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Chapter 7 Bankruptcy Misconceptions

Many consumers and small business owners who consider Chapter 7 bankruptcy protection are confused about the process due to many misconceptions or false information. While bankruptcy laws were updated in 2005, there still seems to be a considerable amount of misunderstandings about who can file and whether it damages your reputation. One of the most [...]

By |2018-11-13T23:35:36+00:00July 1st, 2013|Chapter 7 Bankruptcy|Comments Off on Chapter 7 Bankruptcy Misconceptions

Can I Keep Cash I Have On Hand in Chapter 7 Bankruptcy?

Keeping Cash on Hand During Chapter 7 Bankruptcy There are exemptions available in Chapter 7 bankruptcy that may help protect your cash. Although the cash in question has to qualify as an exempt asset. It's common for consumers to be afraid of filing in fear of losing cash assets. The good news is you may [...]

By |2017-12-13T02:10:52+00:00May 21st, 2013|Chapter 7 Bankruptcy|Comments Off on Can I Keep Cash I Have On Hand in Chapter 7 Bankruptcy?

How Do You Know If You Qualify for Chapter 7 Bankruptcy?

Chapter 7 bankruptcy eliminates unsecured debt such as medical bills, credit card debt, and payday loans. In order to understand whether you qualify is by reviewing your eligibility factors. The most effective way to learn if you qualify includes discussing your situation with an experienced bankruptcy attorney. Meeting qualifications of the means test and providing [...]

By |2018-11-08T23:04:16+00:00May 16th, 2013|Chapter 7 Bankruptcy|Comments Off on How Do You Know If You Qualify for Chapter 7 Bankruptcy?

Using Chapter 7 Bankruptcy to Discharge Business Debt

Chapter 7 Bankruptcy and Business Debt Many business owners are confused on whether a personal bankruptcy filing has the ability to wipe out business-related debt. In many cases, this is possible depending on the type of debt and whether you are indeed personally liable for the debt. The way your business is structured may also [...]

By |2017-12-13T02:11:17+00:00April 16th, 2013|Chapter 7 Bankruptcy|Comments Off on Using Chapter 7 Bankruptcy to Discharge Business Debt

How Planning Ahead May Help You Keep Your Tax Refund in Chapter 7 Bankruptcy

  If you file for Chapter 7 bankruptcy , you may not need to worry about your tax refund if you take simple steps to plan beforehand.  If you are anticipating a refund or you have received it and you plan to file for protection, it is likely you want to know what will happen.  [...]

By |2018-11-19T20:08:56+00:00March 22nd, 2013|Chapter 7 Bankruptcy|Comments Off on How Planning Ahead May Help You Keep Your Tax Refund in Chapter 7 Bankruptcy

5 Frequently Asked Questions about Chapter 7 Bankruptcy

Understanding Chapter 7 bankruptcy can help you make an informed decision about whether filing is the best option for your situation.  Getting answers to questions you may have about the process can be an important factor in choosing how to move forward with your finances.  It's an opportunity to learn the facts while clearing up [...]

By |2018-11-12T18:19:10+00:00March 13th, 2013|Chapter 7 Bankruptcy|Comments Off on 5 Frequently Asked Questions about Chapter 7 Bankruptcy

Can Chapter 7 Bankruptcy Help Protect Life Insurance Proceeds?

Bankruptcy and Life Insurance Proceeds The law does show a considerable amount of respect when it comes to life insurance. Life insurance proceeds may be considered property of the bankruptcy estate depending on how you are entitled to them. There are exemptions that may help protect proceeds, but it is important to disclose details of [...]

By |2018-11-07T21:48:24+00:00January 11th, 2013|Chapter 7 Bankruptcy|Comments Off on Can Chapter 7 Bankruptcy Help Protect Life Insurance Proceeds?

Can I Keep a Cash Gift Received While in Chapter 7 Bankruptcy?

A cash gift received while in bankruptcy may be protected, but if you were entitled to receive it before you filed this is an issue to review in more detail. It comes down to understanding if the cash gift was in fact a "gift." If there is no entitlement prior to the filing than most likely [...]

By |2018-11-15T23:47:15+00:00January 10th, 2013|Chapter 7 Bankruptcy|Comments Off on Can I Keep a Cash Gift Received While in Chapter 7 Bankruptcy?

Can I Keep My Credit Card if I File Chapter 7 Bankruptcy?

Most people look to file Chapter 7 bankruptcy to eliminate credit card debt .  Some feel it may not be a good idea to keep your credit card especially if you plan on using it after your case is completed. The good news is it is possible to keep your credit card after filing bankruptcy.  [...]

By |2018-11-09T22:33:48+00:00January 4th, 2013|Chapter 7 Bankruptcy|Comments Off on Can I Keep My Credit Card if I File Chapter 7 Bankruptcy?

Does Chapter 7 Bankruptcy Protect Accident Insurance Proceeds?

 Bankruptcy and Accident Insurance Proceeds If you received proceeds due to an accident you were involved in, there are issues to consider that can affect their protection eligibility in a chapter 7 bankruptcy. Depending on when the accident took place and why the proceeds were paid, bankruptcy exemptions may protect proceeds from creditors. An issue [...]

By |2018-11-07T21:12:11+00:00December 20th, 2012|Chapter 7 Bankruptcy|Comments Off on Does Chapter 7 Bankruptcy Protect Accident Insurance Proceeds?