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Chapter 7 Archives

Can you file Chapter 7 or Chapter 13 bankruptcy more than once?

While recent reports indicate that the economy has improved, there remain many Connecticut residents and others around the country that continue to struggle to pay their bills each month. While certainly not the first course of action, some consumers make the decision to file for either Chapter 7 or Chapter 13 bankruptcy. Having the "clean slate" that bankruptcy often provides gives the impetus to get one's finances in order. However, things do not always go as hoped and some individuals may be wondering if they could actually file for bankruptcy a second time.

Former Top Chef champion files for Chapter 7 bankruptcy

Many Connecticut residents struggle with their finances. While some homeowners or business owners may be feeling "on top of their games," others are struggling to keep their heads above water. For the latter, Chapter 7 bankruptcy might be an option to prompt immediate debt relief and lay the groundwork for getting finances back on track.

After holiday spending, is Chapter 7 the right option?

Many Connecticut consumers spend a significant amount of money during the holiday season. Starting after Thanksgiving, there is a sharp increase in gift purchases, and many of them are made by credit card. After Christmas shopping and holiday spending, some people may not be able to manage their debt properly. In some circumstances, Chapter 7 bankruptcy may help.

Does filing Chapter 7 or Chapter 13 affect bank accounts?

There have been many signs that the economy is improving nationally, thus creating positive financial outlooks for many Connecticut residents and others around the country. However, for others, there have been continuing monetary hardships with little hope for recovery. Some consumers elect to file for Chapter 7 or Chapter 13 bankruptcy to wipe the slate clean and get a new start with their finances. Regardless of the type someone files, there will be questions about the bankruptcy process and how it may affect one's financial situation.

Understanding the process of Chapter 7 bankruptcy

Debt is one of the most challenging issues facing most American families. Here in Connecticut and elsewhere in the country, hundreds of thousands of families are facing insurmountable debt in the form of credit cards, medical expenses and more. Thankfully, a Chapter 7 bankruptcy filing can help to relieve that financial pressure by forgiving some debts and helping to repay others.

Court rules assets not protected in Chapter 7 bankruptcy case

Some Connecticut residents and others across the country have elected to file bankruptcy to confront overwhelming financial burdens responsibly and to get a fresh start on their finances. Many choose to file for Chapter 7 bankruptcy, where an individual's nonexempt assets are sold to pay creditors. There are certain assets that are determined to be protected and are not used for the payments to creditors. Recently, a dispute over what assets are protected occurred in one of the country's Bankruptcy Court of Appeals.

Will I have to sell off all my stuff in Chapter 7 bankruptcy?

Seeking debt relief through bankruptcy can be a difficult but positive experience for most people. However, individuals who file for Chapter 7 bankruptcy may worry about having to hand over all of their assets in order to satisfy their debts. While it is true that some property will be sold, people in Connecticut are often pleasantly surprised to find out just how much they will get to keep. 

How to decide what to file - Chapter 7 or Chapter 13?

Many Connecticut residents and others all across the nation are struggling with their finances. Despite an improving economy with lower unemployment, high levels of debt create a significant strain to a great number of families. Some consumers may decide that filing for bankruptcy is the decision that can help them start afresh and get their finances back in order. However, it may be difficult to determine whether to file for Chapter 7 or Chapter 13 bankruptcy.

Increase in senior citizens filing for Chapter 7 bankruptcy

In most cases, senior citizens in Connecticut and throughout the country look forward to their retirement years. Plans to travel, spend time with family or take up a new hobby are prevalent in the minds of many on the cusp of leaving the daily grind of work. However, for an increasing number of retirees, their financial situations will not allow them to experience retirement the way they had imagined. Filing for Chapter 7 bankruptcy has become a reality for those hoping to ease their financial burdens.

Handling debt through Chapter 7 and other means

There are many reasons why Americans can fall into debt. Sometimes, it can be a question of poor planning or financial habits, but for many Connecticut residents, unexpected circumstances like divorce or loss of a job can also cause debt to mount. Thankfully, there are a variety of ways to reduce debt, from credit counseling to Chapter 7 bankruptcy.