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.
Buy Time to Deal with Multiple Years of Income Tax Debts
What if you have some income tax debt that qualifies for discharge but one (or more) tax year that doesn't? Does Chapter 7 ever help enough?
Why Timing Can Be So Crucial for the Means Test
The timing of your Chapter 7 filing--a difference of even just a day or two--can affect whether you qualify for it based on your income.
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.
Protecting Your Co-Signer in Bankruptcy
Don't be afraid to file bankruptcy because of how it would affect a co-signer. Your bankruptcy often actually helps that co-signer.
Household Size Really Matters for Passing the Means Test
You can have more income for the purpose of passing the means test as your household size increases. But what IS your household's size?
The U. S. Trustee–Administrator and Enforcer
You hear in bankruptcy about the "trustee," and maybe about the "U.S. Trustee." They're clearly easy to confuse. Who's the U.S. Trustee?
The Trustee in a Consumer Chapter 7 Case
Besides your creditors, the main person you need to be careful about in a "straight bankruptcy" Chapter 7 case is the trustee. Who's that?
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.
A Sample Judgment Lien, Undone
Here's an example showing why a judgment lien on your home is dangerous, and how bankruptcy can solve this problem.
Permanently Write Off Debts in Bankruptcy
The main goal of bankruptcy is often to write off--"discharge"--your debts. Here's how it works in Chapter 7 "straight bankruptcy."
Special Assets–An Inheritance
Inheritances and life insurance proceeds have a special rule when it comes to the timing of your bankruptcy filing.
“Pre-Petition” and “Post-Petition” Debts in Chapter 13
There are various ways of dealing with debts that arise during the course of your Chapter 13 "adjustment of debts" case.
“Pre-Petition” and “Post-Petition” Debts in Chapter 7
The timing of your Chapter 7 "straight bankruptcy" case can make a huge difference in dealing with your debts.