Tag Archives: Debt

How does bankruptcy work?

Many people may want to get out from under overwhelming debt, but they may wonder how does bankruptcy work? The first thing they should realize is that bankruptcy may not be able to eliminate all their debt. In some cases, it can wipe out all your liabilities, but certain types of debts like student loans, […]

How do I Know Which Type of Bankruptcy to File?

The type of bankruptcy you should file depends on several factors, including the type of debts you have, your income and the amount of your debts. It’s best to ask a bankruptcy attorney if your situation is complex or you are unsure if you qualify to file a certain type of bankruptcy. Chapter 7 Bankruptcy […]

When Should I Consider Hiring a Bankruptcy Attorney?

Many individuals that are considering bankruptcy as their best option for their financial situation find it challenging to spend money by hiring a bankruptcy attorney. Many of them have the idea that they can simply fill out the paperwork alone, or hire someone at a reduced fee. However, it is more financially advantageous to hire […]

What is Chapter 11 Bankruptcy?

Chapter 11 bankruptcy is most commonly filed by corporations but may also be used for some individual bankruptcy claims. Other common bankruptcy options such as Chapter 7 (an asset liquidation bankruptcy) and Chapter 13 (a financial reorganization bankruptcy) that can be used by individuals are generally shorter processes than Chapter 11 but for different reasons […]