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Chapter 7

Chapter 13 Bankruptcy Versus Chapter 7

Bankruptcy Attorney

Bankruptcy Individuals have two main options for bankruptcy: Chapter 7 and Chapter 13. These are vastly different in the way that they manage your debts. They also have different credit penalties and are well-suited to handling specific types of debt. In this article, we’ll take a look at some of the main differences between Chapter…

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Retaining Credit Cards through Bankruptcy

I have many clients who want to hold onto a credit card through bankruptcy. But this is not always the best idea and is a lot more difficult than it may seem at first blush. In the first place, you must list all creditors you owe money to in your bankruptcy, including any medical bills…

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Bankruptcy Filing Fees Set to Increase

The Judicial Conference has announced that filing fees for bankruptcy will increase.  This increase will affect all new bankruptcy cases filed on and after June 1, 2014.  Chapter 7 bankruptcy and Chapter 13 bankruptcy filing fees will increase by $29 each. FEE INCREASE BREAKDOWN The Chapter 7 bankruptcy filing fee will increase from $306 to…

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FHA Mortgages & Bankruptcy: You May Only Have to Wait One Year After Bankruptcy to Qualify

Conventionally, it took two years, minimum, to obtain an FHA mortgage loan after filing bankruptcy, provided all required criteria were met.  The FHA (Federal Housing Administration, part of the U.S. Department of Housing and Urban Development) recently changed its guidelines to allow FHA mortgage loans to individuals only 1-year outside of bankruptcy.  This post discusses…

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Disecting a Credit Report for Bankruptcy

I have previously written an article on obtaining free credit reports each year from Annual Credit Report.  This present post goes into detail on how to read a credit report once it is obtained, and how the credit report is used for constructing a chapter 7 bankruptcy or a chapter 13 bankruptcy. Under Federal Law, the…

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Will People Find Out that I Filed Bankruptcy?

A common question I receive is: “Will people find out if I file bankruptcy?”  This post details who will find out about your bankruptcy, and who will probably never find out about your bankruptcy (unless you first disclose this fact to them). A bankruptcy filing is a public filing; it becomes part of the public…

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The Chapter 13 Bankruptcy Debt Limit

I meet with clients almost daily.  During my free in-office bankruptcy consultation, I conduct an in-depth analysis of a client’s legal issues as it pertains to bankruptcy. Most often, a client will choose to file a chapter 7 bankruptcy, provided he or she meets the eligibility requirements for a chapter 7.  If the circumstances warrant…

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