Types of Bankruptcies: What Is the Difference Between Chapter 7, Chapter 11 and Chapter 13?

Bankruptcy is an ancient right. Medieval church law provided for the discharge of debt in exchange for the liquidation of all but one’s necessary assets. This led to the enactment of the first bankruptcy laws in merry old England. It was also a precursor to our modern Chapter 7 bankruptcy law. But even that advancement [...]


How Much Does It Cost to File Bankruptcy?

Most people contemplating bankruptcy obviously are in a financial bind. As a result, it is natural that one of the questions they ask of a bankruptcy attorney is the following: How much does it cost to file bankruptcy? The desire to keep the cost as low as possible is understandable. However, those considering bankruptcy should [...]


What Are the Benefits of Chapter 13 Wage Earner Plan?

Although most folks looking for relief from overwhelming debt would prefer the “quick and dirty” Chapter 7 discharge, there are several reasons why filing under Chapter 13 and making payments for 3-5 years might be preferable. Of course, those households with over-the-median income will likely have to file a Wage Earner Plan anyway and may [...]


How Do I Fix My Credit After Bankruptcy?

Everyone who walks into my office presumes that their credit score will be irretrievably ruined for years to come as a result of their bankruptcy. I am always happy to tell them, “Stop listening to the doomsayers and panicky prognosticators!” Even though the court filing will stay on your credit report for 10 years, that [...]


What Are the Benefits of Chapter 7 Bankruptcy?

Many clients ask about the differences between the various chapters in bankruptcy and whether they have a choice in determining under which chapter they will file. The answer is, as in many things in life, it depends. Qualifying for a Chapter 7 case (liquidation) will require that either: the debtor’s household income falls below the [...]


Chapter 11: What If I Don’t Qualify for Chapter 7 or Chapter 13?

What if you make too much money for a Chapter 7 and run afoul of Chapter 13 limits? You may have to file under Chapter 11. A bankruptcy attorney at Benson Law Firm can help you consider your options. If you make more than the median income for your household size and cannot pass the [...]


Why is Chapter 7 an attractive option? Its QUICK!

In our office, it usually takes around three months from our filing a case to a debtor receiving their order of discharge that permanently releases his or her debts. This is far less time in bankruptcy than your typical Chapter 13 case, which customarily lasts between three and five years. This brief period makes Chapter [...]


5 Mistakes Bankruptcy Clients Make In Picking A Cleveland Bankruptcy Attorney

Cleveland Bankruptcy Attorney discusses 5 Mistakes Bankruptcy Clients Make In Picking A Bankruptcy Attorney There are many common bankruptcy client mistakes... Selecting a Cleveland bankruptcy attorney who does not have the appropriate level of familiarity with bankruptcy, debt settlement, mortgage foreclosure, divorce, debilitating injuries and vehicle titling. Although bankruptcy should be the main focus of your [...]

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