If you’re trapped under a mountain of debt and see no clear way out of it, a Chapter 7 bankruptcy could wipe out that debt and give you a fresh start with your finances. Filing for Chapter 7 bankruptcy, however, can be complicated if you’re attempting to handle it on your own. That’s why it’s […]
What Goes Into Filing for Chapter 7 Bankruptcy?
November 26th, 2024 by glmpcadminWhat’s the Difference Between Bankruptcy and Debt Settlement?
October 23rd, 2024 by glmpcadminRight now, many American consumers are struggling with surging debt. As such, more and more people are filing for bankruptcy and subsequently lessening the previous stigma around it. And with good reason. There are so many reasons one might find themselves in debt that have nothing to do with one’s character. Whatever the case, Americans […]
Frequently Asked Questions About Bankruptcy
September 19th, 2024 by glmpcadminAre you struggling to make ends meet? Unable to keep up with your debts and getting deeper into a financial hole? Filing for bankruptcy could provide significant help and much needed relief. Filing for bankruptcy can give you a chance to start fresh by eliminating debts that you simply can’t pay. It may also enable creditors […]
The 5 Most Common Types of Bankruptcy
June 27th, 2023 by glmpcadminBankruptcy can be a valuable tool for individuals and businesses looking to get out from under insurmountable debt to get a fresh start. The Bankruptcy Code consists of five distinct types of bankruptcy for individuals and businesses for debts owed in the United States (the sixth, Chapter 9, is only available to municipalities to reorganize […]
Can Bankruptcy Stop My Car Repossession?
February 20th, 2023 by glmpcadminIf you are behind on your car payments and facing repossession, filing for bankruptcy can help. Filing for bankruptcy will generate an automatic stay, which will stop creditors (at least temporarily) from repossessing the vehicle. Depending on which Chapter of the bankruptcy laws you file under, your options to keep the vehicle will vary. Chapter 7 […]
What If I File a Chapter 13 Bankruptcy and Can’t Make the Payments?
February 7th, 2023 by glmpcadminA chapter 13 bankruptcy is a reorganization bankruptcy in which the debtor’s goal is the entry of an order confirming their proposed chapter 13 plan. Once the plan is confirmed then the debtor makes payments pursuant to the plan for typically 36 to 60 months. When the plan payments have been completed then the court […]
What are the Chapter 13 First Meeting of Creditors and the Confirmation Hearing?
February 1st, 2023 by glmpcadminChapter 13 bankruptcy cases differ from Chapter 7 bankruptcies in many ways. While both have a mandatory Meeting of Creditors as required by 11 U.S.C. Section 341 (a.k.a.-The 341 Hearing), Chapter 13 cases will also have a SECOND hearing early in the case, called the “Confirmation Hearing”. The term “341 Meeting of Creditors” is a […]