Currently Browsing:Alternatives to Chapter 7

Should You File for Bankruptcy?

  Bankruptcy,  Right Choice?  The decision to file for bankruptcy should never be taken lightly. You will be committing to a complicated process that will negatively affect your credit for years. However, for some consumers, bankruptcy is a necessary and even beneficial ordeal.   So, is a bankruptcy filing necessary for your situation? And which

Read More

Liens on my Home, will they be removed in Bankruptcy?

In brief, the liens will almost certainly delay or prevent the sale of your home. As well, while it may be possible to remove the liens, you will need to hire a lawyer. The main thing to understand is that liens survive the bankruptcy process unless special action is taken with the court. In a

Read More

Chapter 7 – Bankruptcy Basics

This chapter of the Bankruptcy Code provides for “liquidation” – the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors. Alternatives to Chapter 7 Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole

Read More