Chapter 13 Bankruptcy 101
Welcome to the Chapter 13 Bankruptcy 101 guide.
This guide will give you non-legal information regarding Chapter 13 bankruptcy. The purpose of this information is to help you understand what a Chapter 13 bankruptcy is… more»
Who Is Eligible For Chapter 13 Bankruptcy?
There are two main requirements for an individual to qualify for a Chapter 13 bankruptcy. The first is that they must have a regular income. The second is their debt level must be… more»
Chapter 13 Terms and Definitions
A correct understanding of bankruptcy terms and their definitions is mandatory for making knowledgeable decisions regarding debt and bankruptcy. Following is a list of common terms in easy to understand language.
Asset: Anything that… more»
Chapter 13 Exemptions
Exempt property is property removed from the estate and is not available to pay creditors. The statutory list of exemptions that are available will guide you in selecting the property you want to have… more»
Chapter 13 Statute Changes
In 2004 more than 1.6 million people filed bankruptcy in the United States. This was a 600% rise from 1978 when bankruptcy laws became less stringent. Because of the rise in bankruptcy some… more»
Chapter 13 Bankruptcy - Trustee’s Role
In a Chapter 13 bankruptcy, the trustee’s role is to manage the debtors affairs in such a way as to support the total payment of credit debt. It is the trustee’s role to be… more»
Discharging a Bankruptcy
Discharging A Bankruptcy
The discharge procedure is complex. This is a part of the Chapter 13 procedure that acquiring competent legal counsel that is up-to-date on the recent major changes is imperative. Due to… more»
Chapter 13 Bankruptcy Overview
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is designed for individuals with an income to be able to develop a plan to repay all or part of their debts. The law forbids creditors from all collection activity… more»
foreclosure vs bankruptcy
Does declaring bankruptcy when you fall delinquent with mortgage payments help iron out the situation? The answer is, it depends, but it could do!
There are two types of bankruptcy routes that can be explored.
Chapter 13… more»
Finding a Good Bankruptcy Lawyer
OK you are considering filing for Bankruptcy. You will need a good attorney specialized in this rather complex field. How do you find one? The best way to find any professional is to get a… more»
How to go Bankrupt
Going bankrupt is an option if your debt burden has reached crisis proportion and your stress levels are too high. There is no disgrace in bankruptcy. It simply rescues you from an impossible situation, but… more»
Buy Now Pay Later Mentality
Buying now with the intention to pay later has created devastating problems for many individuals. The current financial crisis in the U.S. can’t be totally blamed on lenders. Part of the problem is many consumers… more»
An Introduction to Bankruptcy
Bankruptcy is a legal process that provides debt relief to consumers and companies who can not pay their debt. Bankruptcy Code was enacted by Congress in 1978 and has been amended several times since then… more»
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is sometimes called straight bankruptcy or liquidation. Individuals are allowed to keep certain property classified as exempt. Usually this includes your home, an automobile for work purposes, personal belongings such as clothes… more»
Chapter 13 Bankruptcy
Chapter 13 is sometimes referred to as the “Wage Earner” plan. Individuals with regular income propose a plan to repay part or all of their debts over a three to five year period. Approval is… more»
Chapter 9 Bankruptcy
Chapter 9 bankruptcy allows a financially distressed municipality to negotiate and develop a plan for repaying its debts. This is usually done by extending debt maturities, reducing the amount of principal or interest or by… more»
Chapter 12 Bankruptcy
Chapter 12 bankruptcy was designed specifically for the family farmer and family fishermen. It allows financially distressed individuals within these occupations to create a repayment plan. They must have regular and verifiable income though the… more»
Chapter 11 Bankruptcy
Chapter 11 bankruptcy allows partnerships and corporations to restructure their debt over a longer time period. In doing this the business is able to remain open. Kmart is an example of a corporation that filed… more»
Chapter 15 Bankruptcy
The purpose of Chapter 15 is to provide a mechanism for dealing with insolvency cases involving debtors, assets, claimants and other parties when more than one country is involved. It’s a new addition to the… more»
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