If you are going to enter into bankruptcy, there's a lot of information that you need to provide. Your attorney can give you a detailed list, but it's a good idea to get as much together as possible before your first meeting.
Chapter 7 bankruptcy is a great kind of bankruptcy to consider if you're struggling with debt. It is also known as liquidation bankruptcy because you sell some of your liquid assets to pay back what you owe.
You fell into debt when you lost your job, and things have been tough around your home. You and your spouse have had some hard times in the past and know you'll get through them, but with creditors knocking at your door, you're not sure how to react. You just want to resolve these issues and go back to living life normally.
There are several kinds of bankruptcy that you may be looking into, but if you qualify, Chapter 7 bankruptcy is one of the best. Chapter 7 bankruptcy is the simplest kind of bankruptcy because it helps you eliminate all of your unsecured debt without having to make payments.
Florida residents like you may feel pressed into a corner when considering filing for bankruptcy. However, we at Kingcade Garcia McMaken will show you that filing for bankruptcy doesn't have to be the difficult, world-ending thing that some people make it out to be.
Many Florida residents, including yourself, may assume that filing for bankruptcy is a choice. In most cases, you would be right. However, what if you are informed that your creditors are petitioning for your bankruptcy? Can they do this?
Florida residents who are trapped under a pile of debt may be looking at different bankruptcy options in order to rid themselves of a financial burden. Though many options are available, today we will be taking a look at Chapter 7 bankruptcy.
Many people in the United States suffer from overwhelming medical expenses, stemming from an unexpected injury, medical diagnosis or other ailment. According to a CNBC report, medical debt is the number one cause of bankruptcy in the United States. Approximately 2 million people every year suffer from the effects of medical expenses, and another 643,000 people file for bankruptcy as a result of medical debt.
When you file for Chapter 7 bankruptcy, there are several items that must be addressed before your case is completed and your debt is dismissed. Once you are deemed eligible to file for Chapter 7, you must take the mandatory credit counseling course and file your bankruptcy documents with the court. The trustee appointed over your case will then schedule a meeting of creditors, also referred to as a 341 hearing, sometime between 21 and 40 days after the bankruptcy petition is filed. It is important that you understand what goes on during the meeting so that you can be prepared to answer any questions that may come your way.
You may have been told that you can lose some property if you file for a Chapter 7 bankruptcy. This information may have dissuaded you from seeking relief. However, it is important for you and other Florida residents to understand exempt and non-exempt bankruptcy assets, so you can make an informed decision.