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Chapter 7

Recent Posts in Chapter 7 Category

  • Will Chapter 7 Bankruptcy Wipe Out All of My Debt?

    || 3-Oct-2016

    If you are considering filing for Chapter 7 bankruptcy protection, you may be wondering if Chapter 7 bankruptcy will be able to wipe out all of your unpaid debt. Chapter 7 is the most common type of bankruptcy, however, it is not right for everyone. As no two bankruptcy cases are exactly the same, a bankruptcy lawyer from Bronson Law Offices, S.C. will be happy to review your finances and advise ...
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  • Will Filing for Bankruptcy Ruin My Credit Score?

    || 30-Apr-2014

    It is quite common for people to wonder about the effect bankruptcy will have on their credit score. Filing for bankruptcy is not a decision that should be made lightly. The magnitude of the impact will depend on the state of your credit prior to you filing for bankruptcy. If you have a lot of delinquent accounts, you have only been making minimum payments or less, and you have become unable to ...
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  • How Does the Chapter 7 Means Test Work?

    || 14-Jan-2014

    If you are in financial trouble, and considering filing for Chapter 7 bankruptcy protection, you probably have questions about how the Chapter 7 means test works. This test evaluates your current monthly income against your debts, as well as all other assets and liabilities. The test was an added requirement for filing Chapter 7, so that only people who are really in financial trouble can file for ...
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  • What is the Difference Between Chapter 7 and Chapter 13?

    || 7-Jan-2014

    The major difference between seeking bankruptcy protection under Chapter 7 and Chapter 13 is that a Chapter 7 bankruptcy will actually discharge, or wipe out, many unsecured debts while a Chapter 13 bankruptcy sets up a payment plan whereby the debtor has 3 to 5 years to catch up on payments. In a Chapter 7 bankruptcy, you are able to keep certain types of property that are exempt, such as the ...
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  • Who is Eligible for Chapter 7 Bankruptcy?

    || 31-Dec-2013

    When determining whether an individual is eligible to file a Chapter 7 bankruptcy petition, the courts use what is known as a "means test." The means test was created to ensure that Chapter 7 filings were only used by those who truly could not pay their debts. By deducting specific monthly expenses from your actual monthly income, the test arrives at a monthly amount of disposable ...
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  • Agape World Involved In An Ongoing Chapter 7 Case

    || 1-Jun-2012

    Yesterday, newscaster Lou Young contacted me regarding an ongoing Chapter 7 bankruptcy case for Agape- -World. Agape World has been called Long Island's largest Ponzi scheme with $400 million at stake. Many of Agape World's investors invested small amounts of money and the trustee has instituted many lawsuits to recover funds from these investors that were withdrawn within 90 days of the ...
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  • Chapter 7 Bankruptcy May Not Be Right For You

    || 30-Nov-2011

    If you are trying to decide if you should file for Chapter 7 bankruptcy, you must first decide if it makes financial sense. To start, you need to determine if your debts are mainly of the type that require a judgment, and if you have any property or income that can be seized by creditors if they obtain a judgment. If your property is exempt and your income comes from Social Security, your ...
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  • How Does Bankruptcy Help Home Owners?

    || 14-Sep-2011

    Bankruptcy stops foreclosure, pure and simple. Prior to a sale a bankruptcy filing causes the automatic stay to be implemented and no sale or foreclosure can take place for a period of time. During this period we work with the client to modify their mortgages so that they can capitalize any amounts owed and reduce the monthly payments. In a Chapter 13 bankruptcy the Southern and Eastern Districts ...
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  • What are the Main Areas in Which the Firm Practices?

    || 6-Sep-2011

    Bankruptcy is our primary focus. Our Westchester County bankruptcy lawyers counsel people regarding their financial situation to determine if bankruptcy is right for them. We then prepare the proper documents and walk our clients through the bankruptcy process. We are very good at making our clients feel comfortable during what they perceive as a very nerve racking experience. Chapter 7 bankruptcy ...
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