In order to qualify for a Chapter 7 Bankruptcy, a debtor must meet certain eligibility requirements. First, a debtor may file for Chapter 7 Bankruptcy only once every eight years. Second, the debtor must pass the “Means Test” prior to qualifying for a Chapter 7 filing. Once filed, the court enters an Order for Relief, commonly known as, the Automatic Stay, which obligates all creditors and collection agencies to stop all collection efforts.
Posts Tagged ‘File Bankruptcy’
How to File Chapter 7 Bankruptcy and Keep Your Car
Sunday, June 28th, 2009If you have filed Chapter 7 bankruptcy or plan to file Chapter 7 bankruptcy then a 722 Redemption Loan is something you should be aware of. It allows you to keep the car you have instead of losing it in these difficult times. Even if you owe more money on your automobile then it is currently valued at, a 722 Redemption Loan can make it possible for you to take control of your current financing troubles.
Remove a Bankruptcy – Improve Score With a Bankruptcy
Thursday, June 18th, 2009If you have too much debt and feel like there is no way out, the last thing you want to do is file for bankruptcy. A bankruptcy can stay on your credit report for up to 10 years and this can make it hard to get a loan for a new car or a home. In many cases we can not avoid filing for bankruptcy when you have a large amount of debt and you can not pay it.. After you have filed it is important that you work on improving your credit score and a good way to do this is to remove the bankruptcy early. Many people who have filed for bankruptcy have been able to get it removed in a short period of time.
Avoid These Common Mistakes When You File For Bankruptcy
Tuesday, June 16th, 2009Today, an increasing number of consumers are considering bankruptcy as a debt relief option. If you are one of those consumers, it is imperative that you try to avoid these common mistakes that can result in your bankruptcy case being dismissed.
How the New Bankruptcy Means Test Can Affect You and Your Family
Sunday, June 14th, 2009If you’ve been considering bankruptcy and have paid attention to some of the changes that have taken place recently, you may be wondering if you qualify. There are definitely some changes that you need to be aware of, including the so called means test. This can help determine whether you can file chapter seven bankruptcy.
