by Jim Arnold | Dec 16, 2009 | Bankruptcy
Sometimes it makes sense to file for Chapter 13 bankruptcy instead of Chapter 7 bankruptcy. Many debtors choose not to file for Chapter 13 bankruptcy because it requires repayment of at least a portion of their debts (unlike Chapter 7 bankruptcy, which wipes out many...
by Jim Arnold | Dec 16, 2009 | Bankruptcy
The basic steps involved in a typical Chapter 13 bankruptcy case. Chapter 13 bankruptcy, sometimes called reorganization bankruptcy, is quite different from Chapter 7 bankruptcy. In a Chapter 7 bankruptcy, most of your debts are wiped out; in exchange, you must...
by Jim Arnold | Dec 16, 2009 | Bankruptcy
A means test calculator can determine whether you qualify for Chapter 7 bankruptcy — try one online. The “means test” is a formula designed to keep filers with higher incomes from filing for Chapter 7 bankruptcy. Only bankruptcy filers with primarily...
by Jim Arnold | Dec 16, 2009 | Bankruptcy
The bankruptcy “means test” and other Chapter 7 eligibility rules. Filing for Chapter 7 bankruptcy can be a powerful tool for dealing with overwhelming debt. But it isn’t available to everyone. There are several situations in which you won’t be...
by Jim Arnold | Dec 16, 2009 | Bankruptcy
Most taxes can’t be eliminated in bankruptcy, but some can. You may hear radio commercials offering the hope of eliminating tax debts in bankruptcy. But it’s not as simple as it sounds. Most tax debts can’t be wiped out in bankruptcy —...
by Jim Arnold | Dec 16, 2009 | Bankruptcy
After you file for bankruptcy, the automatic stay offers potent legal protection against bill collectors. When you file for bankruptcy, something called the automatic stay immediately stops any lawsuit filed against you and most actions against your property by a...
