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Posts tagged "Chapter 13 bankruptcy"

New court case may limit Chapter 13 options

A recent appeal by a Massachusetts homeowner failed to garner a sympathetic ear from the Justices on the United States Supreme Court. The High Court held, like the intermediate appellate court, that the laws of the United States did not give the Court the right to hear the case.

How do I get a Chapter 13 plan approved?

Many Massachusetts residents who are struggling with debt may find themselves a little apprehensive if they are told that, because of their income, they will have to file a Chapter 13 bankruptcy. Compared with Chapter 7 bankruptcies, Chapter 13 proceedings are not as common among Massachusetts households, and the way its process works is not as ingrained into the cultural parlance.

How does the discharge process work in Chapter 13 bankruptcy?

Your telephone rings. It's your credit card company trying to collect an overdue bill. Yesterday, it was the hospital. Tomorrow, it might be your mortgage company. What can a Massachusetts consumer like you do? If you want to take the financial bull by the horns, Chapter 13 bankruptcy may be one of your best options.

How does Chapter 13 differ from Chapter 7?

For people struggling with extreme levels of debt, one of the best and most effective forms of relief can be filing for bankruptcy. Deciding to take advantage of bankruptcy protection is only the first step, however, because there are various different types of bankruptcy under which a person can file. "Debt reorganization," or Chapter 13 bankruptcy, differs from Chapter 7 bankruptcy, commonly known as liquidation bankruptcy, in several important ways.

What are the rules and advantages of filing for Chapter 13?

Financial issues can affect anyone whether they're from Massachusetts or elsewhere around the nation. If these problems become too overwhelming, many are reluctant to consider various forms of bankruptcy due to the misplaced belief that they're shirking their commitment to pay their creditors. However, there are many advantages to getting the fresh financial start that Chapter 13 bankruptcy can provide and it's important to understand them before dismissing the idea out of hand.

National Hockey League player files for personal bankruptcy

Professional sports players often make millions from the get-go in their careers. However, this does not mean that they are immune from financial problems.

What are the consequences of re-filing for personal bankruptcy?

Unfortunately, there are times when a debtor's bankruptcy case in Massachusetts will be dismissed. When this happens, the debtor will be restored to the same financial situation that he or she was in prior to filing for bankruptcy, without obtaining any form of debt relief. Obviously this is not the outcome that the debtor wanted and he or she may consider re-filing for bankruptcy. However, debtors should understand that there are consequences that stem from re-filing for bankruptcy.

Personal bankruptcy: One option for overwhelming debt

There are many questions that you might have when faced with an overwhelming amount of debt. Financial challenges can be quite complicated for people living in Salem and Haverhill. There are wide gradients in loans, obligations and other forms of debt that individuals or families may take on. When those items get out of control and payment seems impossible, one option to consider is personal bankruptcy.

What is Chapter 13 bankruptcy?

When an individual in the state of Massachusetts is struggling with debt, he or she may feel overwhelmed by the amount of financial material that is available. Having financial difficulties is challenging, especially if a person doesn't know about the available options. There are several categories of bankruptcy that may be applicable when someone is considering options for dealing with a large amount of consumer or medical debt. One of those options is Chapter 13 bankruptcy.

Chapter 13 bankruptcy can provide debt relief for many

Most people don't choose to have a lot of debt. In Massachusetts, debt accumulation can anchor some people to living month-to-month while dealing with harassing creditors. It may seem like there are no options when predatory creditors call day and night. Fortunately, options like debt reorganization bankruptcy can help residents get out of a harassed lifestyle. Some creditors will go to unsavory extreme lengths to attempt to collect on debt.