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Specializing in Bankruptcy Law since 1982

Wessler Law Firm located at 1624 24th Avenue in Gulfport, MS proudly provides legal services to the Misssippi counties of Jackson, Harrison, George, Stone, and Pearl River, including the cities: Gulfport, Biloxi, Long Beach, Picayune, Gautier, Pascagoula, Moss Point, Ocean Springs, Wiggins, Poplarville, Pass Christian, Lucedale, Bay St. Louis.

 

Wessler Law Firm: Bankruptcy Blog

 

 

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...

I don’t think I can count the number of times I have had to explain to bankers, mortgage companies, and finance companies the reason that in a Chapter 7 Bankruptcy, they should ALWAYS want, and if possible require the execution of a reaffirmation agreement with respect...

There are technically six types of bankruptcy proceedings, Chapters 7,9,11,12,13 and 15 but only three that you are likely to have contact with; Chapter 7,11, and 13.

  • Chapter 7 is straight out old-fashioned liquidation bankruptcy.

  • Chapter 11 is busine...

Chapter 13 of the bankruptcy code gives debtors the opportunity to repay some or all of the debts that are in their name, in better terms, lower or no interest. Debtors have the ability to use income they have in the future to pay off creditors.

How Chapter 13 Works

A ti...

Are you facing financial troubles? Have you tried to alleviate your debts by working with the companies, but not succeeding? There are many reasons for a person to enter into financial difficulties. It is possible that you or a spouse has lost a job, you have medical b...

Banks are in lending money business and not in real estate business and the last thing they want is to end up owning another piece of real estate. Knowledge is one of your greatest allies in a bank foreclosure proceeding.

When you buy a home by borrowing money from a fi...

As applying for loans, credit cards and other forms of credit are easier to come by, so are the bankruptcy rates in the United States. In a ten year period, between 1994 and 2004, bankruptcy rates in the United States nearly doubled. The government’s reaction was to ta...

Chapter 7 bankruptcy is also known as straight bankruptcy and is a process of liquidation in which the debtor turns over all non-exempt property to the trustee of the bankruptcy proceedings. The trustee will, in turn, convert it to cash and distribute the proceeds to c...

When there's no other way for you or your business to remain afloat, then you should consider filing for bankruptcy. It offers businesses and individuals alike a fresh start while providing the opportunity to settle all fiscal obligations by legal means. 

Each of t...

Bankruptcy is a legally declared inability of individuals or businesses to discharge their debts. If it is difficult to repay debts, declaring the bankruptcy may be the right solution for debt problems. A declared state of bankruptcy can be requested not only by credit...

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