Category:
Bankruptcy

A toy car next to a judge's gavel

When Do You Have to Surrender a Vehicle in Chapter 7 Bankruptcy?

By Bill Fay | December 14, 2023

For those seeking a fresh financial start, Chapter 7 bankruptcy has plenty of upsides. It’s the cleanest, most straightforward, least time-consuming, and least expensive of the various bankruptcy options. The…

Couple discussing bankruptcy together

How Bankruptcy Will Affect Your Spouse

By Bill Fay | December 6, 2023

When people get married, they often vow to take each other through thick and thin. Bankruptcy can get pretty thick for a husband and wife. Bankruptcy is when a person…

Document denying a chapter 7 bankruptcy

Can Chapter 7 Bankruptcy be Denied?

By Maureen Milliken | September 6, 2023

The “fresh start” that Chapter 7 bankruptcy promises people who have more debt than they can pay, is not guaranteed. Chapter 7 bankruptcy may be denied, possibly for reasons that…

Attorney discussing converting Chapter 13 to Chapter 7 with his client

Converting Chapter 13 to Chapter 7

By Bill Fay | August 23, 2023

Choosing to declare personal bankruptcy can be among the most difficult decisions ever to confront an individual. Tougher still: Having to pick, under unmatched duress, which type of bankruptcy best…

Chapter 13 trustee sitting at a desk across from someone declaring bankrutpcy

Chapter 13 Trustees

By Robert Shaw | July 14, 2023

A Chapter 13 bankruptcy filing is a debt reorganization plan that offers a path to solvency for people in financial crisis and something else almost as appreciated – a respite…

Judge discharging debt in bankruptcy

Bankruptcy Discharge

By Bill Fay | June 7, 2023

A bankruptcy discharge is the legal holy grail for anyone who files for bankruptcy. A discharge means there’s a court order in the bankrupt’s case that erases all qualifying debts.…

Judge discharging debt in a chapter 13 bankruptcy

Chapter 13 Bankruptcy Discharge

By Robert Shaw | May 25, 2023

The end game in filing Chapter 13 bankruptcy is a discharge order signed by a judge that releases the debtor of all qualifying debts and prohibits creditors from attempting to…

Bankruptcy trustee investigating a document with a magnifying glass

What Do Bankruptcy Trustees Look For?

By Maureen Milliken | April 29, 2023

A bankruptcy trustee oversees a bankruptcy filing and plays a major role in determining if a case goes forward. Trustees are appointed by the bankruptcy judge to look for assets…

Man walking into living room

What Happens to Your House in Chapter 13 Bankruptcy?

By Sarah Brady | March 15, 2023

You’ve probably heard that filing bankruptcy has major drawbacks, which it does. Filing can cause a significant drop in your credit scores and make it more difficult to get approved…

Man discussing with lawyer about debt limits for chapter 7 bankruptcy

How Much Debt Do You Have To Be In to File Chapter 7 Bankruptcy?

By Bill Fay | February 24, 2023

If you have so much debt that you’re considering filing a Chapter 7 bankruptcy, you have enough debt to qualify. The U.S. bankruptcy code doesn’t specify a minimum dollar amount…