Before someone files for Chapter 13 Bankruptcy their creditors may be contacting them nonstop regarding their debt whether it is via email, letters through the mail, or even phone calls. An automatic stay is an order given from the U.S. Bankruptcy Court that is issued to your creditors that you have begun the bankruptcy process. […]
Continue readingMore TagTag: Chapter 13
What is a Chapter 13 Confirmation Hearing?
When you file for Chapter 13 Bankruptcy in Maryland you begin a process that typically takes between 3 to 5 years to complete. The Chapter 13 Bankruptcy process also involves proposing a plan to repay some or all of your creditors. Your repayment plan must be confirmed by the bankruptcy court before it can be […]
Continue readingMore Tag
Long Term Financial Advantages to Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is a payment plan that lasts between 3 to 4 years. The length of the payment plan can be discouraging for some people, and Chapter 7 Bankruptcy may seen initially more preferable but it is not. There are many long term financial advantages to Chapter 13 Bankruptcy, including some that are not […]
Continue readingMore Tag
Chapter 7 vs Chapter 13 Bankruptcy
No one enjoys filing for bankruptcy, but if you have to file, it will usually be through chapter 7 or chapter 13. But what is the difference? Let’s take a look.Chapter 7 BankruptcyThis method of bankruptcy is the one most people are familiar with, this involves completely wiping out your unsecured debt such as credit […]
Continue readingMore Tag
Rising Costs, Lower Income – Reasons to File Bankruptcy
If you had to see the political debates this week, both parties spoke of income disparity. Many of our fellow Americans live at or near the poverty line. 36 percent have no savings for an emergency. Another 32 percent have less than 10 thousand dollars in savings. That equates to 68 percent of the population […]
Continue readingMore Tag