Category: chapter 7 bankruptcy Page 2

Tackling unmanageable debt through Chapter 7 bankruptcy

Perhaps it is credit card debt combined with high interest rates that has become unmanageable. Or, perhaps, a major illness has resulted in ever-mounting medical ...

What makes a debtor eligible to seek Chapter 7 bankruptcy?

Facing overwhelming debt can take over every aspect of an individual’s life. The stress of constant calls from creditors, threats of repossession, the possibility of ...

What is the relationship between tax debt and Chapter 7?

Last week this blog discussed the extremely narrow circumstances in which a debtor in Long Island could seek to have his or her student loans ...

What is the means test for qualifying for Chapter 7?

Long Island residents who are facing significant financial hardships have many options available to obtain debt relief. Among these alternatives is filing for bankruptcy. One ...

Exempt and non-exempt property in Chapter 7 bankruptcy

Chapter 7 bankruptcy is geared toward individuals who have a high amount of unsecured debt that they are unable to keep up with. It allows ...

Chapter 7 bankruptcy does not wipe out second mortgages

Readers of this Long Island bankruptcy blog may have a general understanding of what happens in the two major forms of personal bankruptcy. Under a ...

How to determine eligibility for Chapter 7 Bankruptcy

Filing for Chapter 7 bankruptcy enables people struggling with severe financial hardship to obtain a liquidation of their debts and a fresh financial start. Also ...