Articles Posted in Chapter 7

If a debtor wins the lottery while a bankruptcy case is ongoing, it might seem like a quick route to financial stability. However, the reality is quite complex. The impact of this windfall on a debtor’s bankruptcy case largely depends on the type of bankruptcy filed: Chapter 7 or Chapter 13, and when the lottery…

At Liviakis Law Firm, we understand that you might have questions about filing for bankruptcy, especially when it comes to your home equity. One of the most common questions we get is, “How much equity can I have in my home and still file Chapter 7?” To answer this, it’s important to understand the basics…

At Liviakis Law Firm, we often receive inquiries from people who are considering filing for Chapter 7 bankruptcy, but are unsure about the income restrictions. This article will shed light on the question, “Does Chapter 7 Bankruptcy have income limits?” Understanding Chapter 7 Bankruptcy Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a legal…

Understanding Chapter 7 Bankruptcy for Businesses Businesses, like individuals, can find themselves in financial turmoil. One option available to companies is Chapter 7 bankruptcy, but it’s not for everyone. This article will explore the concept of Chapter 7 bankruptcy and whether it could be a viable solution for a struggling business. What Is Chapter 7…

How To File Bankruptcy For Free: A Comprehensive Guide Bankruptcy provides a fresh start for those who are buried under unmanageable debt. However, the process can seem daunting, and the costs associated with filing for bankruptcy can be prohibitive for many. Fortunately, it’s possible to file bankruptcy for free, or at least at a minimal…

Bankruptcy can be a daunting experience, but it doesn’t have to mean the end of your dreams of homeownership. Many people wonder if they can still buy a house after filing bankruptcy. The answer is yes, but it requires careful planning and patience. Here’s how you can navigate this process. Understanding Bankruptcy Basics First, it’s…

Understanding Bankruptcy: Keeping Multiple Cars Bankruptcy is often viewed as a last resort for those under the crushing weight of debt. It’s a legal process that provides individuals an opportunity to seek relief from their financial obligations, but it’s not without its challenges. Among these challenges is the fear of losing personal assets, including cars.…

Understanding Chapter 7 Bankruptcy Bankruptcy is a legal process that allows individuals or businesses struggling with debt to find some relief and work towards a fresh financial start. Chapter 7, also known as ‘liquidation bankruptcy’, is one of the most common types. In this form of bankruptcy, some of your assets may be sold to…

Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” is a legal process designed to help individuals wipe out most of their general unsecured debts. However, the situation can become complicated if a debtor procures a new job during the pendency of a Chapter 7 case. The crux of the issue is how the increased…

The decision to file for Chapter 7 bankruptcy is never easy. It often brings about a multitude of questions and concerns, one of the most common being: “Will my employer find out about my bankruptcy?” At Liviakis Law Firm, we understand the concerns that come with this decision, and we’re here to provide clarity on…