The Benefits of a Chapter 13 Bankruptcy Over a Chapter 7 Bankruptcy

Posted on: 13 March 2019

When it comes to filing personal bankruptcy, many people believe that filing a Chapter 7 is better than filing a Chapter 13. In a Chapter 7 bankruptcy, your debt that qualifies is wiped out and you don't have to pay it back. In a Chapter 13 bankruptcy, you will establish a repayment plan and you are responsible for paying off some of the debt you owe. Although it seems like an easy decision, there are times when debtors aren't able to file for Chapter 7 because monthly income levels are too high and disposable income amounts make you ineligible. [Read More]

When You Can't Pay Your Mortgage: Tips For Avoiding Foreclosure

Posted on: 18 January 2019

When you experience a change in your financial security, you do everything you can to meet your obligations and pay your bills. However, sometimes the odds are stacked against you, and you no longer can pay your bills and your creditors. Missing payments to your mortgage lender can lead you into deeper financial trouble.  Most people want to avoid foreclosing on their home at all costs. The first step you need to take if you're experiencing trouble with your finances, especially if you are in danger of losing your house, is to contact a foreclosure attorney. [Read More]

Assets In Chapter 7 Bankruptcy

Posted on: 18 July 2018

In chapter 7 bankruptcy, the assets of the applicant will be considered to pay back some or all of the debt owed to the creditors. Assets are classified as exempt and nonexempt. The applicant cannot keep most assets that are considered nonexempt.   Differences Between Nonexempt and Exempt Assets Nonexempt assets will be valued and used to pay back creditors. However, there are exempt assets that will be excluded from evaluation. The applicant will be able to keep their exempt assets. [Read More]

A Debt Relief Lawyer Offers Several Great Options For Getting Out Of Debt

Posted on: 28 February 2017

Getting into debt can take time and can suddenly creep up on you; and at some point, you might feel like you hit rock bottom. You might be in such bad financial shape that you cannot even make minimum payments on all your debts. Are you in this position right now, and are you tired of all the collection calls you keep receiving? If so, visiting with a debt relief lawyer like Clinger Richard S is probably a good thing to do. [Read More]