Category Archives: Chapter 7 Bankruptcy
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The form used for ” means” testing in Chapter 7 cases is nine pages long! It may surprise you to learn that not everyone who files a Chapter 7 case is required to provide the information for each line or each page of the form. Due to policy considerations, some persons such as disabled veterans are eligible to… Read More »
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In short, YES. Filing a bankruptcy, whether it be Chapter 7 or Chapter 13, will stop the foreclosure process. However, filing a Chapter 7 bankruptcy may not stop the process permanently. When a Chapter 7 bankruptcy is filed, an “automatic stay” goes into effect. This “stay” stops, or at least temporarily prevents collection actions against… Read More »
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How will bankruptcy impact my credit? This is usually the first question asked by potential clients when meeting with them. Most often since these individuals have made an appointment to discuss their options and are thinking about bankruptcy, their credit is already pretty damaged. A bankruptcy filing is reflected on your credit report almost immediately… Read More »