What To Know About How Bankruptcy Will Impact An Existing Court Judgment

Are you considering bankruptcy as a way to get yourself out of debt, but you also have a court judgment against you that needs to be paid? You're likely wondering if the bankruptcy will wipe out that judgment as well. The answer depends on your specific legal situation, which is why it's important to know the following things about bankruptcy and court judgments.  A Bankruptcy Filing Will Not Make A Judgment Debt Automatically Go Away [Read More]

Don't Forget These Two Steps When Preparing to File Chapter 7 Bankruptcy

Chapter 7 bankruptcy can provide freedom from oppressive debt. However, to avoid falling into financial trouble again, you need to make adequate preparations. Here are two things people often forget to do when filing for Chapter 7 bankruptcy. Budget for Ongoing Payments When people file for bankruptcy, an automatic stay prohibits creditors from trying to collect on the debts owed for the duration of the case. The problem is people don't realize that only applies to consumer debt and balances due at the time they filed bankruptcy. [Read More]

Six Differences Between Chapter 7 And Chapter 13 Bankruptcy

Are you looking into bankruptcy, but feeling a bit confused about the differences between Chapter 7 and Chapter 13? Here is what you need to know about these two forms of bankruptcy. Who's Eligible? The main thing to be aware of is who is eligible for each form of bankruptcy. Chapter 13 bankruptcy is for individuals seeking relief from debts. Whereas, Chapter 7 can be for both individuals and businesses who are seeking help. [Read More]

3 Benefits Of Working With An Attorney When Facing Bankruptcy

There may be a time when you find yourself in so much debt that you can't get out of a financial hole. In this instance, bankruptcy may be appropriate. If you're facing this situation, consult with a bankruptcy attorney. They can help you tackle this process in the following ways.  Assess Your Financial Situation Sometimes filing for bankruptcy isn't always the solution to dealing with a lot of debt. In some cases, you may be able to pay back this debt by budgeting and putting leftover money towards these expenses. [Read More]