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Bankruptcy Info

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

Negative Consequences

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.

Automobile Loans

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.

Bankruptcy Counseling

Debtors are required to consult with an approved counseling agency as to their bankruptcy options.

Debtor Education

Prior to obtaining a final discharge in a bankruptcy proceeding the debtor must complete an approved instructional course in personal financial management.