bankruptcy blog

There are rules and regulations pertaining to every chapter of the different forms of Houston bankruptcy. In the Chapter 7 bankruptcy normally the debtor has to comply with the means test in order to qualify for this form of bankruptcy. This does not occur in all cases however. There are circumstances where the means test  … Read more

The Chapter 7 bankruptcy is a legal process that you need to go through if you have decided that this is a course of action you want to take for your debt resolution. Once you have decided to do this then there are steps that you have to go through in order for the bankruptcy  … Read more

When it comes to filing for bankruptcy in the US it doesn’t matter whether it is a Chapter 7 or Chapter 13 bankruptcy, there are many forms that must be filled out for the bankruptcy procedure. It is most important that you know which forms you must complete and how to complete them so that  … Read more

Many individuals filing for bankruptcy assume that they can have a choice between either a Chapter 7 or Chapter 13 bankruptcy. Both of these have specific criteria that must be met in order to qualify. This determines which bankruptcy you will be eligible for. Chapter Considerations In a Chapter 7 bankruptcy it is usually a  … Read more

It doesn’t matter whether you are going for a Chapter 7 or Chapter 13 bankruptcy you will be assigned a bankruptcy trustee. As such this professional will need to be paid for their services. The payment rate is different according to the Chapter 7 or Chapter 13 bankruptcy. Trusting The Trustee Bankruptcy trustees in a  … Read more

When you file for bankruptcy you will be assigned a professional called a bankruptcy trustee. This individual makes all of the decisions concerning your bankruptcy. This is the person that decides who gets paid and who does not and what assets you are able to keep and those which will have to be sold. This  … Read more

One of the problems with bankruptcy is there is still a stigma attached to it. It is often perceived that if a person goes bankrupt that they either didn’t want to pay their bills, or they aren’t trustworthy with money. This is more thought of with personal bankruptcy compared to business bankruptcy. However, no matter  … Read more

Chapter 7 is often considered the bankruptcy action for personal bankruptcy. It is also applicable for small businesses that are either a sole proprietor or general partnership. In these forms of business you as the owner are personally responsible for the business debts, and that is why the chapter 7 bankruptcy is applicable. If it  … Read more

Your bankruptcy case will eventually come to a close. This means the bankruptcy court will close your case. This will happen if you have completed all of your bankruptcy responsibilities and you have received a bankruptcy discharge. Or it may happen that your file is closed because it was dismissed because you did not meet  … Read more

When you are at the stage with your finances where you feel you have no choice but to go bankrupt, it may seem to you that all your debt is the same. When you file for bankruptcy your debt is categorized. Some of it will be unsecured debt. This is debt where the creditor doesn’t  … Read more