Frequently Asked Questions about Bankruptcy

What is the difference between Chapter 7 and Chapter 13 bankruptcy? Chapter 7 bankruptcy is called a Liquidation bankruptcy and one can only file under it if his income is low enough (according to the Means Test). Chapter 7 bankruptcy writes off all debts instantly and at once, leaving the debtor “clean”. His bank cardsContinue reading

10-steps practical guide on recovering from personal bankruptcy

Bankruptcy can become a long-awaited relief from unmanageable debts you’ve collected over years. If you have realized that bankruptcy is your only option and decided to file for it, you should be prepared for a post-bankruptcy period that many meet with a depressive state of mind. Let this guide become your assistant in recovering fromContinue reading

Top 6 signs it is time file for bankruptcy

Life can be tough and unpredictable whatever optimistic you are. Seeing your future bright and wealthy is a good thing, but being realistic about the current financial situation is even better. Bankruptcy is unfairly perceived as a dead end in terms of financial and social life, while it is a totally wrong idea. Filing forContinue reading