Bankruptcy Basics

If you're considering bankruptcy chances are you're under a lot of pressure. That can complicate the process of figuring out what's best for you.

We're here to help, with answers to common questions, and easy-to-follow discussions of the issues you need to pay attention to. If you find this helpful, or need some clarification feel free to get in touch with us.

The Hidden Dangers of Credit Card Debt

Posted by Craig Black | May 15, 2025 | 0 Comments

Credit card debt can serve as a life raft when funds are tight. You can charge everyday expenses like groceries and fuel with the promise of paying it back later. But if you don't pay off that balance every month, your debt can quickly add up until, before you know it, you're paying out a fortune...

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What Is Lien Stripping and How Can It Save Your Home?

Posted by Craig Black | Apr 15, 2025 | 0 Comments

Bankruptcy can be challenging, particularly if your finances are complicated. For those with second mortgages or home equity loans, it's only natural to wonder what will happen to that debt if you file. In some cases, you may be able to remove a second mortgage from your home in a process known a...

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What Happens If You Miss a Chapter 13 Payment?

Posted by Craig Black | Mar 24, 2025 | 0 Comments

Filing for Chapter 13 can be a great way to get out from under overwhelming debt. But this type of bankruptcy requires you to make regular payments on a repayment plan in addition to your ongoing expenses like rent, groceries, and childcare. If your financial circumstances change, though, making...

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What to Do If You Can’t Afford Your Chapter 13 Payments

Posted by Craig Black | Mar 17, 2025 | 0 Comments

Falling behind on your bills can cause problems, but falling behind on Chapter 13 payments can come with serious consequences. If you can't afford your repayment plan payments, you do have options, but it's important to be proactive to avoid derailing your debt discharge. The Craig Black Law Fir...

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How Chapter 7 Bankruptcy Affects Business Inventory

Posted by Craig Black | Mar 10, 2025 | 0 Comments

As a business owner, you've worked hard to curate your product inventory. However, if you're filing for Chapter 7 bankruptcy, asset seizure is part of the process. Understanding how your inventory will be treated during the bankruptcy process can help you prepare to file. The Craig Black Law Fir...

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When Is the Best Time to File for Chapter 7 Bankruptcy?

Posted by Craig Black | Feb 16, 2025 | 0 Comments

Filing for Chapter 7 bankruptcy is a big move, and you don't have to do it in a rush. In fact, you're often better off waiting until the right time to file. But the best time is unique to each filer. Before filing, there are a few things to keep in mind. The Craig Black Law Firm helps debtors co...

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Is Unpaid Rent Dischargeable in Chapter 13 Bankruptcy?

Posted by Craig Black | Feb 09, 2025 | 0 Comments

Chapter 13 bankruptcy is designed to help consumers with overwhelming debt. Even once you're on a Chapter 13 repayment plan, though, you'll still be responsible for ongoing housing costs, whether that's mortgage payments or rent. If you've gotten behind on your rent payments, it's important to un...

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Your Chapter 13 Is Discharged: Here’s What to Do Next

Posted by Craig Black | Feb 02, 2025 | 0 Comments

Reaching the end of Chapter 13 bankruptcy is a big accomplishment. You've successfully completed your repayment plan, and now it's time to discharge your debt. However, many bankruptcy filers find this part of the process a little confusing since little guidance is provided. The Craig Black Law ...

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Understanding the 180-Day Rule in Chapter 7 Bankruptcy

Posted by Craig Black | Jan 02, 2025 | 0 Comments

When you file for Chapter 7 bankruptcy, most of your assets become part of the bankruptcy estate. But life doesn't pause while you're waiting for your debt to be discharged. In the days that follow filing, you may acquire property or assets through an inheritance that you weren't expecting. For t...

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3 Things That Can Derail Your Chapter 7 Bankruptcy Case

Posted by Craig Black | Dec 26, 2024 | 0 Comments

Filing for Chapter 7 bankruptcy is a big decision. But once you've made the decision, you'll likely be ready to get started. As you complete the paperwork and meet with your trustee, you'll start to realize just how important it is to follow the rules to the letter. Otherwise, you could find your...

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Understanding the Automatic Stay in Chapter 7 Bankruptcy

Posted by Craig Black | Dec 15, 2024 | 0 Comments

Debt can be overwhelming. Not only are you tasked with finding money to pay your bills, but you also deal with a steady stream of creditor phone calls and letters, reminding you of your situation. That's where Chapter 7 bankruptcy can help. Not only will you face the potential discharge of all t...

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5 Common Chapter 7 Bankruptcy Myths

Posted by Craig Black | Nov 22, 2024 | 0 Comments

Chapter 7 bankruptcy is a big step, but it can be exactly what some consumers need. Unfortunately, too many people hesitate to file because of preconceived notions about what Chapter 7 means. With so many myths surrounding bankruptcy protection, it's important to get the truth before you rule it ...

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What Are a Creditor’s Rights in Chapter 13?

Posted by Craig Black | Nov 11, 2024 | 0 Comments

When you file for Chapter 13 bankruptcy, you're asking the courts to come up with a plan to help you tackle your debts. In the process, many of your creditors will end up making less than if you'd repaid the debt as originally agreed. It can be easy to wonder if your creditors will try to stop th...

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Chapter 7 FAQs

Posted by Craig Black | Oct 25, 2024 | 0 Comments

If you're considering filing for Chapter 7 bankruptcy, it's likely a decision you don't take lightly. You may have a long list of questions with little idea of where to direct them. A licensed attorney will give you answers, but below are some of the most commonly asked questions to help you deci...

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Who Will Know If You File for Chapter 13 Bankruptcy?

Posted by Craig Black | Oct 11, 2024 | 0 Comments

Bankruptcies are public records, which technically means anyone can access the information. However, in most cases, personal bankruptcies are filed without anyone ever finding out. There are some isolated situations where your information might leak out to the public, but for the most part, your ...

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Can an Employer Fire You for Filing Chapter 13 Bankruptcy?

Posted by Craig Black | Oct 04, 2024 | 0 Comments

Chapter 13 bankruptcy requires you to repay your debts on a payment plan. To do that, you'll need regular income. That makes it one of the worst times to lose a job, so you may be understandably concerned about your boss firing you over your financial situation. The good news is that it's unlikel...

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The Chapter 7 Bankruptcy Timeline: What to Expect

Posted by Craig Black | Sep 16, 2024 | 0 Comments

Bankruptcy filings typically come after careful deliberation. You may have been scrambling to deal with your mounting debts for months, only to conclude that bankruptcy is the only option. With Chapter 7 bankruptcy, all qualifying debt is dismissed in a process known as a bankruptcy discharge. J...

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