Important Bankruptcy FAQ’s Answered

Bankruptcy is often given a pretty bad reputation. Many people want to avoid it at all costs because of the negative stigma that is associated with filing for bankruptcy. Others simply do not understand exactly what is involved. We would like to educate you on exactly what bankruptcy entails and why it has helped so many individuals. What is Bankruptcy? Bankruptcy is a legal proceeding initiated ...

What Is an Automatic Stay in Bankruptcy?

When a bankruptcy case is filed, the filer and their property become protected by an “automatic stay.” That term sounds good, but not many people know exactly what it means. The “automatic stay” is like an injunction that immediately stops all creditor collection activities including foreclosures, repossessions and garnishments. However, the automatic stay is an important benefit of the bankruptcy ...

Why Should I Consider Chapter 7?

We all hit hard times. No one is exempt from the effects of unemployment, illness, business failure, divorce or other calamities that cause people to get behind on paying their debts. Sometimes it is impossible to pick yourself back up after these hard times without a little assistance. For these and other reasons, many individuals facing insurmountable debt seek the assistance of bankruptcy. The ...

Chapter 7 or Chapter 13: Which One Should I File?

Making the decision to seek relief under bankruptcy is tough enough. But once someone decides to file, they have another important decision to make. What type of bankruptcy should be pursued? The two are not the same and each has its own benefits and limitations. How Chapter 7 Works Chapter 7 bankruptcy is also known as liquidation bankruptcy. Chapter 7 will discharge most unsecured debts such as ...