Bankruptcy is full of fun and interesting facts. This blog will explore a few.
When you file bankruptcy you discharge your liability on unsecured debts (with some exclusions, for instance, taxes or student loans) and secured debts. Due to the lien on secured assets, you need to keep paying on the debt to keep the property, but your liability on the debt is discharged through your case. As long as you have not signed a reaffirmation agreement in the bankruptcy, you can surrender your filed secured assets back to the lender during or after bankruptcy, and not be liable for any balance owed on the loan, due to the discharge. This is the same regarding involuntary repossessions as well, if after filing you fall behind on payments and have a repossession, you will not be liable for the balance, due to your bankruptcy discharge.
There are quite a few parties to a bankruptcy case. If you are thinking about filing or in an active bankruptcy, you may be wondering which name belongs to which individual.
The median income for your household size is used in bankruptcy to determine whether you qualify for a Chapter 7 or a Chapter 13 and whether you are a three-year or a five-year Chapter 13 bankruptcy.
When you are filing for bankruptcy or in any financial predicament, you don’t want to pay for a consultation to see your options. At LifeBack Law, we offer free bankruptcy consultations. Typically, they are done by phone, Zoom, in-person, FaceTime or Skype. These consultations take about a half hour to an hour, and you will receive advice from a bankruptcy attorney.
If you are in bankruptcy or not, who doesn’t love a good, easy, cheap meal that will feed the whole family? The below recipe is for crockpot fajitas. It is tasty, easy, and cheap.
Side gigs are booming. With delivery, Etsy shops, and various other apps having a side gig is usually an easy way to score extra money, if needed. If you are considering bankruptcy you may be wondering how having a side gig may impact your filing.
Inflation is hitting everyone hard right now. From utilities to groceries, it seems the cost of living all around is increasing daily. When you file for bankruptcy you will receive advice to reprioritize or restructure your budget, this blog will go into ideas on doing so.
A conversion is when you convert (or flip) your case from one bankruptcy chapter to another. They are common with chapter 13 to chapter 7 cases, but can also go the other way from a chapter 7 to a chapter 13. This blog will explore what may trigger a conversion during a bankruptcy.
An amendment is the official term used, when you change information in your case. There are many reasons to file an amendment to your bankruptcy case, below are a few of the most common:
A pro se filing is where a person has filed a case by themselves, without an attorney. Pro se cases may be fine for some things, but they are frowned upon for bankruptcy filings. This is because bankruptcy law is nuanced and complex.
If you have asked around about bankruptcy, you may have heard horror stories, where so-and-so’s bankruptcy was blasted all over the local newspaper and everyone in their home town found out about it. To my knowledge, in Minnesota, there are no major newspapers who report bankruptcy filings. That being said, bankruptcy is public information and below are the most common ways someone can find out about it.
Whether you are receiving a gift or have given a gift prior to filing bankruptcy, keep the following things in mind.
Most bankruptcy cases go extremely smoothly and you get your bankruptcy discharge without a hitch. An important factor to this, is hiring a good lawyer.
Just because you are married, does not mean you automatically need to file a joint bankruptcy with your spouse.
When considering bankruptcy it is good to know your options as far as case type. There are four different types of bankruptcy cases, businesses and individuals can file. At LifeBack Law, we only file chapter 13 and chapter 7 bankruptcy cases.
Bankruptcy is full of fun and interesting facts. This blog will explore a few.
When you file bankruptcy you discharge your liability on unsecured debts (with some exclusions, for...
There are quite a few parties to a bankruptcy case. If you are thinking about filing or in an...
The median income for your household size is used in bankruptcy to determine whether you qualify...
When you are filing for bankruptcy or in any financial predicament, you don’t want to pay for a...
If you are in bankruptcy or not, who doesn’t love a good, easy, cheap meal that will feed the whole...
Side gigs are booming. With delivery, Etsy shops, and various other apps having a side gig is...
Inflation is hitting everyone hard right now. From utilities to groceries, it seems the cost of...
A conversion is when you convert (or flip) your case from one bankruptcy chapter to another. They...
An amendment is the official term used, when you change information in your case. There are many...
A pro se filing is where a person has filed a case by themselves, without an attorney. Pro se cases...
If you have asked around about bankruptcy, you may have heard horror stories, where so-and-so’s...
Whether you are receiving a gift or have given a gift prior to filing bankruptcy, keep the...
Most bankruptcy cases go extremely smoothly and you get your bankruptcy discharge without a hitch....
Just because you are married, does not mean you automatically need to file a joint bankruptcy with...
When considering bankruptcy it is good to know your options as far as case type. There are four...
