When an individual files bankruptcy they are required to take a credit counseling course. Credit counseling must be completed through an agency that is approved by the United States Trustee’s office before any person or business entity will be entitled to file for a Chapter 7 or Chapter 13. The reason this is required is because many individuals discover after they’ve undergone the counseling that they do not need to file bankruptcy, and can get themselves out of debt using a
We like to succeed as human beings and sometimes succeeding is harder than others. We face many obstacles especially financially. It may be that we lost our job, or medical expenses took all our savings on top of everything else that goes on. We constantly try to correct things only to see no end. A last resort for many of us financially is bankruptcy. When you have made the decision to file for bankruptcy there are several things you need to know, including finding a qualifi
There are certain exemptions related to bankruptcy law that helps protect creditors when a debtor files bankruptcy in Mississippi. One also has the choice in Mississippi to avail of federal exemption statutes instead of the Mississippi exemptions, and it is also possible to use federal supplemental exemptions in conjunction with the Mississippi exemptions.
Debtors don’t Necessarily Lose Everything in Bankruptcy
Many people are under the false impression that bankruptcy mea
Student Loans Often Remain Following Bankruptcy
One question many former students have when considering filing for bankruptcy is how their student loans will be handled. In a majority of cases, student loans for college are not dischargeable under bankruptcy rules established in 1998. Too many students had taken out an exorbitant amount of loans for school and between graduation and starting to work would file for bankruptcy, eliminating the need to repay the loans, so Cong
If you think that being bankrupt is the worst thing that could happen to you, think again. Hiring the wrong attorney to handle your bankruptcy case could create an even bigger nightmare! Don't stress though -- this is a preventable scenario. Before hiring, you should do some research and make sure that you find an attorney who makes you feel comfortable and confident.
Facts about selecting bankruptcy attorneys:
A lot of attorneys are overworked so they aren’t able to give
Many people struggle with the decision to file bankruptcy. Usually this is because they have misconceptions about bankruptcy in general. Basically, bankruptcy is a legal way to level the playing field between an individual debtor and creditors. It is a legal proceeding that provides the debtor with a fresh start.
The two types of bankruptcy that are most commonly available for an individual are: Chapter 7 and Chapter 13.
Chapter 7, or straight bankruptcy, is what most pe
In Mississippi as well as in other states there are lawyers specialized in bankruptcy. Unfortunately bankruptcy is the only solution for many people. After struggling for months, maybe years and after trying all other less radical solutions of their debt problems, they have to throw in the towel and just accept the plain and brutal truth: I'm bankrupt. But this doesn't mean that life is over; not at all. And it is good to know that help is available out there. Just as you wo
Deciding to file for bankruptcy is never an easy choice to make. You must first weigh the pros and cons, and determine what type of bankruptcy you can file. There are two major ways to file bankruptcy and you should know that it is not an easy process. You can do it on your own if you understand the laws and the two different types of bankruptcy you can file. First there is chapter 7; chapter 7 bankruptcy is the conversion of assets into money. This allows you to payoff debts
There are many things to consider when you are going into bankruptcy. One important thing that you might not be aware of is that most of the bankruptcy options are going to give you a public record bankruptcy. A public record bankruptcy means that your bankruptcy is going to become a matter of public record. This means that anyone will be able to see that you have filed for bankruptcy. Will your name and bankruptcy case number be published in your local newspaper? That depend
When your business doesn’t have the money to pay its bills, and you feel as though you are in way over your head, you might have to deal with the unfortunate process of bankruptcy. Going through corporate bankruptcy is a hard process, because your business is involved with financial difficulties. However, the good news is that there are steps that you can take to get through the process with minimal damage to your financial health and to the health of your business. Digging o