Tag Archives: #Chapter13Bankruptcy

What Will My Life Be Like After I File Bankruptcy?

Most people who have never filed for bankruptcy do not know what to expect from the process. Bankruptcy can offer people relief from their financial struggles, even issues involving student loan and income tax debt, and it enables them to regain control of their financial future. However, there has always been this stigma surrounding bankruptcy, as if filing for bankruptcy means you have failed somehow and you should be ashamed, which could not be further from the truth. In many cases, people are struggling financially due to circumstances out of their control, such as job loss, divorce or medical debt from a sudden illness. Bankruptcy is a legal tool that offers you a chance to fix your financial troubles so that you and your family no longer have to struggle. Obviously, life will be different following bankruptcy, but that is not necessarily a bad thing. What Do I Need to…
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What If a Judge Revokes Your Bankruptcy Discharge?

Most people that file for Chapter 7 bankruptcy or Chapter 13 bankruptcy do so for the bankruptcy discharge. The bankruptcy discharge can offer you a fresh financial start. Most, if not all of your outstanding unsecured debt will be completely erased after your bankruptcy case is resolved, allowing you to begin anew. However, if you are not entirely truthful, or commit bankruptcy fraud before, during, or even after your bankruptcy, your discharge could be thrown out. Why Would My Bankruptcy Discharge Be Denied? Your bankruptcy discharge may be revoked if: You committed bankruptcy fraud, and it wasn’t discovered until after your case had closed. You disobeyed court rules or orders. You attempted to hide or refused to surrender assets that should have gone to the bankruptcy estate. You lied on official forms, or did not complete them. Generally, there are only three parties that can ask that your bankruptcy discharge…
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Credit Counseling and Debtor Education: What’s the Difference?

When you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you will be required to complete both a credit counseling and debtor education course. Many people who end up filing for bankruptcy either wrongly assume that they only have to do one or the other, or even that they don’t have to complete either. The Difference Between Credit Counseling and Debtor Education Credit Counseling – Prior to filing for Chapter 7 bankruptcy, you will have to complete a credit counseling course. The course must be approved by the U.S. Trustee’s office, and can typically be done either in person, on the phone, or over the internet. In most cases you will be required to have finished the credit counseling within 180 days before you file a petition for bankruptcy. When you go to file your petition, you will have to submit your certificate of completion along with it. The…
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