Monthly Archives: February 2025
Are Chapter 7 and Chapter 13 Different?
In some ways, these two kinds of consumer bankruptcy are significantly different. In other ways, they’re exactly the same. In a nutshell, these two matters end the same way. All filers receive a fresh financial start. The main differences between Chapter 7 and Chapter 13 lie in the nuts and bolts of each procedure…. Read More »
How to Get a 700 Credit Score After Chapter 7
The tips discussed in this post should help most former Chapter 7 debtors reach a 700 credit score, which is in the “good risk” range, within four years of discharge. This seemingly impossible goal is possible largely because, contrary to popular myth, a bankruptcy filing does not “ruin” a credit score. Since bankruptcy simply… Read More »
What is the Student Borrower Bankruptcy Relief Act of 2024?
This proposed legislation would make student loans dischargeable in bankruptcy just like any other unsecured debt. But it faces an uncertain future. On September 30th, House Judiciary Committee Ranking Member Jerrold Nadler and Subcommittee on Administrative Law, Regulatory Reform, and Antitrust Ranking Member Lou Correa re-introduced the Student Borrower Bankruptcy Relief Act of 2024…. Read More »
What are the Most Common Reasons for Bankruptcies?
Most people file bankruptcy because they want and/or need a fresh start. The Supreme Court has made it clear that this fresh start is available to honest yet unfortunate debtors. Honest debtors don’t have gambling debts or obligations related to illegal or illicit activities, like substance abuse or fraud. That’s why these debts usually… Read More »
