Category Archives: Chapter 13
The Florida Bankruptcy Means Test
Yes, everyone has the right to file for bankruptcy protection, but that is not the whole story. Most people who have seriously considered filing for bankruptcy have heard the terms chapter 7 and chapter 13. If someone you know has filed for bankruptcy, you might even know how the chapter 7 or chapter 13… Read More »
How Do Bankruptcy Cases End?
You might remember from high school English literature class that the end of a story or stage play is called the denouement, but that the category of the denouement is further subdivided. If the story is a comedy or otherwise has a happy ending, then the denouement of the story is called the resolution,… Read More »
Can You Get a Mortgage After Filing for Bankruptcy?
Filing for bankruptcy protection does not mean that you will never borrow money again. Yes, it has a negative effect on your credit score, but if a bankruptcy filing amounted to an outright ban on borrowing money or paying in installments, then it would not be meaningful for the same person to file for… Read More »
Is Bankruptcy the Best Solution to Medical Debt?
In more than half of all bankruptcy filings by individuals, the applicants cite medical debt as the main type of debt they are seeking to discharge and the biggest contributor to their financial hardships. Medical debt can strike almost anyone; only the wealthiest people can afford to pay a hospital bill in full when… Read More »
Will Chapter 13 Bankruptcy Make Your Financial Situation Better or Worse?
The federal Bankruptcy Code includes many different categories for bankruptcy filings, but most individuals who file for bankruptcy protection use chapter 7 or chapter 13. Which category should you choose? The Google snippet answer is that, if you have a steady income and own assets beyond the bare necessities, you should file for chapter… Read More »
Frequently Asked Questions About Chapter 13 Bankruptcy
The vast majority of bankruptcy filings by individuals take place under chapter 7 or chapter 13 of the bankruptcy code. The shorthand descriptions of the differences between these two types of bankruptcy filing commonly used in the media do not tell you all the details about how the case will go if you file. … Read More »
4 Bummers About Bankruptcy
No one goes to bankruptcy court expecting that filing for bankruptcy will feel like taking a victory lap, but many applicants go into the bankruptcy process with an excess of optimism. Bankruptcy will take away some of your debts, but only if you hold up your end of the bargain, and even then, you… Read More »
Bankruptcy Protection for the Bourgeois
The wealthy have many resources, material and otherwise, at their disposal to enable them to lower their tax burden, while the 99 percent must work gigs that issue 1099 forms and then pay back the lion’s share of our earnings to the IRS. It is also ridiculously easy to borrow huge sums of money… Read More »
Can You Borrow Money While In Chapter 13 Bankruptcy?
If chapter 7 bankruptcy feels like getting a clean slate, chapter 13 bankruptcy feels more like running the gauntlet. You don’t get your debts discharged until after you complete your payment plan, which can range from three to five years. It is a lot like being obligated to make payments on your debts as… Read More »
Bankruptcy Tips For The Holiday Season
After living through years of financial stress, which was especially painful during the holidays, making the decision to file for bankruptcy can be a relief. Nothing puts a damper on your holiday festivities like having the court get involved in your business. This is one of the reasons that Divorce Monday, the first business… Read More »