When you make the decision to file for bankruptcy, you must decide between Chapter 7 and Chapter 13. If you currently have little to no disposable income, Chapter 7 may be the more favorable choice because it discharges most debt. Here are five good reasons to consider Chapter 7 bankruptcy:
You Will Not Have a Repayment Plan
One of the best aspects of Chapter 7 bankruptcy is that you are not required to pay back any of your debt.
A divorce lawyer is going to be the single most useful individual at your disposal in the event that you are getting divorced or have been recently divorced. Listed below are just two ways that a divorce lawyer can assist you.
Easier Divorce Process
One major way that a divorce lawyer can assist you is by giving you access to an easier divorce process than going to court. By agreeing to mediation you and your spouse can take a lot of the stress and anger out of the divorce process.
If you've never filed a Chapter 7 bankruptcy before, you could be terrified about your first meeting in court. Relax. If everything goes right, it's the only time you'll probably have to appear and you'll probably only be there a few minutes.
The Meeting Of Creditors
The meeting that you go to is called a "meeting of creditors" or a 341 meeting. It's a fairly informal process, although you will be required to answer questions under oath.