Wilmington Delaware Legal Blog

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 […]

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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 […]

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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 […]

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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 […]

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Modern Day Bankruptcy: It’s not what you think

Bankruptcy… not a word you like to think about… but, maybe you should. Because bankruptcy can help you get you back on your feet after a financial crisis. Contrary to popular belief, bankruptcy can help you: • Recover from financial disaster; • Reestablish credit; • Keep your 401K, rather than using it to pay bills; […]

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How To Use Bankruptcy As A Financial Management Tool

For many people, the word “bankruptcy” means a desperate last resort by someone who is down on their luck and struggling to pull themselves out of dire financial straits. The stigma surrounding bankruptcy is pervasive and real … and totally untrue. The truth is that bankruptcy is an effective financial management tool, a viable alternative […]

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