Entries by tampa

How Chapter 13 Bankruptcy affects Debt and Assets

Under Chapter 13 bankruptcy, you are required to follow a court-ordered payment plan over 3 to 5 years to clear off your debts. During this period, you need to be very austere with your spending. There are several restrictions you must impose on how you spend your money. The bankruptcy trustee will make sure that […]

Which Assets are Exempted in Bankruptcy?

If you have been following my blog for any length of time, you probably know that there are two types of bankruptcy that are available to individuals namely Chapter 7 and Chapter 13 bankruptcy. Chapter 7 bankruptcy is liquidation bankruptcy where your assets are sold off (liquidated) to pay your creditors whereas Chapter 13 bankruptcy […]

Income of Spouse in Bankruptcy filing

One of the requirements in any bankruptcy filing is an income declaration. Your income will determine which type of bankruptcy you are eligible to file. If you are filing a joint bankruptcy petition with your spouse, it would be quite straightforward. Both your incomes need to be declared. But if you are making a bankruptcy […]

Eliminating Tax Debt through Bankruptcy

Many people think that tax debt cannot be eliminated through bankruptcy. This is not entirely true. In some cases, you may be allowed to pay off your tax debt at a rate you can afford every month. This is beneficial to you because it gets the IRS off your back and you will not have […]

Reinstating Driver’s License through Bankruptcy

Did you know that bankruptcy can get your suspended driver’s license reinstated? Let me explain. If you owe money due to an outstanding debt related to a civil judgment, you may get your driver’s license suspended. Two common examples of such debt are owing child support and lack of insurance. So if your driver’s license […]

What Happens to Payday Loans in Bankruptcy

Payday loans are short term loans mostly taken by the lower income group of people to pay for immediate expenses.  The good thing is that payday loans are generally easy to obtain but the bad thing is that these loans usually accrue high interest rates.  Due to these high rates, you end up repaying more […]

How to Plan for Bankruptcy

If you intend to file for bankruptcy protection, you should consider how you would do so.  You see, if you plan it right, you can save yourself a princely sum of money.  Planning ahead includes taking a number of important steps to ensure you complete the process faithfully to the best of your knowledge.  The […]

Chapter 13 Bankruptcy and your Debts and Property

The debtor is required to repay all or a portion of his/her debt over the course of 3 to 5 years if he/she files for Chapter 13 bankruptcy. A debtor is prohibited from taking actions while in Chapter 13 bankruptcy. Listed below are the following actions to avoid: – Without the approval of the bankruptcy […]

How to Lower Your Medical Bills

Every American should ever think about is paying expensive medical bills, whether they are anticipating medical debt or that they currently have medical debt or even if they aren’t thinking about it. In this country, the cost of medical care has skyrocketed that even those people who have insurance are noticing that it isn’t enough […]

How Chapter 13 Bankruptcy can Help Home Owners

When it comes to dealing with foreclosure, Chapter 13 bankruptcy offers homeowners several options including a mortgage default or even a second or third mortgage. Chapter 13 is very popular among homeowners who needs help to abtain affortable mortgage payments that will give them the capability to keep their homes. You can help maintain your […]