Deciding to file bankruptcy is not a decision you should make lightly. It will have a severe impact on your credit score and may take many years to recover from. For this reason, filing bankruptcy should usually be your last option. However, if you’ve accumulated massive amounts of debt and do not have the income to begin making payments, filing for a Chapter 7 bankruptcy could be your best move.
Category Archives: Chapter 7
How to Determine Your Eligibility for Chapter 7 Bankruptcy in the Bronx
Once you determine bankruptcy is your best option, you will have to decide which type of bankruptcy to file. Chapter 7 is the most common type of bankruptcy filed by individuals in the Bronx. However, not everyone is eligible. One issue that greatly influences your eligibility is your income.
Differences Between Chapter 7 and Chapter 13 Bankruptcy
An experienced Bronx bankruptcy attorney can review your debt and finances and determine if Chapter 7 or Chapter 13 is best for your situation.