Many cultural attitudes about bankruptcy reflect widespread misinformation. People tend to think of those who file for bankruptcy as irresponsible, but that is often not the case. While there are some people who misuse credit cards and use bankruptcy to shirk...
Serving Clients Throughout South Mississippi For Over A Decade
Bankruptcy
What are the exemptions for Chapter 7 bankruptcy in Mississippi?
The realization that you have more bills than money is hard to accept. For some people, filing for bankruptcy is the only way they can regain control their finances. Chapter 7, which is known as liquidation bankruptcy, is one option that is available for those who...
Will last December’s spending affect your bankruptcy case today?
You knew at the end of last year that you were experiencing a bit of a financial crunch, but you didn’t think it was that bad. You really thought everything would work out. In any case, you now know that you’re going to have to file for Chapter 7, but you’re haunted...
What is an automatic stay in bankruptcy?
The automatic stay in bankruptcy is a fundamental component of the process. It provides immediate relief to individuals filing for bankruptcy. It goes into effect the moment a bankruptcy case is filed, but it’s possible that creditors might file to have this waived....
Can bankruptcy protect a home or a financed vehicle?
Some of the most valuable assets people own are too expensive for them to purchase directly. Vehicles and real property are both excellent examples. Individuals often cannot afford to make a cash purchase of a home or a vehicle, so they must apply for financing. The...
How long does personal bankruptcy affect someone’s credit?
Personal bankruptcy exists to help people regain control of their finances and move past a short-term period of financial hardship. Without bankruptcy, a job loss or medical emergency could cause someone to struggle financially for the rest of their life. Bankruptcy...
What kinds of debt can I discharge through bankruptcy?
Many people see consumer bankruptcy as a cure-all for their debt problems. While it's true that you can eliminate or greatly reduce many common kinds of debt through Chapter 7 and Chapter 13 bankruptcy, some debts are not eligible. You will almost certainly have to...
How should you choose between Chapter 7 and Chapter 13 bankruptcy?
If you’re facing financial difficulties and considering bankruptcy as an option, you’re not alone. Bankruptcy gives individuals and businesses a fresh financial start when overwhelmed by debt. Two of the most explored types of bankruptcy are Chapter 7 and Chapter 13....
3 key differences between Chapter 7 and Chapter 13 bankruptcy
There are many different types of bankruptcy, each of which can be useful under different circumstances. The average person struggling financially and contemplating bankruptcy may be in a position to choose between Chapter 13 and Chapter 7 bankruptcy proceedings. The...