Monthly Archives: July 2014

In debt? You’re not alone

A new study shows that a whopping 77 million Americans has debt that’s listed on their credit report as being “in collections.”  That’s 35% of adults who have credit files.  And this debt is spread around all over the country, even though a higher percentage of it is in the South. The student was released […]

Are you eligible for Ch. 7 or Ch. 13 bankruptcy?

Eligibility can turn on 1) who is filing the bankruptcy, 2) the kinds and amounts of debts, 3) the amount of income, and 4) the amount of expenses.

Student loan settlement companies to be sued by Illinois AG

Student-loan settlement companies that allegedly take people’s money and do not provide the promised student-loan debt help will be sued by the Attorney General of Illinois, the New York Times reported.  Illinois will be the first state to take legal action against companies that advertise help for student loan debtors.
Two of these student loan debt […]

Lots of business debt can allow you to qualify for Ch. 7 more easily

If you owe more business debt than consumer debt, then you can avoid not only the “means test” but also some other roadblocks to a successful post-business Chapter 7 bankruptcy case.

What happens to general unsecured debt in Chapter 7?

Your “left-over debts”–those which are neither secured by collateral nor belong to any of the special “priority” categories–often don’t drive the decision about whether to file Chapter 7 or 13. But you still need to know how these “general unsecured debts” are handled under these two options.

Options with Your Vehicle Loan under Chapter 7

Your car or truck loan may be the most important debt you have. Chapter 7 puts you in the driver seat for dealing with this debt.