Can I file bankruptcy with no-assets? If you’re considering bankruptcy, one of the first steps you have to take is choosing among the various types of bankruptcy presented in the bankruptcy code. Generally, people who want to file personal bankruptcy do so under either Chapter 7 or Chapter 13. If you want a quick [...]
West Virginia Bankruptcy Basics There is a myth that many credit card companies perpetuate that only people who overspend go bankrupt. This simply isn’t true. Many people who don’t misuse their credit cards have filed for bankruptcy with a United States bankruptcy court. Bankruptcy lawyers will tell you that many of their clients were [...]
Are your financial problems driving you to seek the bankruptcy protection that bankrupt filers get? The automatic stay that is put in place upon a bankruptcy filing is an injunction that stops collection agencies and creditors in their debt collection efforts. The bankruptcy process is supposed to help you get out of debt, but [...]
If you’re suffering from financial distress, you can find relief from the automatic stay offered as bankruptcy protection to debtors who filed for bankruptcy. While declaring bankruptcy is usually the last resort, it may just be the ticket to get you out of debt. It’s best to consult a bankruptcy lawyer for guidance on [...]
For those considering personal bankruptcy as the solution to their financial problems, they must choose to file for bankruptcy under either Bankruptcy Chapter 7 or 13. Both types of bankruptcy allow filers to exempt certain assets from bankruptcy proceedings. Exempted assets are not sold to a creditor to pay off a debt. Different types [...]
The “automatic stay” is an injunction triggered by filing one of the following types of bankruptcy: Chapter 7, Chapter 11, and Chapter 13. With it in place, debtors are protected from further debt collection activities from creditors and collection agencies. With an automatic stay, these entities must stop all collection efforts right away. Those [...]
Bankruptcy can temporarily blemish your credit report, but it does give you a fresh start as well. If you’re unable to pay your debts because of serious financial distress, start thinking about filing for bankruptcy. To make an informed decision, consult a bankruptcy attorney for legal advice on your situation. The Right Bankruptcy Chapter [...]
Why Hire a Bankruptcy Attorney Bankruptcy cases come in different kinds, circumstances, and degrees of complexity. While it’s advisable that you go through bankruptcy aided by the legal services of an experienced bankruptcy attorney, it’s not required. Take note, however, that with certain assets of value, filings under Bankruptcy Chapter 13, cases involving fraud, [...]
Debtors usually file for bankruptcy voluntarily, but bankruptcy laws do allow creditors to force a debtor to declare bankruptcy by filing a petition for bankruptcy themselves. This is called involuntary bankruptcy. An involuntary bankruptcy petition is more often filed on behalf of business debtors, although an individual debtor of means may also be targeted. [...]
First and foremost, most taxes cannot be discharged in bankruptcy. You may have been given false hopes by advertisements that offer a way to wipe out tax debts in bankruptcy. However, it is more complicated than perceived to be. Most tax debts can’t be eliminated in bankruptcy -- the fact is, you are still [...]