Chapter 7 Bankruptcy
This is the most common type of bankruptcy and is available to individuals, corporations and partnerships.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a debt repayment plan that protects the debtor from collection action during the plan.
Here Is Some Info About
Qualifying for Bankruptcy
Learn about Chapter 7 “means test” and Chapter 13 applicable requirements for bankruptcy qualification
Know what federal bankruptcy laws say about the negative consequences creditors have spread about bankruptcy filing.
Mortgages and Foreclosures
Filing bankruptcy results in an “automatic stay” that stops any foreclosure on the debtor’s home.
Here are the options the debtor has in regards of automobile loans when filing a Chapter 7 or Chapter 13 bankruptcy.
Credit Card Debts
Credit card debt may be non-dischargeable in bankruptcy under either of two legal theories.
Educational or Student Loans
Student loans are not discharged unless the bankruptcy judge determines otherwise.
Taxes and Disputes
State or federal income taxes can be completely discharged or forgiven in a bankruptcy proceeding.
Debtors are required to consult with an approved counseling agency as to their bankruptcy options.
Prior to obtaining a final discharge in a bankruptcy proceeding the debtor must complete an approved instructional course in personal financial management.