When you struggle with the burden of debt, you may wonder whether the bankruptcy process could benefit you. Exploring the benefits of Chapter 7 bankruptcy can help you determine whether this process is the right way to achieve debt relief in your situation. Chapter 7...
Chapter 7 Bankruptcy
Can bankruptcy help me with my student loans?
Student loans and the burden they place on millions of Americans have been in the news lately as politicians and courts debate whether President Biden has the power to forgive them. Meanwhile, if you are considering Chapter 7 or Chapter 13 bankruptcy, you could be...
Everything you need to know before choosing Chapter 7 bankruptcy
If a debtor's income is sufficient, they probably will not be able to file for Chapter 7 bankruptcy. This is a method for people who are drowning in debt. These people might consider out-of-court options before they file for bankruptcy. However, when out-of-court...
Navigating the means test in Chapter 7 bankruptcy
Bankruptcy offers an escape route when debts become overwhelming. If you consider filing for Chapter 7 bankruptcy, you need to pass the "means test." This examination determines whether you qualify to have your debts wiped out or discharged. The means test is crucial...
Keeping your car during chapter 7 bankruptcy
The chapter 7 bankruptcy process is also known as liquidation bankruptcy. This means that you might sell — or liquidate — some of your property to settle your debts. Naturally, you might want to keep some of this property. One example is a car that helps you get...
Does filing bankruptcy discharge medical debts?
No one wants to consider the possibility of falling into debt. However, with medical costs as high as they are, it is possible that anyone with a health emergency could also enter into a financial emergency at the same time. Bankruptcy often feels like a scary point...
What is the difference between exempt and non-exempt assets in Chapter 7 bankruptcy?
If you are bracing for Chapter 7 bankruptcy in Texas, you may be wondering how the state classifies exempt and non-exempt assets. Understanding the difference between the two can help you better prepare yourself for bankruptcy proceedings. What do exempt and...
Can Chapter 7 bankruptcy release me from my timeshare?
If you are considering filing for Chapter 7 bankruptcy in east Texas and you own a timeshare, you may be wondering where the timeshare will end up in the mix. Timeshares are notoriously tough to relinquish, so it can be helpful to understand how this type of...
3 things to know before filing for Chapter 7 bankruptcy
If you have a low income and few assets and cannot pay your bills, you may consider filing Chapter 7 bankruptcy. Up to 63% of those who filed for bankruptcy in 2019 chose Chapter 7. Chapter 7 bankruptcy can result in the dismissal of any of your unsecured debts while...
4 steps to filing Chapter 7 bankruptcy
Chapter 7 bankruptcy may be a good option for you if you do not have enough money to pay off your debts. In theory, the idea behind Chapter 7 bankruptcy is the liquidation of your assets, i.e., selling them to pay off your debts. However, there are exemptions for...
