Will Chapter 7 Wipe Out All of My Debt?

If you’re dealing with crushing debt and you feel you’re running out of options, you may be considering filing a Chapter 7 bankruptcy. While Chapter 7 bankruptcy can be an ideal option for many debtors, it’s not the right solution for everyone. Is Chapter 7 bankruptcy right for you? The right...

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When Does Bankruptcy Make Sense for Seniors?

With the cost of living increases, inflation, and rising healthcare costs, it’s no wonder why some senior citizens file for bankruptcy relief. If you’re a senior citizen who is considering filing a Chapter 7 or Chapter 13 bankruptcy, you will have some unique factors to consider, which don’t...

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Chapter 7 or 13 Bankruptcy? Which One is Right for Me?

You’re sitting at the kitchen table going over all of the bills you have to pay. As you look at the due dates and compare them to the balance in your checking account, they don’t add up. In fact, you’re wondering how you’re going to cover your minimum payments on your credit cards. You may even be...

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How to Save for Christmas Early

Now that it’s December, we’re deep in the middle of the holiday season and as bankruptcy attorneys, we can’t help but think about the number of debtors who will be putting Christmas gifts on credit cards because they don’t have the extra cash laying around to afford a “nice Christmas.” Christmas...

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How Long Does Negative Information Stay on Credit Reports?

As a child, you probably didn’t put much thought into your future credit score, if any at all. But when you turned 18, all that probably changed. Suddenly, you’re shopping out auto loans, considering getting your first credit card, and hunting for an apartment or house to rent. Sure, you could...

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How Long Does it Take to Rebuild Credit After Bankruptcy?

There is a stigma surrounding bankruptcy, but much of it is undeserved; bankruptcy was created by our government for good reason, but debtors have a hard time seeing the value in it, at least at first. Often, when people are swimming in debt, they’ll delay bankruptcy for months if not years in an...

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Should I Get a Secured Credit Card After Bankruptcy?

After a bankruptcy, it’s not only a good idea to get a credit card to start rebuilding your credit, it’s absolutely necessary. Unless you start rebuilding your credit, it will be difficult, if not costly, to obtain auto loans, rent an apartment or house, or eventually get a mortgage. When you...

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Bankruptcy: What is the Homestead Exemption?

When debtors consider filing for bankruptcy, it’s not uncommon for them to ask the following questions: “Will I lose my wedding rings? Will I lose my home?” Filing for bankruptcy does not mean everything you own has to be liquidated to pay off your creditors – this is a misconception. Do you have...

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What is Foreclosure?

“What is foreclosure?” is a question a lot of people have, especially if they’re a new homeowner or have never heard of foreclosure before. When a homeowner fails to pay their mortgage, the negative effect is foreclosure. When a renter fails to pay their rent or lease, they’re evicted. Since they...

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How to Improve Your Credit Score

There are many ways someone’s credit can end up in rough shape. While the main reason is spending habits, that’s not always the case. If you lose your job, or if you’re injured in an accident, or if you have no health insurance and accumulate hefty medical bills, your credit can take a hit. If you...

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When Chapter 13 is Better Than a Chapter 7

A lot of people believe that between a Chapter 7and a Chapter 13 bankruptcy, Chapter 7 is better of the two. They feel this way because with Chapter 7, often a debtor can wipe out or erase all of their qualifying debts without having to pay any money back. In contrast, Chapter 13 involves a 3 to...

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Chapter 7 No-Asset Bankruptcies

Chapter 7 bankruptcy is commonly known as the “liquidation bankruptcy” because a bankruptcy trustee can sell (liquidate) some of a debtor’s property to pay creditors. This may occur when the debtor has extra assets, such as a vacation home, an extra automobile they don’t need, or other assets that...

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