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,...

In the United States, if someone is in a lot of debt, they may have the opportunity to file a Chapter 7 or Chapter 13 bankruptcy. Bankruptcy is a great option for debtors who simply can’t afford to pay off their debts. Bankruptcy gives debtors a fresh start by discharging their unsecured debts or...

If you are experiencing crushing debt and you are now considering filing Chapter 7 bankruptcy, you’ll want to do your research before you make a decision. One aspect of your research should be weighing the pros and cons of filing a Chapter 7. If the pros outweigh the cons, it may be in your best...

Consumers typically file a Chapter 7 or a Chapter 13 bankruptcy, but for the purposes of this article, we’re going to examine Chapter 13 and its benefits. A Chapter 13 is often referred to as a “wage earner’s plan” because it’s suitable for people with regular incomes, especially those whose...