What's Happening? Understanding The Bankruptcy Process
7 November 2017
One of the best parts of a chapter 7 bankruptcy plan is the reliability of the process and the relative expediency of it all. Unlike a chapter 13 bankruptcy filing, which is really more of a debt reorganization plan, a chapter 7 filing could be completely done in as little as a few months. For a heads up on how the process works in most cases, read on.
1. Get your paperwork together: Your bankruptcy attorney will need a lot of documentation from you, so get ready to rifle through your files and compile some information.
Tips For Dealing With Creditors During Your Bankruptcy
13 September 2017
Have you been dealing with unsettling communication from creditors asking for their money? Bankruptcy is one way you can stop this from happening, but it doesn't happen instantly. It is important to know how to deal with creditors during the entire bankruptcy process.
You might have started the bankruptcy process by hiring an attorney but have not yet filed the official paperwork for bankruptcy. This phase is known as pre-filing, and creditors are still allowed to reach out to you about collecting the debt that you owe until you file.
The Burden Of Medical Debts: How Chapter 7 Or 13 Bankruptcy May Help Relieve You Of Your Debts
5 May 2015
A common misconception is that poor spending habits and maxed out credit card bills are the biggest cause of bankruptcy in the U.S. Unfortunately, the truth is much more sobering. Studies have shown that medical bills are actually the most common cause of bankruptcy in the U.S. with over 2 million Americans affected in 2013 alone. The cost for medical care in the U.S. is notorious for being expensive, and at times unaffordable, with an ambulance ride of only 200 feet costing as much as $3,421.
4 Things You Should Do Before Filing Bankruptcy
9 April 2015
Filing for bankruptcy requires careful planning. And believe it or not, decisions you make and actions you take right beforehand could impact your case. To ensure you give yourself the best possible chance for a good outcome, here are four things you must do before making a final decision.
Take the Means Test
Federal laws work to not only protect you but also to prevent those who make a lot of money from filing bankruptcy.