Chapter 7 Bankruptcy

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...

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...

When a person realizes that his or her debt has reached an unmanageable point, it might be time to think about bankruptcy. There are two types of consumer bankruptcy to consider -- Chapter 7 and Chapter 13. While a person's income may dictate which bankruptcy he or...

Medical bills are one of the most common types of debt carried by Connecticut consumers, and for many, it can be overwhelming. One medical emergency, broken bone or extended illness, and families could find themselves facing a debt burden they can never hope to manage...

Filing for bankruptcy can be an essential lifeline for Connecticut consumers who are drowning in debt. However, deciding to file for bankruptcy is not quite as simple as filing a piece of paper and then going from there. Before any of that can take place, individuals...

Americans have been working hard to pay off their credit card debt. Consumers in Connecticut and across the rest of the nation paid off a collective $40.8 billion in the first quarter of 2018 alone, but it still might not be enough to dig themselves out of debt. When...

The Bankruptcy Abuse Prevention and Consumer Protection Act -- BAPCPA -- of 2005 cut off a significant number of Americans from pursuing Chapter 7. However, many people in Connecticut might be surprised to learn that not only do they still qualify for Chapter 7...

The absence of a repayment plan is one of the biggest ways in which Chapter 7 differs from Chapter 13 bankruptcy. There are many other differences as well, including an income cutoff regarding eligibility to file for Chapter 7 bankruptcy. In Connecticut,...

Discharging debt through bankruptcy is extremely appealing for those who are currently unable to make ends meet. While this is possible through both Chapter 7 and Chapter 13 bankruptcies, most people find the first option more appealing as the latter first requires...

One of the biggest questions people have about bankruptcy is how it might affect their future ability to purchase items, particularly on credit. One of the specific issues Connecticut filers may wonder about is their ability to buy a car during Chapter 7...