Posts tagged "Chapter 13 bankruptcy"

Graduation season may inadvertently invite financial challenges

In Mississippi and across the nation, during the month of May the minds of many are on school - in particular, graduation. By mid-May, many college seniors have already graduated and countless high school seniors are likely eagerly anticipating their own upcoming graduations. While the time is typically a hopeful one, there may be accompanying financial challenges that can cause families to review their money situation and take serious stock of their financial future.

What happens at the end of a Chapter 13 repayment plan?

Those who find themselves in need of debt relief may consider filing for Chapter 13 bankruptcy. Unlike Chapter 7, which provides a discharge of eligible debts via liquidation, Chapter 13 entails a repayment plan for eligible debts. Southaven residents may have questions about the benefits of Chapter 13, as well as about the actual bankruptcy process itself. One common question regarding Chapter 13 is: what happens at the end of the repayment plan?

An experienced advocate ready to help with Chapter 13

The number 13 is often considered unlucky; for those struggling with debt in Southaven, though, 13 may prove to be a positive number. Residents seeking a solution to their financial challenges may find it in Chapter 13 bankruptcy, which helps individuals put a lid on mounting debt and effectively tackle existing debt.

How does a Chapter 13 bankruptcy satisfy Mississippi creditors?

Choosing between the two primary types of individual bankruptcy is not so simple of a task for Mississippians. With the advice of a qualified Mississippi bankruptcy attorney, a person in need of debt relief can select a type of bankruptcy that is most appropriate for their needs. For many residents of Southaven, this may be Chapter 13 bankruptcy.

Navigating the Chapter 13 bankruptcy process

When a Mississippi resident decides that personal bankruptcy is the right solution for them, they will likely need to first decide which type of bankruptcy to file. An individual in need of debt relief may file Chapter 7, which involves asset liquidation, or Chapter 13, which involves adhering to a repayment plan concerning a portion of eligible debts.

Key qualifications for Chapter 13 bankruptcy

Filing for bankruptcy is one of the most important decisions that some individuals may ever make. When an individual or business is in dire need of debt relief, bankruptcy can almost immediately alleviate the burden. For individuals who decide bankruptcy is right for them, deciding whether to file for Chapter 7 or Chapter 13 can be crucial.

Link between Medicaid status quo and bankruptcy

In many states across the country, the Medicaid expansion has brought forth both praise and criticism. Mississippi decided not to participate in the Medicaid expansion, and not surprisingly, this move has also had both supporters and detractors. Some believe that the state's refusal to expand the healthcare program will negatively affect struggling residents who have unpaid bills related to medical expenses.

Can an employer "punish" a worker for bankruptcy?

The relationship between financial challenges and a Mississippi resident's work situation is often very close. If a person loses their job, their urgency in finding debt relief is bound to increase tremendously. If someone is being hounded by creditors, that person may be concerned that creditors will start tracking them down on the job. If a person files for bankruptcy, they may wonder what effect, if any, their decision will have on their employment situation.

When is Chapter 13 more appropriate than liquidation?

One of the first questions any Mississippi resident may have about personal bankruptcy is what is the difference between Chapter 7 and Chapter 13 bankruptcy? Both types are used by individuals to obtain debt relief and a fresh financial start. However, there are key differences between the two that many debtors are unaware of until they are pondering bankruptcy for themselves.

Debt repayment timing can answer question of bankruptcy

Two of the most common questions surrounding bankruptcy are whether or not a person should file in the first place and, if so, what type of bankruptcy he or she should declare. One extremely important consideration when it comes to personal bankruptcy in Mississippi is the matter of timing. There are countless other factors, of course, that should go into such a serious decision. Nevertheless, the timing of debt repayment and the filing itself is of the utmost importance in answering bankruptcy-related questions.

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