3 Situations Where A Creditor May Object To Your Bankruptcy Filing

A meeting of creditors will be held if you are filing for a Chapter 7 bankruptcy, which is when your creditors have the right to object to your bankruptcy filing. Here are a few situations where a creditor may argue that their debt should not be discharged.  You Used Your Credit Card After You've Become Insolvent  If you have decided to file for bankruptcy, there will likely be a point where you realized that you would be unable to pay back your debts and go through the legal process to discharge your debt. [Read More]

The Potential Outcomes Of A Bankruptcy Filing

Are you planning to file for Chapter 13 bankruptcy in the near future but are unsure of what can potentially happen as a result? Chapter 13 bankruptcy is a reorganization of your debts, and it helps stop creditors from coming after you while you figure things out. Here are three of the potential outcomes that can happen after filing. Dismissal It's possible that your bankruptcy filing never makes it to the very end because you or another person files a motion to have the bankruptcy dismissed. [Read More]

What To Know About How Bankruptcy Will Impact An Existing Court Judgment

Are you considering bankruptcy as a way to get yourself out of debt, but you also have a court judgment against you that needs to be paid? You're likely wondering if the bankruptcy will wipe out that judgment as well. The answer depends on your specific legal situation, which is why it's important to know the following things about bankruptcy and court judgments.  A Bankruptcy Filing Will Not Make A Judgment Debt Automatically Go Away [Read More]

Don't Forget These Two Steps When Preparing to File Chapter 7 Bankruptcy

Chapter 7 bankruptcy can provide freedom from oppressive debt. However, to avoid falling into financial trouble again, you need to make adequate preparations. Here are two things people often forget to do when filing for Chapter 7 bankruptcy. Budget for Ongoing Payments When people file for bankruptcy, an automatic stay prohibits creditors from trying to collect on the debts owed for the duration of the case. The problem is people don't realize that only applies to consumer debt and balances due at the time they filed bankruptcy. [Read More]