filing bankruptcty
DESCRIPTION
A variety of bankruptcies make people confuse. Generally two main types are popular, one is chapter 7 bankruptcy and another is chapter 13 bankruptcy. Here is graphical explanation for people to choose chapter 13 bankruptcy.TRANSCRIPT
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Find out whether the bankruptcy is the last option for you ?
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BANKRUPTCYNO
OUT
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When to file for Bankruptcy?
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When you are unable to pay your debts,
you can file bankruptcy
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Before you file for Bankruptcy you need to
understand which option suits you best ?
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Two major types of bankruptcy
Chapter 13 bankruptcy -
wipe out some debt and remaining
debt you can pay back over several
years.
Chapter 7 bankruptcy -
immediately wipes out all your debt.
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Who can file Chapter 13 Bankruptcy ?
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People with regular income
People willing to pay off Debt
People who need time to pay off Debt
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Things to Consider
Unexpired Leases
Assets and Liabilities
Executory Contracts
Current income and Expenditures
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Held a Meeting with Creditors
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Your Repayment
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Pay a court filing fees &other administrative fees
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Confirmation Hearing
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Begin making your payments
You can start within 30 days of filing plan
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Need Further
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