bankruptcy blog

People seeking bankruptcy protection often have a lot of questions. One of the most common questions is  what happens to car loans in bankruptcy.  Some fear they will lose their vehicle and not be able to get to work, making a dim financial situation much more difficult. Fortunately, there are a few different approaches to  … Read more

A discharge or dismissal are the two possible outcomes of a bankruptcy case. Your debts will be termed “discharged” when you successfully complete a bankruptcy case through liquidation or a Chapter 13 repayment plan. Your bankruptcy case will be dismissed if you do not complete it. A dismissal is when your case is closed without  … Read more

There are many reasons they prefer Chapter 7 bankruptcy to Chapter 13 bankruptcy. These reasons include the fact that most debts are immediately discharged after filing, the shorter filing period, and the simplicity of the process. To qualify for Chapter 7 bankruptcy, you must pass a means test, which considers your income, expenses, household size,  … Read more