Category Archives: Chapter 7
You Lost Your Job Because of COVID-19: Is Chapter 7 an Option?
In light of the coronavirus pandemic (COVID-19), this article is very timely. After President Donald Trump declared a national emergency in mid-March, movie theatres shut down, schools switched to online learning, concerts and events were canceled, and “non-essential” businesses were ordered to close their doors. The result? Millions of Americans lost their jobs and… Read More »
Can You File Bankruptcy if You’re Unemployed?
If you’re unemployed and having a hard time paying your monthly bills, you may be considering bankruptcy and reasonably so. But you may also be wondering if you can file for bankruptcy when you’re unemployed. Will unemployment be a problem? It depends on the type of bankruptcy you’re interested in. Generally, if you file… Read More »
Can Child Support Be Discharged in Bankruptcy?
“Sometimes it’s difficult to collect past-due child support, especially when those amounts reach into the tens of thousands of dollars. The average amount owed among noncustodial parents with child support debt is more than $21,000,” according to the Office of Child Support Enforcement. If you can relate to the above paragraph because you too… Read More »
AAF Declares Chapter 7 Bankruptcy
The Alliance of American Football (AAF) is an eight-team league that began this year in order to compete with the National Football League (NFL) for the viewership of football fans throughout the United States. Unfortunately, after just eight games into its first season, the league filed for Chapter 7 bankruptcy on April 17, 2019,… Read More »
Can Rental Debt Be Discharged in Bankruptcy?
Are you behind on the payments on your rental property? Are you thinking of filing for bankruptcy to obtain relief from your debts? In this blog, we explain if rental debt can be discharged through bankruptcy. Rental Debt & Chapter 13 Bankruptcy If you file for Chapter 13 bankruptcy, you will have two options… Read More »
5 Types of Bankruptcy
If you are considering bankruptcy, you are probably wondering how to get started and what kind of options are available for you. In this blog, we explain 5 different types of bankruptcies to help you determine which option is right for you. Chapter 7 Bankruptcy Sometimes called “liquidation,” “straight bankruptcy,” or “complete bankruptcy,” Chapter… Read More »
Is Filing for Bankruptcy More Than Once in Your Life Allowed?
When debts become too great and there is little hope of paying them off, many people and businesses will turn to bankruptcy for a sound legal solution to the problem. For individuals, Chapter 7 and Chapter 13 are the two most commonly used forms of bankruptcy, with the former attempting to completely eliminate as… Read More »
When Should I File for Bankruptcy?
For many people, bankruptcy offers debt relief and a fresh start to your finances. However, filing for bankruptcy depends on a variety of factors and your individual circumstances. It is imperative to thoroughly review all of your options before making a decision to file. Prior to filing your case, consider the types of debt… Read More »
Chapter 7 vs Chapter 13: The Pros and Cons
Once you have made the decision to file for bankruptcy, you will be faced with the decision of choosing which type of bankruptcy best suits your set of circumstances and will offer you the most effective form of financial relief. The two most common forms of bankruptcy are Chapter 7 and Chapter 13 bankruptcies,… Read More »
Does Bankruptcy Wipe Out All My Debt?
Bankruptcy can eliminate some debt, but it cannot eliminate all types of debt and wipe the slate clean. Before making a decision regarding whether or not you should file for bankruptcy, it is important to understand which debts will be erased and which will not. Generally, you can rid yourself of credit card debt… Read More »
