3 Things To Know About A Discharge In Chapter 7 Bankruptcy

The way that Chapter 7 bankruptcy offers relief is through the discharge it provides. The discharge is the main reason people use Chapter 7, and it is very important to understand how this works if you plan to file for bankruptcy. Here are three things you should understand about the discharge before meeting with a lawyer for an evaluation of your finances and situation. What it means The discharge you receive when your case is complete is a legal term that states that you no longer owe the money for the debts included in the discharge.…

Did Your Spouse Accumulate Tons Of Debt Behind Your Back? Get A Lawyer Now

Have you recently found that your spouse has been spending on credit cards or other accounts that you didn’t know about? If the two of you are now so far in debt that you don’t know how you will get out or what you can do to try to turn things around, you may want to see a bankruptcy lawyer. If the bills are so high that you don’t think you will ever be able to pay them off and you are afraid that now you are going to lose your home or other assets that you have, you shouldn’t wait to the appointment for consultation.…

Times When Chapter 13 Bankruptcy Is Better Than Chapter 7

Chapter 7 bankruptcy and Chapter 13 bankruptcy are both commonly used by people who are struggling with major financial problems, and many people prefer the first over the second. There are also times, though, when Chapter 13 is the more advantageous one for people to file; here are some of the situations in which this is true. A person is facing foreclosure When foreclosure is in the picture, the only branch of bankruptcy that will help is Chapter 13.…