Posted on April 8th, 2010
Consumer bankruptcy filings have not been curbed despite the recent economic upturn. Chapter 7 bankruptcy filings were up 14% in February of 2010 compared to February of 2009. This number was also an increase of 9% from the number of filings in January, indicating an uncomfortable trend.
According to Samuel Gerdano, American Bankruptcy Institute executive director, this is the result of years of overspending and increased debt-stress catching up with individual customers.
Stricter bankruptcy laws implemented in 2005 were meant to decrease the number of Chapter 7 bankruptcy filings by requiring those with a regular income to repay their debt in full or in part over a period of several years under Chapter 13 bankruptcy. Instead, Chapter 13 bankruptcy filings have decreased by 3% from the number of filings this time last year.
If you are suffering financial difficulties and need consultation in regards to filing for Chapter 13 or Chapter 7 bankruptcy, contact contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518 to discuss your options.
Posted on April 1st, 2010
Individuals who file for Chapter 13 usually are able to switch to a Chapter 7 bankruptcy filing. In order to make the switch, individuals should consult their attorney and notify the court.
However, some individuals are not qualified to make the switch if they have filed for Chapter 7 in the last 8 years. If they are not qualified, they still have the option of canceling their Chapter 13 by notifying the court.
If you or anyone you know is considering switching from Chapter 7 to Chapter 13, contact the Milwaukee Chapter 13 bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on February 23rd, 2010
When individuals file for bankruptcy, they often must submit documents verifying their personal information. After the filing, this personal information, such as a filer’s job or address, may change.
If this information changes, then bankruptcy filers should let their attorneys know immediately. Their attorneys will be able to file the appropriate documentation to inform the court of any bankruptcy changes.
If you have questions about your bankruptcy filing, contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office at 414-377-0518.
Posted on February 23rd, 2010
Many individuals file for bankruptcy because they are unable to repay debts owed to creditors. When they file for Chapter 7 or Chapter 13 bankruptcy, they are required to list all of their creditors.
Creditors not only include banks and other loan organizations but also any friends or family members who lent the filer money. Potential bankruptcy filers, however, could avoid listing certain creditors by repaying the debt before the filing.
If you or anyone you know has considered filing for Chapter 13 bankruptcy, contact the Milwaukee Chapter 13 bankruptcy attorneys of the DeLadurantey Law Office at 414-377-0518.
Posted on January 13th, 2010
When individuals choose to file for bankruptcy, they must often consider which type of bankruptcy filing is best for them. The better bankruptcy filing option will often depend on the filer’s needs and financial situation.
Many individuals who want to keep their home or car may choose Chapter 13 bankruptcy protection. Under Chapter 13, they often will have the opportunity to repay some or all of their debts over an extended period of time. With this extension, Chapter 13 bankruptcy filers are often able to keep their home and car.
If you or anyone you know is considering Chapter 13 bankruptcy protection, contact the Milwaukee Chapter 13 lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on December 17th, 2009
Businesses are not allowed to file for Chapter 13. This restriction includes sole proprietorships. However, individuals who own a sole proprietorship do have an option.
Individuals who own a sole proprietorship can file for Chapter 13 as an individual and include the business-related debts for which they are personally liable.
Filing for Chapter 13 has a number of other requirements. If you have any questions about filing for Chapter 13, contact the Milwaukee Chapter 13 lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on December 3rd, 2009
There are many options for debtors to get out of bankruptcy more quickly. One convenient option for Chapter 13 filers is to use their home equity to pay off Chapter 13 bankruptcy liabilities.
The source of financing can come from either home acquisition interest or home equity interest. These loans can then be used as a way to extend payments on other debts.
If you or anyone you know has questions about effective strategies for bankruptcy filings, contact the Milwaukee Chapter 13 bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
