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Chapter 7 bankruptcy protection

Chapter 7 bankruptcy can also be referred to as a “liquidation plan” because a debtor’s non exempt assets will be liquidated by the bankruptcy trustee in order to raise cash to payoff creditors (we will talk about exempt and non...

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Eligibility requirements for chapter 7 bankruptcies

The biggest qualification is related to the income of the debtor. If the debtor’s income is higher than the state median then a “means test” will be applied to see if the chapter 7 is feasible. This “means test” will look...

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Chapter 13 Bankruptcy Protection

Chapter 13 bankruptcy protection is commonly referred to as “wage earners protection”. It is referred to in this way because this type of plan affords debtors who have a regular income the opportunity to workout a payment plan with their...

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When is it time to call a Bankruptcy lawyer?

No one ever wants to make that first call to a lawyer of any kind, and calling the Bankruptcy lawyer is probably the worst of all. Be assured that when you speak to me, I bring with me over twenty years of experience in dealing with the stresses that...

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Why sometimes filing a Bankruptcy Case is the only real option.

I recently had a client who really did not want to file a case in Bankruptcy. Who could blame her? It is not something to be undertaken lightly. She felt like a “loser” and was very disappointed in herself. But, over a period of...

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ITS NOT EASY TO TALK ABOUT BANKRUPTCY

Experiencing financial distress to the point of being harassed by your creditors is a very embarrassing and isolating experience. How can you admit to yourself and others that a bad situation such as a divorce, or loss of employment has gotten even...

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