Rebuilding credit after Chapter 7 liquidation bankruptcy is not impossible. It may take some time and you will initially pay higher interest rates for credit, but there are some steps you can take that may soon put you back in the good graces of creditors.
Chapter 7 Bankruptcy is designed to provide relief to people who, without question, cannot pay their debts. To meet this standard, the law requires you to prove that you sincerely do not have the means to pay your debts. This does not mean you have to be completely broke in order to f
Bankruptcy is the process whereby the federal bankruptcy court either eliminates all consumer debt or approves a repayment plan proposed by the debtor. There are several different chapters of the bankruptcy code that allow for the discharge of debts. Which one works for you depends on
Chapter 7 bankruptcy is referred to in the Bankruptcy Code as liquidation bankruptcy. This is based on the authority of the bankruptcy court to sell your assets in order to pay your creditors. In reality, federal and state laws allow certain types of property to be exempt from a bankr
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Attorney Stephen L. Burton
Stephen Burton has served as an attorney for bankruptcy trustees, taught bankruptcy at the National Business Institute and practiced before the bankruptcy courts. He regularly attends continuing education classes. As a consequence, virtually every case he files is successful. Read More...