Articles Posted in Bankruptcy

Chapter 13 bankruptcy solves a lot of problems that the other chapters of the Bankruptcy Code cannot. When you get into trouble with debt and are not able to pay your bills, consider seeking bankruptcy protection. As an individual consumer, there are several different kinds of bankruptcy that you can file. These types of bankruptcy…

If you are coping with foreclosure, bankruptcy could save your home. While bankruptcy might not just make your mortgage go away, if you want to keep your home, bankruptcy gives you options. Whether or not you’re facing foreclosure, bankruptcy could make your home both more affordable and more valuable. You have other options besides bankruptcy,…

Chapter 7 bankruptcy allows you to quickly and easily get out from under debts that are unmanageable and that you cannot pay back. When you get into trouble with debt and are not able to pay your bills, consider seeking bankruptcy protection. As an individual consumer, there are several different kinds of bankruptcy that you…

The two most common types of bankruptcy filed by individuals are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Both of these chapters of bankruptcy can resolve your debts. As a bankruptcy lawyer, I get asked all the time: what is the difference between Chapter 7 and Chapter 13 bankruptcy? Chapter 7 Bankruptcy Chapter 7 bankruptcy…

Garnishment (or “attachment”) is a last-ditch effort at debt collection, a tool of last resort for creditors. When you default on a debt, and the creditor is unsuccessful in recovering on the debt, a judgment may be issued against you to garnish property, bank accounts, or wages. Garnishment can often severely impact your monthly finances, and…

Most consumer debtors have two main bankruptcy chapters under the Bankruptcy Code: Chapter 13 and Chapter 7. There are, however, two other types of bankruptcy: Chapter 11 and Chapter 12. Here are the principal differences between the bankruptcy chapters. Chapter 7: Liquidation Chapter 7, also called straight bankruptcy, allows you to discharge most types of…

Bankruptcy will not kill your credit for 10 years. Many of the clients who come into my office think that. This common misperception is the result of an intense and extended propaganda campaign by institutional lenders and credit card companies. Obviously, your creditors want you to repay your debts, no matter what the personal cost to…

In most cases, the very last thing any person wants to do is to consider filing bankruptcy. In many cases, an average person will wait two years longer than he or she should have to file bankruptcy. Don’t rearrange the deck furniture on the Titanic. Instead, realize it may be time to jump ship. You may…

Most consumers must choose between between either Chapter 7 and Chapter 13 bankruptcy. If you have significant assets (like equity in your home) then you may want to file a Chapter 13 bankruptcy. In a Chapter 7 bankruptcy, those assets may be subject to to liquidation by the trustee. But even in a Chapter 13…

A creditor who has obtained a judgment against you can garnish a paycheck or bank account, or both. The creditor must file garnishment affidavit at your bank, at which point the bank will pay that creditor whatever amount is available in your account, up to the amount of the judgment. A creditor will drain your…