Monthly Archives: May 2019

Difference between Chapter 7 and Chapter 13

Bankruptcy - the Difference between Chapter 7 and Chapter 13 There are over a thousand pages of the bankruptcy code, so below is a simple explanation of Chapter 7 and Chapter 13, the two main types of bankruptcy that individuals file. What Are Chapter 7 and Chapter 13? When individuals file for bankruptcy, it is usually Chapter 7 or Chapter 13. Individuals may also file Chapter 11, but it is generally for corporations with very large debts. Chapter [...]

By |2019-08-13T11:20:40+00:00May 28th, 2019|Categories: Bankruptcy|Comments Off on Difference between Chapter 7 and Chapter 13

Filing for Bankruptcy Is the Right Solution

When Filing for Bankruptcy Is the Right Solution We are often asked if filing for bankruptcy in Arizona is the right solution for me. Being in debt is a way of life for many Americans. This notion is further reinforced by the fact that debt levels have actually hit new highs. Take a look at the numbers: The Federal Reserve Bank of New York reported that overall household debt, which includes credit cards, student loans, and mortgages, was at [...]

By |2019-07-24T21:34:17+00:00May 23rd, 2019|Categories: Bankruptcy|Comments Off on Filing for Bankruptcy Is the Right Solution

341 Meeting of Creditors in Bankruptcy

What Is the 341 Meeting of Creditors in Bankruptcy? If you are considering filing bankruptcy, you must understand the bankruptcy process and the nuances involved.  One such important activity is the meeting of creditors, an important part of every Chapter 7 and Chapter 13 bankruptcy case. The meeting of creditors is scheduled by the clerk of the bankruptcy court shortly after a bankruptcy case is filed. It is also called the 341 hearing (because it is required by [...]

By |2019-07-24T21:22:47+00:00May 13th, 2019|Categories: Chapter 7 Bankruptcy|Comments Off on 341 Meeting of Creditors in Bankruptcy