How To Restructure Debts Under Chapter 13

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Chapter 13 bankruptcy law exists to give people an opportunity to get their financial lives back on track. Restructuring is the name of the game and that’s much different than you’ll see in a Chapter 7 liquidation where most assets get sold. A Chapter 13 bankruptcy often allows you to keep most or even all of your assets as long as you comply with an accepted payment schedule. For that reason, though, there are several things you need to know before you decide to restructure your debt obligations under the law.…

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3 Mistakes To Avoid When Filing Bankruptcy

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When you file for bankruptcy, it’s a very big deal. You are taking the debt you have and asking to have it lessened or removed completely. This is a big ask and should only be filed by those who really need it. Bankruptcy should not be treated as a get out of jail free card that you abuse every seven years. This is something that should be taken very seriously. When you file for your bankruptcy, there are mistakes you may make that could delay your bankruptcy or have your bankruptcy dismissed altogether.…

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Sued for Improper Child Supervision? 3 Things to Consider to Determine Fault

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If you are a teacher, babysitter, nanny, or are otherwise in charge of children, your primary job is to ensure that the children are supervised properly. If a child gets hurt on your watch, there is a chance that you can be held liable for his or her injuries. One thing that will need to be determined is exactly how much supervision is adequate for the children you watch to help decide how much fault is yours.…

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Filing For Chapter 13 Bankruptcy Protection In Maryland

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Chapter 13 bankruptcy is filed in federal bankruptcy court in the flier’s home state, but each state has its own rules concerning exemptions, or property that you can keep when filing for bankruptcy. This type of bankruptcy allows a debtor to repay creditors according to their disposable income, or money that is left over after essential bills are paid. Debtors can keep nearly all of their property unless they have substantial assets than can be liquidated to help to satisfy their debts.…

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Exploring Your Bankruptcy Options

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If you are drowning under a sea of debt, then you might be seriously considering bankruptcy. However, there are actually two different kinds of bankruptcy, and they are very different in how they play out. To help you decide which is best for you, here is a comparison of Chapter 7 and Chapter 13 bankruptcies. What is the ultimate result? With Chapter 7, some of your assets will be sold off and all applicable debts will be erased.…

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3 Advantages Of Filing For Chapter 7 Bankruptcy

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You may be in a huge financial bind for a number of reasons–a job loss, huge medical bills, or even just spending beyond your means. If you have reached a point where the debt you owe is far beyond what you are able to pay back, and you can’t afford to make monthly minimum payments on that debt, filing for chapter 7 bankruptcy may be a solution. There are many benefits to filing for chapter 7 bankruptcy when the debts you owe are overwhelming, such as:…

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When To Hire An Attorney If You Are Facing Foreclosure

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If you find yourself at risk of losing your home, hiring an attorney can be a practical option when you are trying to avoid or fight foreclosure. An attorney can explain your legal rights and obligations, negotiate new loan terms with your lender, assist you in completing the paperwork necessary to apply for a loan modification, or delay the foreclosure sale by helping you file for bankruptcy. When you are facing foreclosure, it pays to know in what situations hiring an attorney like Jeffrey S Arnold Attorney At Law P.…

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5 Questions Concerning Chapter 7 Bankruptcy And Your Car

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Chapter 7 bankruptcy is often used when an individual has enough assets to liquidate to cover at least a portion of what they owe to debtors. This form of bankruptcy can bring about a lot of worries when it comes down to what will happen with your vehicles. Here are five typical questions people who file chapter 7 bankruptcy have about their automobile. 1. Does it matter if you only have one vehicle for your family?…

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How To Protect Yourself From Fake Debt Collectors

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When you fall behind on your bills, every ring of the phone can cause anxiety. The actions of collection agencies are aggressive by nature, and even those who follow the laws about bill collecting will disrupt your life with constant reminders of your bad financial state: Collection agencies are hired by your creditors, such as a credit cards, banks or loan companies and are allowed by law to contact you an unlimited number of times about a debt, however they can only contact you between the hours of 8 a.…

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Involuntary Chapter 7 Bankruptcy: 3 Requirements Of Being Forced Into Bankruptcy

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Filing for chapter 7 bankruptcy can be a difficult process, but sometimes, those doing so have come to the conclusion that it is the only solution to a very complex situation. Other times, those with debt try as hard as they can to repay the loans and credit lines they’ve utilized. However, in certain instances, you could potentially be forced into a chapter 7 bankruptcy. Although there are certain rules that apply to this type of ‘creditor-initiated’ bankruptcy, it is a legally valid tool that creditors can leverage in an attempt to collect on past debts.…

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