to find out how you can get through your chapter 7 bankruptcy and keep your family home.…

Read More »

Matters Of State: How Your State Of Residence Influences Bankruptcy

Posted on

Did you know that the state you reside in can totally change your bankruptcy experience? Your legal state of residence (known as your domicile) affects several issues even though you declare bankruptcy using the federal court system. Read on to find out more. State Exemptions Almost all states choose to put forth their own set of exemptions for filers to follow. If you are not familiar with exemptions, they are extremely important for filers who want to keep as much personal property as possible.…

Read More »

The 341 Meeting Of Creditors In Chapter 7 Bankruptcy

Posted on

If you are in the process of working with a bankruptcy lawyer to file for Chapter 7 bankruptcy as a way of finding relief from your debt, you should understand that you will be required to attend a court hearing. This hearing is called a 341 meeting of creditors, and it is mandatory in a Chapter 7 case. What is the purpose of this meeting? The 341 meeting of creditors is a meeting that is required for all bankruptcy cases, and its primary purpose is to give a person’s creditors a chance to object to the bankruptcy filing and discharge.…

Read More »

Bankruptcy And Your Tax Returns

Posted on

You might be startled at the interest the bankruptcy courts show in your tax filing status. Your income, the taxes you might owe, and other aspects of your tax situation play a role in your bankruptcy in several ways. Read on to learn more. Chapter 7 and Tax Return Status In most cases, the bankruptcy trustee will want to see a copy of your most recent tax return. If you have not yet filed your taxes, be ready with an explanation as to why not.…

Read More »

Payday Loans And Bankruptcy

Posted on

When you faced a tight financial situation, a payday loan seemed like a lifesaver. However, while the loan might have offered you an immediate relief, the loan likely left you in an even worse financial situation. With the excessively high interest rates and strict payment guidelines, it’s no surprise. If your payday loan concerns have spiraled out of control and you are facing financial catastrophe — bankruptcy might be an option.…

Read More »

Three Signs That You May Be Ready For A Chapter 7 Bankruptcy

Posted on

Chapter 7 bankruptcy refers to a specific type of personal bankruptcy. A type of bankruptcy where your debts are discharged, and you are given a fresh start. This bankruptcy is not for everybody, and you may not qualify for one. Your annual income will need to be below the median income for your state. But the following are a few signs that you are heading in that direction of a Chapter 7 bankruptcy.…

Read More »

Should You File For Bankruptcy?

Posted on

Whenever a person is experiencing severe financial problems, he or she might wonder whether to file for bankruptcy. Determining whether or not to file is not an easy decision for most people, as there are consequences of filing, but you might be able to find the answer to this question by analyzing the following three questions. How Much Will It Cost to File? The first thing you might want to evaluate is the costs of filing for bankruptcy.…

Read More »

Too Rich To Fail: Meeting Income Requirements For Chapter 7

Posted on

When things go wrong with your finances it may not matter how much income you have coming in. People of all income levels get their financial situations in a mess and a high level of pay might not mean you are immune to making mistakes. The problem is that if your income is too high you won’t be able to file for a chapter 7 bankruptcy. Read on to learn more about this unfortunate situation and how you can cope with it.…

Read More »

Live To Use Credit Again

Posted on

Dark days can seem never-ending when your finances are in trouble, but a decision to file for bankruptcy is your first step towards sunshine. Not only will you find some immediate relief, you will have one of those rare “do-overs” where you can review and makes changes for the better. Read on to learn a bit more about recovering after a chapter 7 bankruptcy filing. How did you get into such a mess?…

Read More »