As a married individual you can choose to file bankruptcy on your own without your spouse. It is a common question asked upon married individuals since you can file a joint petition with your spouse, but you don't have to. In some cases, it may be better for you to file without your spouse if [...]
If you plan on filing for bankruptcy protection you'll need to review qualifications and requirements in order to obtain a successful discharge. This includes getting credit counseling with an approved government organization within 180 days of filing your petition. A debtor education course is also required for debt discharge approval. It is important to consult [...]
Joint Property and Bankruptcy If you are considering bankruptcy protection as a married individual you may have concerns about joint property and whether or not it can be protected from creditors. The outcome of your case may depend on the chapter you file, the state you live in, if you file on your own or [...]
Bankruptcy Options for Small Businesses If you are a small business owner struggling to pay debt obligations you may be considering bankruptcy as an option. There are different bankruptcy filings to consider that are based on how your business is organized. It helps to get a better understanding of each bankruptcy option before making the [...]
Bankruptcy and Accident Insurance Proceeds If you received proceeds due to an accident you were involved in, there are issues to consider that can affect their protection eligibility in a chapter 7 bankruptcy. Depending on when the accident took place and why the proceeds were paid, bankruptcy exemptions may protect proceeds from creditors. An issue [...]
The film industry's annual ticket sales have declined almost every year since 2002 but gross annual revenue has doubled. If fewer people are going to the movies, how is the industry avoiding bankruptcy?
Bankruptcy is known for helping people gain a fresh start. A new year's resolution many consumers make includes getting out of debt. Even if you don't believe in making resolutions you may see getting out of debt as one your financial goals you want to achieve in the new year. Many review their options for [...]
Discharging Debt in Bankruptcy Whether you file Chapter 7 or Chapter 13 bankruptcy , the general goal is to regain control of your finances and get out of debt. Chapter 7 bankruptcy is known for discharging or eliminating debt while Chapter 13 helps reorganize debt with a payment schedule. Certain debts in Chapter 13 may [...]
When you file bankruptcy you are required to report monthly income, usually for the last 6 months leading up to the filing. This is used to help debtors complete the Means Test which determines eligibility for Chapter 7 bankruptcy while reviewing expenses, debt and household size. In some cases, monthly income may allow a debtor [...]
Consumers interested in filing bankruptcy may come across myths and misconceptions that cause confusion. For instance, some are under the impression that as soon as they file bankruptcy they must surrender their assets. This isn't true and it's not often the case. If you have a motorcycle it is likely you'll be able to keep [...]