Chapter 13 Consequences Most debtors file for chapter 7 bankruptcy, but chapter 13 is an option under special circumstances. Many debtors including the poor, have to turn to chapter 13 because they cannot qualify for a chapter 7 bankruptcy. In chapter 13, a payment...
The (not so) new Bankruptcy Law is now 10 Years old – Has it Been Helpful? Part 2
The Great Recession Housing prices in many markets began to plummet in 2006. For virtually all middle and lower income families and individuals who were homeowners, this meant that their only major asset had lost a tremendous amount of value. And for those whose...
Filing for Chapter 7 Bankruptcy? Don’t Forget to Include all of Your Income
Way, way back in 2005 when YouTube was just being born, another change to American culture took place that few of us noticed. Joe Biden spearheaded a new set of bankruptcy laws that made it more difficult for the average consumer to file for Chapter 7 bankruptcy. The...