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Can I file for bankruptcy while in the military?
Updated on: 20th Sep, 2020

If you are a military personnel and serving the nation, you have the same rights as any other civilian to file for bankruptcy and urge for protection from intimidating creditors. There are no legal restrictions as of now to prevent you from filing personal bankruptcy and requesting protection under ...

Chapter 13 exemptions - What nobody would ever tell you
Updated on: 16th Sep, 2020

Chapter 13 bankruptcy exemptions are like an ‘emergency window’ which gives you the last chance to legally save as much as you can when paying back unsecured creditors. Chapter 13 bankruptcy and 7 exemptions are same - Really? There is a big difference between Chapter 7 and Chapter 13 bankrupt...

7 Reasons that compel you to opt for chapter 7 bankruptcy
Updated on: 16th Sep, 2020

If you see bankruptcy filing as the one and only way out of your debt dilemma, and if you are sure of doing it, the very next question that pops up is under which bankruptcy to file. For most people who are looking to file personal bankruptcy, the choice entirely ceases down to either Chapter 7 or C...

What happens to the employees of Chesapeake Energy after filing bankruptcy?
Updated on: 21st Jul, 2020

What happens to the employees of Chesapeake Energy after filing bankruptcy? Chesapeake Energy has filed Chapter 11 bankruptcy (also known as business bankruptcy) in the last week of June 2020 after incurring a gigantic loss of $8.3 billion in the first 3 months of 2020. Why did Chesapeake file C...

How bankruptcy treats Priority debts?
Updated on: 26th May, 2020

Debts are debts. No matter who owes whom, one needs to pay them off to regain peace of mind. Well, some debts are marked as ‘priority’. Do you want to know why? Let’s find out. Why debts are termed as ‘priority’? ‘Priority debt’ is more like a jargon, a term that has cropped up due t...

21 FAQs on automatic stay violation in bankruptcy
Updated on: 23rd Apr, 2020

The best part of filing bankruptcy is, it will stop the creditor’s harassment against debtor. No creditor can bother a debtor through phone calls, threatening letters, and lawsuits etc. As per the bankruptcy law, this is known as automatic stay. Read the FAQs to make yourself more knowledgeable re...

Filed multiple bankruptcies? This is what happens to automatic stay
Updated on: 15th Apr, 2020

The US bankruptcy code offers a series of statutes to bankruptcy filers as a means of protection from creditors. Among the various statutes, the 2 most important ones are bankruptcy discharge, and automatic stay. In this post, we will discuss the essential characteristics of the second one, which i...

Here are the 4 money mistakes pushing seniors toward bankruptcy
Updated on: 7th Apr, 2020

More and more seniors are filing bankruptcy nowadays due to various socio-economic reasons like expensive medical expenses, social security payments, and huge unsecured debts. .If you look at the numbers, you’ll find that the average age of 1 in 8 bankruptcy filers, during the period between 2013 ...

Does bankruptcy protect both the creditors and debtors?
Updated on: 19th Feb, 2020

Many people are in credit card debt, medical debt, and student loan debt.Now, it’s very common to find yourself in heavy debt, which is beyond your control. Under such circumstances, you can consolidate your debt or go for a debt settlement program to lessen your debt burden.But, if you can't affo...

Can you apply for credit cards after filing bankruptcy?
Updated on: 6th Feb, 2020

Life doesn’t end after filing bankruptcy. But yes, a few restrictions are definitely imposed on your financial life. Does that mean you can’t apply for credit cards after bankruptcy? It isn’t that you can’t apply for credit cards after bankruptcy. It’s just that you may not qualify for the...

Last Updated on: 16 Apr 2018