bankruptcy blog

Debts are categorized in different ways in a chapter 7 bankruptcy. There are secured debts, unsecured debts, priority debts and general type debts. They each get treated differently. Medical debts are normally classed as a non priority general unsecured debt. If there is any money in the bankruptcy estate this type of debt would be  … Read more

There are some unsecured debts in a Chapter 7 bankruptcy that are considered to be important even though they are not secured. These debts will be the ones dealt with first when it comes to repayment. Payment would be made if the bankruptcy trustee has disbursed some of your property. Different Debts An example of  … Read more

Once you decide that bankruptcy is the action you want to take to get yourself back on your financial feet, you need to seriously consider hiring a Houston bankruptcy attorney. There are several questions that you should ask this legal professional before making your final decision as to whether this is the one you want  … Read more

Even though you are in a tough financial situation to the point where you have to declare bankruptcy you most likely do have some possessions. These are what you have been struggling to protect as your financial situation became uncontrollable. Now if you are going to end up losing these by going bankrupt what is  … Read more

It is not unusual at first for many people wanting to go bankrupt to discover that they don’t qualify for a Chapter 7 bankruptcy but instead have to go with the Chapter 13 bankruptcy relief. To them it is simply a payment plan that is going to put in place. If this is the case  … Read more

One of the main reasons individuals decide to go bankrupt is because they feel it is going to give them a fresh start and allow them to get back on their feet financially. It is stressful having surmounting debt, and it can be stressful going through a bankruptcy. Many people find that by using an  … Read more

You may think that you are at the mercy of the bankruptcy courts, and without the help of a good bankruptcy lawyer you basically are. The proof of claims have to be scrutinized on your behalf. They can be challenged on some inconsistencies or inaccuracies. This can be done by your lawyer on your behalf,  … Read more

As soon as your creditors get wind that you are filing for bankruptcy they will prepare what is called a proof of claim. This is a formal written statement that is given to the bankruptcy court, as well as you the debtor and your bankruptcy trustee. It will also be given to any other third  … Read more

You have to be aware that when you are filing for bankruptcy that you must declare all of your assets. Your inheritance is classed as an asset. If you know that you are going to be receiving some money through an inheritance, or if you receive money through a trust you must declare this. That  … Read more

Financial hardship can put a real strain on a relationship. This often isn’t relieved from the Chapter 13 bankruptcy as there are a lot of emotions tied in with bankruptcy. Sometimes couples are no longer able to stay together even though all the workings of the Chapter 13 Bankruptcy have been put in place. Now  … Read more