Chapter 7 (Fresh Start Bankruptcy)

In a bankruptcy case under chapter 7, you file a petition asking the court to discharge your debts. The basic idea in a chapter 7 bankruptcy is to wipe out (discharge) your debts in exchange for your giving up property, except for “exempt” property which the law allows you to keep.   In most cases, all of your property will be exempt. But property which is not exempt is sold, with the money distributed to creditors. If you want to keep property like a home or a car and are behind on the mortgage or car loan payments, a chapter 

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What Are the Main Differences Between Chapter 7 and Chapter 13 Bankruptcy

Chapter 7 is called “liquidation” bankruptcy because filers may lose some of their property, with some important exceptions. Chapter 7 is reserved for individuals and businesses with little or no ability to repay debts in the future. So those who file Chapter 7 may lose non-exempt assets in exchange for having most debts erased. Chapter 13 is called “reorganization” bankruptcy because it allows consumers to reorganize their debt burdens and payment schedules. Anyone filing for Chapter 13 must also propose a repayment plan showing your income and how you will pay off your debts. Working with the court, your plan 

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Benefits of Chapter 7 bankruptcy

Chapter 7 bankruptcy erases virtually ALL of your debt except student loans.   You’ll receive a Discharge Order from a Bankruptcy Judge which will erase ALL of your credit cards, medical bills, personal loans, payday loans, and utility bills. You’ll be debt free. In 2017, almost 1 million people filed bankruptcy. It’s the quickest and most effective path to regaining financial security. I’ve perfected the process at Dunne Law Offices to get it done in 98 days from start to finish. In 98 days, you’ll be debt free. Call me for a free consultation at (215) 551 7109.

Emancipate Yourself from Mental Slavery -Discharge Your Student Loans

On May 13, 2013, Monique Evette Jones sought a discharge of her student loan obligations in her Chapter 7 bankruptcy case. Chief Judge Eric L. Frank granted a discharge of approximately $29,760.00 in student loans. The Brunner Test Section 523(a)(8) provides that student loans are dischargeable if they impose an undue hardship on the debtor and the debtor’s dependents.” 11 U.S.C. § 523(a)(8). A debtor seeking to discharge her student loans must prove that: (1) based on current income and expenses, the debtor cannot maintain a “minimal” standard of living for herself or her dependents if forced to repay the 

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You Deserve a Fresh Start in 2014

The New Year is a good time to evaluate your financial house and consider whether getting a fresh start by filing bankruptcy is the best option for you. If you have too much debt or feel like you are way over you head in bills, bankruptcy may be right solution for you to get a fresh financial start in 2014. Bankruptcy wipes out all credit card bills, medical bills, and personal loans. It even erases deficiencies on short sales and repossessed vehicles. Filing bankruptcy initiates a Court ordered “automatic stay.” The automatic stay immediately stops your creditors from trying to 

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Discharging Cyber Monday Purchases in Bankruptcy

Thanksgiving and Black Friday shopping brought in an estimated $12.3 billion in sales, according to shopping analytics firm ShopperTrak. Overall spending was expected to reach $57.4 billion for the weekend, according to the National Retail Federation. Can You Discharge Recent Shopping Purchases in Bankruptcy? The best advice is to consider limiting your shopping to a minimum to avoid any problems with your upcoming chapter 7 bankruptcy case. There are also a few guideposts to consider contained within the bankruptcy code itself: 1. Cash advances in excess of $875.00 within seventy (70) days of the bankruptcy filing, are nondischargeable. 2. Purchases 

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What happens in a Chapter 7 bankruptcy case?

Chapter 7 bankruptcy cases are usually straightforward. On rare occasions, complications arise if creditors take aggressive action, if the trustee thinks you are hiding assets, or if you want to challenge creditors’ claims. Who can file? Any individual who lives in the United States or has property or a business in the United States can file a chapter 7 bankruptcy. If you received a chapter 7 bankruptcy discharge within the past eight years, you are disqualified from receiving a discharge in chapter 7. A similar disqualification may also apply if you received a discharge within the past six years in 

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Is Bankruptcy the Right Choice for You?

1. Bankruptcy may be the easiest and fastest way to deal with all types of debt problems. Bankruptcy is a process under federal law designed to help people and businesses get protection from their creditors. 2. Most bankruptcy cases are complicated. You should consider getting professional help. Bankruptcy is a legal proceeding with complicated rules and paperwork. You may want to get professional legal help, especially if you hope to use bankruptcy to prevent foreclosure or repossession. Dunne Law Offices, P.C. provides a free consultation to help you decide whether bankruptcy is the right choice. 3. Bankruptcy temporarily stops almost 

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Defenses To Foreclosure

Foreclosure is a harsh legal process and, when you are threatened with foreclosure, you should immediately try to obtain legal help. Foreclosure can move very quickly. One advantage of exercising your legal rights is that you can slow down the process. In the short term, delay can be helpful because it will give you more time to put into place a long-term solution to the problem. You cannot properly delay foreclosure just because you need more time. The actions you take must be based on some underlying legal claim or defense which is raised in good faith. Procedural Defenses May 

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Avoiding (Getting Rid of) Liens in Chapter 7 Bankruptcy

Lien avoidance is a powerful and important tool available in Chapter 7 bankruptcy. If you have liens recorded against your property, you may be able to get rid of them through lien avoidance. What Is a Judgment Lien? A judgment lien is created when someone wins a lawsuit against you and records the judgment against your property. A judgment lien is a type of nonconsensual lien (a lien that attaches to your property without your agreement). It is created when someone wins a lawsuit against you and then records the judgment against your property. How Is a Judgment Lien Created? 

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