Explaining the best and worst sides of each bankruptcy Chapter

Chapter 7 Best aspects It brings instant debt relief, means the debtor receives a full discharge on all debts. The bankruptcy under Chapter 7 allows keeping some property (a cheap car, clothing, and other personal stuff), so the debtor is not left with nothing in his hands. Chapter 7 is the easiest to apply andContinue reading

Chapter 12 bankruptcy explained

One of the least used bankruptcy Chapter in the USA is Chapter 12. It has a very narrow range of types of debtors who is eligible for this Chapter and we will describe it in details in our review. Chapter 12 was invented by the Congress after many farms and fisheries faced severe hardship inContinue reading

Bankruptcy Chapters and their main features

Bankruptcy is a legal process of debt relief that allows individuals or business entities cancel or reorganize their financial obligations. Many see bankruptcy as a non-acceptable or even dreadful solution due to social and financial complications it leads to. However, for the majority of desperate debtors, bankruptcy may become the only reasonable way of gettingContinue reading

Bankruptcy. What is it?

Bankruptcy could become a great solution for those who don’t see any other way to get rid of debts and financial obligations they are unable to repay. For many, bankruptcy is the “final hope” which brings long-awaited debt relief and a chance to start everything from a blank sheet. Some chapters allow debtors eliminate theirContinue reading