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In this article we discuss the Chapter 7 bankruptcy process including filing the bankruptcy petition, taking credit counseling courses, preparing bankruptcy schedules, appearance at the first meeting of creditors, and creditors' objections to discharge.
In this article, we explain the Chapter 7 Bankruptcy process in Illinois. We will explain the difference between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy, how to determine if Chapter 7 Bankruptcy is right for you, how to file for Chapter 7 Bankruptcy, what to expect from the First Meeting of Creditors, and what happens after the First Meeting of creditors in a Chapter 7 Bankruptcy case.
In a previous podcast & videoblog we discussed the Chapter 7 Bankruptcy Process. In this article we will discuss what happens at the First Meeting of the Creditors in a Chapter 7 case.
When your bankruptcy petition and schedules are filed, the court will schedule a meeting with the trustee called the First Meeting of the Creditors. Although notice of this meeting is sent to everyone you list as a creditor in your petition, it is extremely rare for a creditor to actually attend.
Chapter 11 bankruptcy is a type of bankruptcy typically reserved for large corporations but in the right circumstances, can be the best bankruptcy instrument for a small business. Small business owners filing for bankruptcy whose debt exceeds the limit for Chapter 13 and would like to keep operating their business under some degree of profitability should strongly consider Chapter 11 bankruptcy.
In this article, we discuss the pros and cons of Chapter 11 bankruptcy in Indiana and answer the following questions: What Is Chapter 11 Bankruptcy?, How Is Chapter 11 Bankruptcy Different From Chapter 7 Or Chapter 13?, Is Chapter 11 Bankruptcy A Good Option For Businesses In Indiana?, and How Can I Get The Most Out Of Chapter 11 Bankruptcy?
In a Chapter 13 bankruptcy, the debtor pays off some or all of his or her debt through a payment plan over the course of either 3 or 5 years. This is different from a Chapter 7 bankruptcy, in which the debtor’s assets are collected and used to pay creditors, while any remaining debt is immediately discharged. For more information about the differences between Chapter 13 bankruptcies and Chapter 7 bankruptcies, eligibility requirements for Chapter 13 bankruptcies, and the situations in which Chapter 13 bankruptcies are preferable to Chapter 7 bankruptcies, check out our article: When Does it Make Sense to File a Chapter 13 Bankruptcy rather than a Chapter 7 Bankruptcy.
This article will discuss how those that qualify for a Chapter 7 bankruptcy can be eligible for a Chapter 13 bankruptcy zero percent plan and save their home and car. We will answer the following questions: what is the difference between Chapter 7 and Chapter 13 bankruptcy?, what is a zero percent plan?, what does the debtor pay in a zero percent plan?, how does the Mean's Test determine eligibility for a Chapter 13 zero percent plan?, and is a zero percent plan still an option if I have too much equity?
In this article, we will explain how Chapter 13 bankruptcy repayment plans work, define the different classes of creditors, explain how each class of creditor must be treated under the repayment plan, and explain how the length of the repayment plan is determined.
In this article, we explain the Fair Debt Collection Practices Act (“the FDCPA”). We answer the following questions:
In this article we explain rules that debt collectors are required to follow under the Fair Debt Collection Practices Act. We’ll answer the following questions:
Consumer Defense FAQ: This article explains the Fair Debt Collection Practices Act and tackles some of the frequently asked questions our Consumer Defense attorneys receive about the laws that shield you from debt collectors, protect the integrity of your credit report, and punish those that violate those laws. Three main statutes that create this Consumer Defense area of law are the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, and the Fair Credit Reporting Act.
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