Chapter 7

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Chapter 7 vs. Chapter 13 Bankruptcy

June 13th, 2017|Bankruptcy, Chapter 13, Chapter 7|

If bankruptcy is your best option to free yourself from debt, you may still be confused about which bankruptcy chapter best fits your specific situation and needs. The most common chapters for individuals are Chapter 7 and Chapter 13. Chapter 7 This is a liquidation form of bankruptcy— it discharges (eliminates) most or all forms [...]

Redemption – Refinancing Personal Vehicles During Bankruptcy

June 30th, 2014|Bankruptcy, Chapter 7|

When considering Chapter 7 Bankruptcy people always want to know whether they can keep financed vehicles.  If payments to the lender are current, the answer is almost always ‘yes’.  Additionally, Chapter 7 bankruptcy, provides the opportunity to refinance loans on personal vehicles to the fair market value of the vehicle by “…paying the holder of [...]

Sweet Victory

August 13th, 2012|Bankruptcy, Chapter 7|

One of my very first blogs, titled “The Game of Life,” analyzed a case in Arizona involving the possibility of exempting, or protecting, life insurance policies in Chapter 7 bankruptcy. I am sure many of you may have forgotten this case, but debtor’s attorneys have not. We have been biting our nails and holding our [...]

Have Your Slice of the Pie

July 4th, 2012|Bankruptcy, Chapter 7|

A common belief of many people who are considering filing for bankruptcy is that they will lose all of their possessions if they file.  Typically, the issue of assets is most significant in a Chapter 7 bankruptcy.  This is because a Chapter 7 bankruptcy is considered a liquidation bankruptcy.  When an individual files for relief under [...]

What’s Yours is Mine

March 23rd, 2012|Bankruptcy, Chapter 7|

We learn as little kids that sharing is a good thing.  Snacks, toys, presents - all are meant to be shared.  But what happens when we grow up, and we start to share our cars, houses, or bank accounts?  For example, what happens when we title something jointly with another person, such as a parent [...]

All in the Family

December 23rd, 2011|Bankruptcy, Chapter 13, Chapter 7|

If I were to compile a list of the top ten most asked questions by potential bankruptcy clients, "Do I have to file bankruptcy with my husband/wife?"  would be at the top of the list.  It is a big concern of many couples because filing bankruptcy (either Chapter 13 or Chapter 7) will remain on [...]

The Inside Scoop on Insiders

August 9th, 2011|Bankruptcy, Chapter 13, Chapter 7|

I might be a lawyer now, but at one time I was just a struggling law student, which means I had zero income and a lot of debt.  What it also meant is that a relied on the kindness of family members (thank you mom and dad) to help me fund those three years of [...]