By Tucker Griffin Barnes | Published June 1, 2023 | Posted in Bankruptcy Attorney | Tagged Tags: Chapter 7 and 13 Bankruptcies | Comments Off on Understanding the Difference Between Chapter 7 and Chapter 13 Bankruptcies
Understanding the Difference Between Chapter 7 and Chapter 13 Bankruptcies
Introduction: Bankruptcy is a legal process that offers individuals and businesses overwhelmed by debt a fresh start. Under the United States Bankruptcy Code, two common types of bankruptcies are Chapter 7 and Chapter 13. While both aim to provide relief from debt, they differ in their approach and eligibility criteria. In this blog post, we Read More
Filing Bankruptcy On Student Loans
Federal and private student loans are difficult but not impossible to discharge in bankruptcy. To successfully discharge the debt, you will need to show that repayment poses an undue hardship. Recent changes to the bankruptcy discharge process are designed to reduce the burden on federal student loan borrowers and make the process more consistent. This Read More
Bankruptcy Law Changes: Student Loan Debt Discharge Is Now Easier for Borrowers
Student loan debt is one of the most significant financial burdens faced by Americans today, with more than 43 million people in the United States owing a total of $1.7 trillion in student loans.[1] To alleviate this financial crisis, bankruptcy laws have undergone significant changes that may make it easier for borrowers to discharge their Read More
Could the COVID-19 Pandemic Lead to the End of Medical Bankruptcy?
In the middle of an election year where healthcare is already a hotly debated issue, the COVID-19 pandemic has stirred further discussion about whether major changes are necessary. During the Democratic presidential primary, the concept of Medicare for All split the candidates. While the candidate who promoted that concept has since dropped out of the Read More
Reasons to Convert from Chapter 13 Bankruptcy to Chapter 7 Bankruptcy
Although most people only have to file for bankruptcy once, sometimes people who originally file for Chapter 13 need or want to convert to Chapter 7 bankruptcy. There are also certain situations where the court will force a debtor to switch to Chapter 7. You can convert from Chapter 13 to Chapter 7 at any Read More
WHAT ARE THE DIFFERENT TYPES OF BANKRUPTCY?
“I need to file for Bankruptcy, but I don’t know which one.” We hear that a lot. The following is a short explanation of the four basic types of bankruptcy. Please contact our Bankruptcy attorney, Shannon Morgan, if you need help. What are the Different Types of Bankruptcy? The Bankruptcy Code provides for four different Read More
