When you file for Chapter 7 bankruptcy all of your non-exempt assets become property of the “bankruptcy estate”. A trustee is then hired to administer this estate, ensuring that all of your assets are managed and liquidated in such a way that creditors would obtain the maximum compensation. There are two basic types of Chapter […]
What is an Asset Chapter 7 Case Read More »
If, like tens of thousands of others, you\’ve found yourself in the unfortunate position of living in a home which is now worth less than the mortgages you\’re paying on it then you may want to consider an option of personal bankruptcy. In situations like this you might feel you\’re going to be financially crushed
Stripping off Second Mortgages in Bankruptcy Read More »
When you file for bankruptcy there is an automatic stay put on any pending lawsuits or judgments against you thanks to the protection offered by bankruptcy laws in the United States. This means that any debts or judgments against you which are filed while you\’re going through bankruptcy stop immediately, preventing you from having
Judgment Lien After Chapter 7 Discharge Read More »
Having to worry about filing for bankruptcy is already a serious enough problem to face as a single person, but if you\’re already married then you will also then need to factor in the impact that the bankruptcy might have on your marriage, and vice versa. In many cases the financial collapse of a couple\’s
Marriage and Bankruptcy Read More »
When you file for bankruptcy there is an automatic stay put on any pending lawsuits or judgments against you thanks to the protection offered by bankruptcy laws in the United States. This means that any debts or judgments against you which are filed while you\’re going into bankruptcy (Chapter 7) stop immediately, preventing you
Judgment Lien After Chapter 7 Discharge Read More »