Evidence is building that more and more often, medical bills are pushing people into bankruptcy.

Debts that Survive a Chapter 7 BankruptcyThere are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion of the debts unless there are unexempt assets that the trustee divides among your creditors. In a Chapter 13 the repayment plan will most likely provide for some portion of the debts to be paid back.

What is a Chapter 7? What is a Chapter 11? What is a Chapter 12? What is a Chapter 13?What is a Chapter 7?Chapter 7 is the most popular type of bankruptcy. In a Chapter 7 bankruptcy, you must fully disclose your property, debts and financial activities over the several years prior to the filing of the bankruptcy.  Typically three months after the case is filed, you receive a discharge of most of your debts with exception of certain nondischargeable debts.What is a Chapter 13?Chapter 13 is a reorganization for individuals.

What Happens to my Credit Cards when I File Bankruptcy? The quick answer is that it depends. It depends on the status of your accounts. Your credit cards likely fall into one of these three categories:Cards on which you have a zero balance

Debts that Survive a Chapter 13 BankruptcyThere are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion of the debts unless there are unexempt assets that the trustee divides among your creditors. In a Chapter 13 the repayment plan will most likely provide for some portion of the debts to be paid back.

How Will the Bankruptcy Affect Me? I am Filing Bankruptcy: Will I Lose My Job? No employer may fire you because you filed bankruptcy. In addition, an employer cannot discriminate against you in other terms and conditions of employment; reducing salary, demoting you, or taking away responsibilities because of a bankruptcy. However, if there are other valid reasons for taking these actions, then the bankruptcy will not protect you.

Why Do I Have to Take a Pre-Filing Bankruptcy Class and a Pre-Discharge Class? Why do I have to complete a pre-filing class? Before your bankruptcy can be filed, you must complete a credit counseling session. The cost ranges from $10.95-$50.00. The agency provides a certificate of completion that must be filed with the bankruptcy petition, schedules, and statements. The course is available online, over the phone, and through the mail. The agency must be approved by the U.S.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 09, 2013 Bankruptcy trustee wants to sell Casey Anthony’s life story Doctors driven to bankruptcy Greensboro mayor is $10.8 million in debt, bankruptcy records show

For consumers considering bankruptcy protection, you may be unaware of the credit counseling requirement needed in order to file your petition.  There is also a financial management courses that are required in order for debts to be successfully discharged.  Many may not be fully aware of the second course requirement since it is different from [...]