Can a bankruptcy stop garnishments, repossession, foreclosures, lawsuits, and harassment?

Can a bankruptcy stop garnishments, repossession, foreclosures, lawsuits, and harassment? Yes. By filing a bankruptcy under Chapter 7 or 13, an “Automatic Stay” is created by federal law, which immediately stops garnishments, repossessions, foreclosures and lawsuits against the debtor. Additionally, creditors and collection agencies can no longer contact the debtor. […]

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What is Chapter 7 bankruptcy?

What is Chapter 7 bankruptcy? The Chapter 7 bankruptcy is known as the “liquidation” bankruptcy. Basically, the debtor relinquishes his property to the bankruptcy trustee, and receives a discharge of his debts. However, there are exceptions to this basic rule. A debtor is allowed to claim some property as “exempt” […]

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Is bankruptcy right for me?

Is bankruptcy right for me? Studies have shown that the major causes of serious consumer delinquency are layoffs, illness, and marital problems. Bankruptcy was discussed among the founding forefathers when our nation was founded. They understood that chronic debt was bad for the fabric of society. Chronic debt creates health […]

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How much does it cost to file bankruptcy?

How much does it cost to file bankruptcy? Chapter 7 – The legal fee, court costs, reaffirmations, and credit counseling combined is $1200.00. Chapter 13 – To file a Chapter 13, all you need is $310.00. The attorney fees are paid through monthly payments to the Trustee. Debtors have an […]

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