Debtors overwhelmed with credit card debt may look to file bankruptcy to help them get a fresh start. While there are qualifications to being eligible to file there is also the possibility of a credit card company protesting or blocking your petition. The chances are relatively small and there are measures you can to reduce [...]

Reasons for Bankruptcy Dismissal Debts are eliminated if they are discharged in a bankruptcy but in a dismissal debts will not be eliminated. A dismissal of bankruptcy occurs when the case is terminated by a federal judge and there are several reasons why this action may happen. The most common reasons for bankruptcy dismissal are listed below: [...]

What is the Means Test? The means test helps in determining eligibility for Chapter 7 bankruptcy by reviewing personal income. Chapter 7 has specific income requirements that must be met in order to file. If you are determined to be in a higher income bracket, you'll likely be eligible to file Chapter 13 bankruptcy . [...]

To many consumers, this may be an odd question since the overall purpose of bankruptcy is to eliminate debt. While many debtors often include credit card accounts they are unable to pay, some may have a credit card account that is in good standing.  A debtor may feel that the account in good standing may [...]

Debtors looking to seek bankruptcy protection often are unable to make debt payments or want to have their debt reorganized so that it is easier pay on what is owed. Bankruptcy can help debtors deal with their finances but certain financial decisions made before filing may make your case more challenging and even decrease chances [...]

If you are being sued bankruptcy may be an option to consider.  Chapter 7 bankruptcy allows for qualifying debt to be discharged while Chapter 13 bankruptcy restructures debt. A discharge means the debtor will not be obligated to pay toward the judgment. Many debtors have been able to get judgments discharged but it often depends on [...]

There's no denying that each individual will need to approach the issue of personal bankruptcy in his or her own unique way. However, with that being said, most individuals express the same concerns when filing for Chapter 7 or Chapter 13 bankruptcy . They worry that they'll end up losing their homes, or they're concerned [...]

For some reason, many people have different ideas about what types of debts are eliminated in a bankruptcy. Ask any one of your friends or family members, and you'll experience a myriad of opinions. Some will insist that you'll lose your house to bankruptcy, while others are convinced that all debts - even tax debts [...]

For some reason, bankruptcy has earned a tarnished reputation; as a result, many people fear getting the debt relief they need by filing for a Chapter 7 or Chapter 13 bankruptcy . They continue to throw their hard-earned money at mountains of debt, despite the fact that the mountain isn't getting any smaller. They think [...]

Why You Need Credit Counseling After Bankruptcy By now, you probably have heard that the new bankruptcy laws enacted in 2005 require all petitioners to undergo credit counseling for a bankruptcy to be successful. While you're certainly not opposed to undergoing credit counseling, you may wonder why such an emphasis is placed on this requirement. [...]