Chapter 7 bankruptcy Tag

Married couples often share the same debts, but that is not always the case.  There are bankruptcy filing options for both situations.  One partner may need to wipe out their debts but want to avoid harming the other partner’s credit.  In some states, it can be beneficial to file for bankruptcy jointly.  Before deciding, you should know the pros and cons of each filing option for married...

So, you made the decision to reclaim your life from financial trouble in 2018 and file for bankruptcy.  When you file, you basically separate from your estate.  You can think of your estate as a separate person.  This can create some complexities during tax season.  To add more into the mix, the chapter under which you file can change things!  Read on to learn more about the fun of taxes...

It is a common misconception that you have to give up everything valuable during chapter 7 bankruptcy.  You can file a car redemption motion.  This option could be a game changer because it saves you money in the long run.  A car is an essential asset when it comes to getting to and from work, hauling the kids around, and performing a multitude of other everyday actions. What is Vehicle...

Did you know that you do not have to liquify all of your assets when you file for Chapter 7 bankruptcy in Florida?  You can file for asset redemption if you have “secured debts”.  Secured debt is debt that has collateral that can be used to pay off the debt.  For example, if you own a car, but still owe a lender money for the car, you can file for redemption on the car during...

Believe it or not, filing for bankruptcy under Chapter 7, liquidating most of your assets, and starting over is not the end of the story.  Chapter 7 is unique because a separate estate is created using your non-exempt assets (see Chapter 7 posts for more information).  The assets within this separate estate can derive their own income, create their own costs, and they are taxable. Who...

There are any number of reasons you can end up considering bankruptcy under Chapter 7.  Now, you need to understand what it really is.  First, you should understand that bankruptcy can mean a new beginning.  The stress of dodging phone calls from creditors and the anxiety of checking the mail can come to an end.  Second, you should understand what Chapter 7 bankruptcy in Florida is and what it...