Crucial Question: When Can I File Another Bankruptcy?
It's a matter of timing. And that timing depends on whether you previously filed under Chapter 7 or 13, and what you are filing under now.
Answers about Medical Debt that causes Bankruptcy
Although there is no such thing as medical bankruptcy, medical debt causes many people to file bankruptcy. Below is a Q&A about these issues.
Timing Chapter 13 to Discharge Income Taxes
Chapter 13 can discharge income taxes (write them off forever) if you wait long enough to file bankruptcy. Here’s how it works.
Paying Unpaid Child/Spousal Support before Bankruptcy
Before filing bankruptcy, you should know the implications of an unpaid child/spousal support debt. Payment may depend on whether you file Chapter 7 or 13.
The Best Bankruptcy Advice: Get Legal Advice
Businesses considering bankruptcy get intense legal advice before filing. You would also be smart to get solid advice to make a good decision.
Consumer Bankruptcies Sharply Decrease in April
After declining significantly since 2010, and then edging up in the first three months of this year, consumer bankruptcies sharply decline in April.
New Modified 7-Year Chapter 13 Plans
The coronavirus CARES Act temporarily allows ongoing Chapter 13 plans to be amended or "modified" to last a total of 7 years (instead of 5).
Priority Debts in No-Asset Cases
Priority debts are largely unaffected by a Chapter 7 case--it does not discharge them, so you need to pay them after finishing your case.
Your Home Mortgage in Chapter 7 and Chapter 13
Here are 6 ways filing a Chapter 7 case can help you deal with your home lender and related debts, and 6 ways filing a Chapter 13 one can.
Using Time to Your Advantage in Chapter 7 and 13
Chapter 7's big advantage is that it's quick. Chapter 13's big advantage is that it buys you more time to do what you want or need to do.
Keep an Open Mind about Chapter 7 or 13
Here's an example why to keep an open mind about filing under Chapter 7 vs. Chapter 13. Slightly different facts can make all the difference.
Chapter 7 or 13? You May Be Surprised
Chapter 7 takes about 4 months, while Chapter 13 takes 3 to 5 years, and likely costs more. But that doesn't begin to answer which is better.
Protect Yourself from Your Co-Signer
If you can't or won't pay a co-signed debt, or pay a co-signer, you need to protect yourself from that debt and from your co-signer.
The Chapter 13 Plan
Chapter 13 revolves around your payment plan, which you propose based on your budget, and possibly negotiate with creditors and the trustee.
Turning Friday the 13th Bad Luck into Good
Sometimes life simply dishes out some bad luck. A bad car accident. A serious illness. Bankruptcy turns these lemons of life into lemonade.
