For a lot of debtors, the hardest part of filing for bankruptcy is arriving at the decision to do so. When the debtor realizes that it’s going to be too difficult, if not impossible to catch up with all of their payments, penalties, and interest, they finally throw in the towel and decide that...

If you decide to file Chapter 7 or Chapter 13 bankruptcy, some of your debts will be classified as “priority debts” while others will be classified as “nonpriority debts.” Which group a debt is categorized into will affect how the debt is treated in bankruptcy. In other words, the “priority debts”...

When you file bankruptcy, you will have to list all of your creditor claims in your bankruptcy paperwork. As you start your Chapter 7 or Chapter 13 bankruptcy case, you will have to separately list your secured creditor claims and your unsecured claims. Not everyone understands the difference...

Have you fallen behind on your child support payments? Do you now owe thousands of dollars and you’re not sure how you’ll ever get caught up? Since child support debt is not retroactive, meaning the court cannot go back and reduce what a parent owes, it can be quite stressful for noncustodial...

A Chapter 7 bankruptcy cannot save a home from foreclosure, but a Chapter 13 can. In fact, one of the reasons why people choose to file a Chapter 13 over a Chapter 7 is to do just that, especially when there is equity in the home and it’s a valuable asset. What happens to your mortgage if you do...

If you’re currently in a lot of debt and you can’t see any way out, filing for bankruptcy may be the most powerful and effective tool at your disposal. Bankruptcy stops most creditors dead in their tracks. It can stop the collection calls and letters and it can stop most debt collection actions,...