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Chapter 7 Archives

How long will it take to complete my Chapter 7 proceedings?

No one enjoys the Chapter 7 bankruptcy process. It's like braces on your teeth. It's a little painful, and it takes awhile, but once it's done, the benefits are worth it. In the case of bankruptcy, you'll have a beautiful financial condition to be proud of -- one that's free of all the debts that were covered by the bankruptcy. Considering that bankruptcy isn't "fun," though, you probably want to know how long Chapter 7 takes.

How likely is it that I'll lose my home in bankruptcy?

Whether or not you can keep a home after you file bankruptcy depends on numerous factors. The type of bankruptcy you file, your own financial situation and the amount of equity you have in the home all play a role in the outcome. Many, many people who file either Chapter 7 or Chapter 13 bankruptcy are able to keep their homes, but you do need to consult with a bankruptcy attorney to find out how your specific situation is likely to play out.

Can you pass the Chapter 7 means test?

If you're considering filing for individual bankruptcy to deal with your debts, you likely already know that you have the option of Chapter 7 or Chapter 13. Both have advantages and disadvantages. Chapter 7 bankruptcy allows most unsecured debts to be discharged. Chapter 13 is a restructuring rather than a discharge of debts, but allows people to keep their assets.

Bankruptcy: Why wait when you can start today?

Bankruptcy is a very positive process for most people who decide to file, but that does not mean it is an easy decision to make. A lot of factors have to be looked at to determine if the borrower can benefit from bankruptcy and if the borrower can legally qualify for bankruptcy. All that said, it is best to make this decision sooner rather than later to prevent one's debt situation from skyrocketing further out of control; and, if bankruptcy is not chosen, then other debt management strategies must be engaged.

Ex-child pop singer complains of debt problems

Pop star Aaron Carter appeared on television to reveal that he is suffering debt problems. The singer opened up regarding his financial issues on Life or Debt, saying that he is in a terrible position financially. The 28-year-old blames his debt problems on poor financial management and getting hit with enormous taxes when he turned 18. In 2009, he was hit with more than $1 million worth of taxes, and he has been suffering from debt problems ever since.

TV power couple begins Chapter 7 bankrupctcy proceedings

Many Arizona residents will remember Tisha Campbell-Martin and her longtime husband Duane Martin from the popular television series "Martin" from the 1990s. This Hollywood power couple recently announced that they are suffering from financial problems. In fact, they have filed for Chapter 7 bankruptcy in order to resolve approximately $14.5 million in toxic debt.

Dan R. Dodds Dan R. Dodds

At the Dodds Law Firm, I focus my practice on the needs of individuals who have suffered losses because of abusive, deceptive or unfair conduct by others. I also provide comprehensive counsel in all matters related to Chapter 7 and Chapter 13...Read More

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