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Posted On Jul 2 2018 by

Bankruptcy

Here you’ll find a library of bankruptcy information articles covering everything you need to know about Chapter 7 and Chapter 13 bankruptcy — how each works, procedural issues, what happens to your property, how debts are treated, and more.

You can also access local bankruptcy attorneys to answer particular questions or represent you in a bankruptcy case.

Choose from the topics below to get started.

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Popular Bankruptcy Articles

Popular Bankruptcy Articles

This page will walk you through the forms necessary to file a simple Chapter 7 bankruptcy on your own. Complete with sample completed forms.

Learn how to file for chapter 13 bankruptcy on your own and find sample completed forms to help you along the way.

Here’s what the bankruptcy forms look like, and examples of a completed petition and required forms.

Once you’ve decided that bankruptcy is the right solution for your financial situation, you will need to decide which type of bankruptcy is best.

Learn About Bankruptcy

Learn About Bankruptcy

Get basic information on what bankruptcy can do for you, and what alternatives you have.

Articles covering the basics about bankruptcy.

Learn about the most common type of bankruptcy.

This type bankruptcy is powerful for debtors who have steady income and valuable assets.

Find out how much a bankruptcy lawyer will cost and what to expect from her.

Learn about wage garnishments, credit card debt, and other types of debt in bankruptcy.

Learn about exemptions and how they protect your property from creditors when you file for bankruptcy protection.

Find articles that cover the basic process of a bankruptcy case.

If you’re going to file for bankruptcy, make sure you plan ahead.

In a Chapter 13 bankruptcy, you must propose a plan to repay some (or all) of your debt over time. Here’s how it works.

In every Chapter 7 and Chapter 13 bankruptcy case, there will be a meeting of creditors, also called the 341 hearing.

Considerations when you’re filing for bankruptcy.

If you file for bankruptcy, what happens to your car and car loan depends, in large part, on what type of bankruptcy you file — Chapter 7 or Chapter 13.

Here you’ll find articles explaining what happens to homes and mortgages in Chapter 7 and Chapter 13.

Learn about rebuilding credit, getting loans, and other steps after you’ve completed your bankruptcy case.

More From Nolo

More From Nolo

Thousands of articles on various bankruptcy topics, written by bankruptcy experts, curated by Nolo’s lawyer editors.

Get the latest in bankruptcy news from Nolo’s blog.

Find a Lawyer

Find a Lawyer

View bankruptcy lawyers practicing in your state.

What Is Bankruptcy?

What Is Bankruptcy?

The purpose of bankruptcy is to enable individuals and businesses to regain control of their finances by eliminating or reorganizing their debts. The two types of bankruptcy most commonly used by consumers are Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy. In Chapter 7 bankruptcy, the bankruptcy trustee sells your nonexempt property to repay unsecured creditors. Because you get to keep your exempt property (each state and the federal bankruptcy code has a list of exempt property),most debtors lose little, if any, property in Chapter 7. In return, you can wipe out most types of unsecured debt. Some debts, however, like certain tax debts and back child support, can never be wiped out. And some, like student loans, are difficult to eliminate (but not impossible).

Chapter 13 Bankruptcy. In Chapter 13 bankruptcy, you keep all of your property and repay your unsecured debts (in full or part) through a Chapter 13 repayment plan, which lasts from three to five years. Because you can make up mortgage or car loan arrears in Chapter 13 (but not in Chapter 7), Chapter 13 is often a good choice for people who want to keep their homes or cars, but are behind in payments.





Last Updated on: July 2nd, 2018 at 2:50 am, by


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