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Knowing what not to do when filing for bankruptcy is just as important as learning what you need to do. Making mistakes in the bankruptcy process can cost you time, money, and even your car or home. An experienced DebtStoppers bankruptcy attorney can help you avoid these common mistakes people make when filing for bankruptcy…

In Florida, there are two chapters of consumer bankruptcy that an individual normally files: 7 and 13. Chapter 7 will quickly and easily wipe out your unsecured debts such as credit cards and personal loans. Chapter 13 is a debt repayment plan where your debt will be reduced and reorganized into a 3-to-5 year payment plan. This type of bankruptcy is meant for people who cannot pay all their debts despite…

Repossession is the process through which the lender, bank, or other creditor reclaims possession of an automobile from a borrower who has defaulted on their loan. Repossession is legal because the contracts for most auto loans provide that the vehicle being purchased will serve as collateral to ensure the buyer fulfills their end of the agreement. This means that under Illinois law, a lender can take back your…

Many people worry about how filing bankruptcy in Texas will affect their property, and one question that often comes up is, “can I keep my car?” Each state permits people who file for bankruptcy to save certain “exempt” assets when filing, including motor vehicles. In fact, Texas law allows your household to exempt the total value of one car per…

As an individual in Illinois, bankruptcy laws allow you to file for two different types: 7 and 13. With Chapter 7, you can wipe out your unsecured debts entirely, whereas Chapter 13 requires you to make monthly payments towards your debt over the course of 3 to 5 years…

In the state of Florida, child support payments are not directly affected by bankruptcy. No type of filing can eliminate your ongoing obligations, discharge your past-due support debt, or force the modification of a family court order…

It is often assumed that medical debt cannot be discharged in bankruptcy, but actually, this is not the case. The truth is that, in Michigan, you can include your healthcare bills in your Chapter 7 or Chapter 13 filing. In fact, the bankruptcy process…

Foreclosure is the process of a bank or lender retaking possession of a property after its owner falls behind on their mortgage payments. In Georgia, there are two types of foreclosures: judicial and non-judicial. However, regardless of …

If you, like many others, are experiencing financial hardship and have defaulted on your auto loan, it is likely that your car will be repossessed. Repossession occurs when the lender reclaims a financed motor vehicle …

Many people who could benefit from the debt protections offered by bankruptcy are afraid to file due to common misconceptions about the process. One of the most widespread misunderstandings is the idea that you will lose everything you own if you file for bankruptcy. The truth is, you…