Chapter 7

Chapter 7 Bankruptcy From Beginning to End

One of the first things those who are considering bankruptcy want to know is how the process of bankruptcy works. The purpose of this brief article is to review, in layman’s terms, the procedural aspects of a bankruptcy proceeding from the time one first meets with an attorney at Lincoln Law to the time his debts are discharged. My focus will be on Chapter 7 bankruptcy.

Why to change your bank account before filing

Submitted by crg on Tue, 10/26/2010 - 4:26pm

You have probably already heard that you cannot pick and choose whom you include in your bankruptcy case. Everybody is included. That includes creditors that you like, and sometimes people that you do not often think about as creditors like your bank.

Carl Gustafson's blog

5 Reasons to Look Forward to Your 341 Meeting

Submitted by mlg on Tue, 05/25/2010 - 5:18pm

One of the most unnecessary stressors for a bankruptcy client is anxiety about the 341 meeting. Here are five reasons to be excited about the 341 meeting.

1. It won't take long. Most 341 Meetings will only last 3-5 minutes. The trustee will usually ask a few (yes, only a few) questions regarding your case, most of which are routine.

Five Steps To Help Avoid Bankruptcy

According to a 2008 survey by the American Payroll Association, 71 percent of American workers are living paycheck to paycheck. If you are one of the many who live paycheck to paycheck, or if you have fallen behind, here are some tips that can help you get back on track:

Eliminate Your Medical Debt

Unexpected debts from medical bills can happen to anyone.

Medical Bills Debt in Northern California

If you are struggling with medical bills, you are not alone. In fact, the average out-of-pocket medical costs for all medically bankrupt families was $17,943 (American Journal of Medicine, 2009).

Eliminate Your Credit Card Debt

Credit card debt can happen to anyone.

Credit Card Debt in Northern California

If you are struggling with credit card debt, you are not alone. In fact, the average American household has $8,329 in credit card debt (Nilson Report, April 2009). With the unemployment rate at 9.5%, many Americans are using their credit cards to help make ends meet.

What Is A Chapter 7 Bankruptcy?

During these uncertain times, many hard-working Americans find themselves overwhelmed by financial problems. It can happen to the best of people, no matter what tax bracket they qualify for. If you or anyone you know find yourself in these circumstances, it is crucial that all options of relief are considered. However, most people find that filing for Chapter 7 bankruptcy is the best alternative for financial relief.

How It Works

The Benefits of Bankruptcy

After the current bankruptcy law went into effect in 2005, many people were left with the impression that bankruptcy relief was no longer available or too difficult to obtain. Nothing could be further from the truth.

The Myths of Bankruptcy

Like most formidable situations, bankruptcy has earned its reputation based on very few truthful facts and too many false embellishments. The majority of the myths about bankruptcy have begun since the current bankruptcy laws went into effect in 2005. But have no fear, once you know the facts, filing for bankruptcy is not nearly as terrifying as it first appears. Here are some of the most common myths about bankruptcy and what you need to know before you clean your slate.

Myth #1: It is difficult to file for bankruptcy.

What should I look for in a bankruptcy attorney?

You should find out the experience level of your prospective attorney. Ask how many bankruptcy cases they deal with a year and how long have they have practiced bankruptcy law. Additionally, they should be honest, efficient, and have a great reputation.