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What is a Chapter 7? What is a Chapter 11? What is a Chapter 12? What is a Chapter 13? What is a Chapter 7? Chapter 7 is the most popular type of bankruptcy. In a Chapter 7 bankruptcy, you must fully disclose your property, debts and financial activities over the several years prior to […]

What Happens to my Credit Cards when I File Bankruptcy? The quick answer is that it depends. It depends on the status of your accounts. Your credit cards likely fall into one of these three categories: Cards on which you have a zero balance On the bankruptcy petition and schedules you must list all of […]

Why Do I Have to Take a Pre-Filing Bankruptcy Class and a Pre-Discharge Class? Why do I have to complete a pre-filing class? Before your bankruptcy can be filed, you must complete a credit counseling session. The cost ranges from $10.95-$50.00. The agency provides a certificate of completion that must be filed with the bankruptcy […]

Debts that Survive a Chapter 13 Bankruptcy There are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion […]

Debts that Survive a Chapter 7 Bankruptcy There are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion […]

How Will the Bankruptcy Affect Me? I am Filing Bankruptcy: Will I Lose My Job? No employer may fire you because you filed bankruptcy. In addition, an employer cannot discriminate against you in other terms and conditions of employment; reducing salary, demoting you, or taking away responsibilities because of a bankruptcy. However, if there are […]

Are Taxes Dischargeable Through Bankruptcy?   Some taxes are dischargeable through bankruptcy, but some are not eligible for discharge due to the year the taxes are due and the timeliness of filing the taxes.  If income taxes are more than three years old, they usually can be discharged.  The three year time period is based […]

Can Debtors be Arrested for Not Paying Their Debts?   Many debtors/clients inquire whether they can be arrested if they are unable to make payments on their debts.  Creditors sometimes threaten to come to their home and arrest them if they are unable to make their payments, even if they inform the creditor of their […]

A Chapter 13 Bankruptcy can last anywhere fromm 36 to 60 months.  Three to five years is a considerable amount of time and a lot of things can change.  There are a number of issues that may affect your bankruptcy.  Some of the most common changes that need to be addressed are: 1. Change in […]

When filing for bankruptcy a petition must be filed.  If the debtor has an attorney the attorney generally fills out the petition based on information provided by the client.  The attorney will then meet with the client to have the individual(s) review and sign the petition.  While the attorney does fill this out, the debtor(s) […]