Where is the Bankruptcy Court?

Where is the Bankruptcy Court?

Bankruptcy falls under Federal law instead of the state you live in. So you will go to the federal court in your district. The federal court system is divided into judicial districts there will be at least one judicial district is in each state. You can file in whichever district: where you live and maintain  … Read more

  Filed under: Filing bankruptcy


Property in a Bankruptcy

Property in a Bankruptcy

Consumers that file bankruptcy are allowed by law to keep a certain amount of their property while going through the bankruptcy process. Both the state and federal exemptions allow some property to be exempt no matter what the value is. Most states allow you to keep your furniture, clothing, and wedding rings. In Texas and  … Read more

  Filed under: bankruptcy


Living Expenses in Bankruptcy

Living Expenses in Bankruptcy

When determining what your basic living expenses are in bankruptcy, you will list your expenses plus any dependent expenses you incur on a form to be submitted to the court. Rent or mortgage payment Utilities Gas Heating fuel Electricity Tv Cell phone Internet Home maintenance Food Clothing Laundry and dry cleaning Medical and dental expenses  … Read more

  Filed under: Filing bankruptcy


Types of Debt in Bankruptcy

Types of Debt in Bankruptcy

Classifying your debt to determine what category they fall into will help you, and your bankruptcy lawyer determine which type of bankruptcy will suit your needs the best. Secured Debt Secured debt is tied to a specific property. If you have a mortgage, the house will be the collateral. Your car will be the collateral  … Read more

  Filed under: Debt


Vehicle Repossession and Bankruptcy

Vehicle Repossession and Bankruptcy

For most of us in the united states, we need a reliable vehicle to get to and from our jobs, schools, and grocery stores. A car payment is one of the most common loans in the united states. The loan is often secured by the vehicle itself. If you get behind in your payments, they  … Read more

  Filed under: Automobile


Foreclosure Process and Bankruptcy

Foreclosure Process and Bankruptcy

A mortgage lender can use a process called foreclosure to take a property from a homeowner that defaults on the loan. The foreclosure process can take anywhere from one to seven months, depending on the state you live in. By filing bankruptcy, all legal actions against you, including foreclosures will be stopped. Friendly Reminders A  … Read more

  Filed under: Foreclosure


Fair Credit Reporting Act and Bankruptcy

Fair Credit Reporting Act and Bankruptcy

Your credit rating takes a hit every time you are late or miss payments. These marks stay on your credit report for up to seven years in some cases. If you are hopelessly behind in your payments, you can file bankruptcy, which will stay on your credit report for up to ten years. The significant  … Read more

  Filed under: bankruptcy


Reasons to Choose Chapter 7 Bankruptcy

Reasons to Choose Chapter 7 Bankruptcy

If you are behind in your debt and are getting phone calls and letters from your creditors demanding payments and threatening to take you to court, you may want to consider bankruptcy to eliminate your debt and get a fresh start. Fast and Effective Chapter 7 bankruptcy is easy to file, fast, and an effective  … Read more

  Filed under: Chapter 7


Debt Consolidation Loans

Debt Consolidation Loans

Debt consolidation loans are intended to lump all of your debts together into one low payment. To get these loans, many are taken as a loan secured by your home or other assets. You may get a better rate with a consolidation loan than with high-interest loans and credit cards. Benefits Another benefit is the  … Read more

  Filed under: Debt