What is the Statement of Intention?
When a homeowner files for Chapter 7 bankruptcy protection, the very first page of the bankruptcy filing that the mortgage company turns to is the Statement of Intention. The Statement of Intention (or Statement of Intent) discloses the debtor’s intention toward secured property, like cars and homes. In the Statement of Intention, the debtor states […]
The Top Ten Reasons For Bankruptcy
You have your own story, but so do we all. If you’re considering bankruptcy, you may feel isolated or uniquely afflicted. But you are not alone. In fact, certain recurring circumstances lead people to file bankruptcy. Here are the top ten reasons for bankruptcy. 1. Debt The primary goal of bankruptcy is to eliminate debt. In […]
What NOT To Do Before Filing Bankruptcy
Taking the wrong actions either before or during your bankruptcy can badly damage your chances of obtaining a favorable outcome. Understanding your rights and responsibilities can help assist you to minimize your risks. Consult with a bankruptcy lawyer to help you navigate the pitfalls commonly encountered by those seeking bankruptcy protection. Here is a DON’T […]
16 Most Frequently Asked Questions About Bankruptcy
There are no stupid questions. You probably have very reasonable questions about how filing bankruptcy will affect you personally. Over the years, I have answered many recurring questions. Here are the 16 most frequently asked questions about bankruptcy. If I file for bankruptcy, can I keep my belongings? Yes, in most cases. For the vast […]
Business Bankruptcy: Chapter 7
If your company or business is so far in debt that it can’t continue business operations, consider business bankruptcy. Many different types of businesses can be good candidates for under Chapter 7 bankruptcy. Business Bankruptcy: Chapter 7 Chapter 7 bankruptcy for a business requires complete liquidation of assets. All business assets (if there are any) […]