Filing Chapter 7 bankruptcy may provide you with the relief from your debt that you have been seeking. If you qualify for Chapter 7, a trustee will gather and sell your nonexempt assets to pay off your creditors through a process called liquidation. Like other...
Month: March 2020
Will I lose everything in Chapter 7?
There are many myths associated with declaring bankruptcy, and the myth of losing literally everything is one of the most pervasive associated with filing Chapter 7. It is important to realize that, no, you will not lose everything you own if you choose this...
Non-profit hospitals, low-income households and medical lawsuits
The public debate about the broken healthcare and medical insurance system rages on, and will likely continue into the foreseeable future. And now, people who are already struggling to survive under the burden of hospital bills are facing an ironic crisis: lawsuits...
Assets included in the bankruptcy estate
The law includes some assets of the debtor in the bankruptcy estate. According to Bankruptcy In Brief, the bankruptcy laws provide a laundry list of the types of assets that come into the estate. Generally, it is all assets of the debtor acquired prior to the filing...
How bankruptcy may affect your taxes
For many people, tax time is a good time because they get back a healthy return that puts some extra money into their pockets. If you are currently in bankruptcy, though, it may affect your taxes and your refund. Keep in mind that the bankruptcy court has control over...