Filing for Chapter 7 bankruptcy may allow you to eliminate unsecured debts in a matter of weeks or months. It's also possible that you will be able to retain property such as a car or the equity in your Connecticut home. However, before you can file for bankruptcy,...
Stratford Bankruptcy Blog
Understanding the “means test” in chapter 7 bankruptcy
When people think of filing for bankruptcy in Connecticut, the first thing that comes to mind is Chapter 7 bankruptcy. This type of bankruptcy is often considered the "gold standard" because it allows people to discharge their debts and start over fresh. When filing...
The automatic stay in Chapter 7 bankruptcy
When a consumer is overwhelmed with debt in Connecticut, Chapter 7 bankruptcy could give them relief. It discharges some unsecured debts through selling of nonexempt property to pay creditors. Chapter 7 is often completed faster than other types of bankruptcy, and it...
Puncturing some bankruptcy myths
Connecticut residents who are heavily in debt might consider turning to bankruptcy. Some may be reluctant to file due to some myths. However, when you learn that these things are only misconceptions, it can make you feel more comfortable about the process. You’ll...
There is a new Connecticut Homestead Exemption!
The Connecticut legislature recently enacted a new homestead exemption, which will come into effect in October of this year. This is great news for anyone with large amounts of debt as well as anyone who has been contemplating declaring bankruptcy. Here’s what to know...
How over-limit fees work in Connecticut
If you have a credit card, you can decide to enter a "credit card over-limit" agreement with your credit card issuer in Connecticut so that your card can never be declined when making payments. But, this option comes with penalties and extra fees that could be...
Rebuilding credit after a bankruptcy
Many people in Connecticut and around the country are reluctant to file for bankruptcy even when their financial situations have become unmanageable and are unlikely to improve. This is often because they have been told that a Chapter 7 or Chapter 13 personal...
Dealing With Debt Collection Calls
If you receive a call at your Connecticut residence from a debt collection firm, it’s generally a good idea to listen to what that company has to say. Even if you don’t owe anybody money, ignoring collection calls will most likely lead to more calls, letters or other...
What is liquidation bankruptcy?
When you file for Chapter 7 bankruptcy in Connecticut, you'll have the opportunity to discharge most of your debts after you go through the process of liquidation. This allows you to pay off your creditors and start over with a clean slate. What is liquidation? In...
You can now file bankruptcy without leaving your home
If you are in debt and considering filing bankruptcy to get a fresh financial start, you can now complete the bankruptcy process without leaving your home. Since the COVID-19 pandemic started, people who file bankruptcy can attend their hearing by telephone. These are...
