Filing for bankruptcy is a major decision in your life, but it is one that can come with great financial freedom. Consumers often file either a Chapter 7 or a Chapter 13 bankruptcy. While both of these can provide a fresh financial start, Chapter 7 is generally...
How do individuals qualify for Chapter 7 bankruptcy?
Chapter 7 bankruptcy is available for both businesses and individuals. When individuals or married couples pursue relief through Chapter 7 bankruptcy, they must first prove that they qualify. Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a relatively...
Can I file Chapter 7? The Indiana means test explained
When you are overwhelmed by credit card debt, Chapter 7 bankruptcy can represent the fresh start you need. It is a powerful tool designed to eliminate or discharge eligible unsecured debts, such as credit card balances and medical bills. However, many people in...
Can you keep your car after Chapter 7?
Filing for Chapter 7 bankruptcy can bring a mix of relief and worry, especially when you still have a car loan. So, when bankruptcy comes into the picture, one of your biggest concerns might be “What about the car?” Truthfully, it depends on how you handle that loan....
3 reasons your Chapter 7 bankruptcy can be denied
A Chapter 7 bankruptcy discharge can provide much-needed relief by allowing individuals to eliminate most of their unsecured debts and enable them to regain financial stability. However, not all not all Chapter 7 bankruptcy filings are successful. When you apply for a...
What is exempt property in a Chapter 7 bankruptcy in Indiana?
People who file for bankruptcy protection have usually tried everything else they can to get their finances under control. For those who take the step, one decision that has to be made is what type of bankruptcy they’ll file. Individuals who pass the means test for...
Who is eligible to file for Chapter 7 bankruptcy?
Filing for bankruptcy can be a daunting but necessary step for individuals facing overwhelming financial challenges. Familiarizing yourself with the eligibility criteria can be crucial for a successful petition. Chapter 7 bankruptcy, is a debt relief process that is...
Will filing for bankruptcy impact your retirement?
After being in the workforce for decades, most older Americans look forward to retirement. It's a time to relax, travel and spend time with family. Unfortunately, the golden years also bring more health issues and healthcare costs for many people. And with a limited...
2 common mistakes to avoid when filing for Chapter 7 bankruptcy
Navigating the bankruptcy system can be complex, and even minor mistakes can have significant consequences. But the reality of filing for Chapter 7 bankruptcy doesn’t take away from the fact that it can provide much-needed relief for individuals overwhelmed by debt in...
What you should know about “zombie debt”
If you’re dealing with overwhelming debt, you may have lost track of everyone you owe and how many collectors are contacting you. One thing you should be careful about is something called “zombie debt.” A zombie debt is often a debt you no longer owe because it has...
