Many people who struggle with mounting debt do not consider filing for bankruptcy because they worry about losing their property. In fact, you can keep many assets when you file for Delaware bankruptcy, including equity in your home. Review the common bankruptcy exemptions in Delaware if you are seeking solutions for your debt. Home and […]
Wilmington Delaware Legal Blog
Category: Bankruptcy
Is it possible to rebuild your credit after bankruptcy?
There are many myths about bankruptcy, but one of the most common is that filing for bankruptcy will leave you unable to rebuild your credit. The truth is that bankruptcy can damage your credit score and your bankruptcy filing will stay on your credit record for seven to ten years after you file. However, rebuilding […]
The differences between Chapter 7 and Chapter 13 bankruptcy
Bankruptcy is often a helpful solution for people who are buried under the burden of massive financial debt. While these options have the potential to free people from this debt, you need to be sure you choose the correct bankruptcy option for you. Knowing the differences between the two most common forms of personal bankruptcy, […]
Over half of Americans filing for bankruptcy are clearing medical debt
Medical treatment is rarely optional, just like the bills afterward. And with the costs of care on the rise with no sign of slowing down, you aren’t the only one considering bankruptcy. The number of Americans over the age of 65 who declared bankruptcy is up 204% over the last two decades, according to a […]
Should You File for Bankruptcy?
What to know about bankruptcy options chapters, so you can choose what’s best for you. Chapter 7 Bankruptcy… Chapter 11 Bankruptcy… Chapter 13 Bankruptcy … Which to choose? The decision depends on a number of factors, and, that said, this overview will give you an idea of which chapter is best before you consult with […]
Does my life stop if I file for Bankruptcy?
Short answer, No. Simply because you have decided to file, or are considering filing a Chapter 7 or Chapter 13 Bankruptcy, does not necessarily mean you have to stop living your life. In fact, it’s just the opposite. The purpose behind bankruptcy is to give you a fresh economic start allowing you to start living […]
Debt Settlement vs. Bankruptcy
Debt settlement companies attempt to significantly reduce borrower’s debts by negotiating directly with creditors to create a repayment plan on behalf of a debtor. As part of the plan, a borrower agrees to pay creditors a new rate of interest over an extended period of time. The debt settlement plan restructures rather than eliminates the […]
What You Really Need to Know about Bankruptcy
Carried away by the holiday spirit and now find yourself crash landing on a pile of debt? Do you see yourself chipping away at that debt for years without standing on solid financial ground? Well then, it’s time to talk about options, including bankruptcy. First off, know this: bankruptcy should not carry any stigma or […]
Can The Bank Take My Money If I File For Bankruptcy?
Banks generally cannot take your money just because you have filed a Chapter 7 or Chapter 13 Bankruptcy. When your petition is filed an automatic stay goes into effect an all activity to collect on any debts you have must stop. This includes phone calls, letters, foreclosures and most asset seizures and garnishments. Also included […]
Chapter 13 Bankruptcy and Tax Returns
When you file for Chapter 13 Bankruptcy in Delaware, in addition to the required paperwork and petition with the court, there are also necessary documents which must be provided to the Chapter 13 trustee. Various jurisdictions, districts, and trustees, can have different policies regarding the documents which must be provided, but every debtor, regardless of […]