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Bankruptcy 101: The Role of the Trustee

While filing for bankruptcy is made as simple a process as possible for a person whose debt has become unmanageable, things behind the scenes are a little more complex. When a person files for bankruptcy, a debtor’s assets are turned into what is known as a bankruptcy estate, which becomes a separate legal entity from […]

Understanding the 341 Meeting

If you are filing either a Chapter 7 or Chapter 13 bankruptcy, after you meet with your attorney and go over all your financials, another meeting will be held to give creditors an opportunity to determine how much – if any – money they are going to recoup after you file. Named because the meeting […]

A Brief Overview of Chapter 7 Bankruptcy

Filing for Chapter 7 bankruptcy is an option for people who can no longer keep up with repayments on bank loans, credit cards, and so on. If a person ends up in a situation where their debts are out of control and they do not earn enough income to cover the repayments, they may decide […]

It’s Not as Bad as It Seems: 7 Benefits of Filing Bankruptcy

Declaring bankruptcy can be incredibly stressful, and many people who do it can feel as though they have let themselves and others down. However, it is essential to remain positive, and focusing on the advantages that filing for bankruptcy brings can help lift a person’s spirits and enable them to see that they’ve made a […]

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