Bankruptcy Law Blog

At Liviakis Law Firm, we frequently encounter clients who are uncertain about the timing of filing for bankruptcy. The question, “Should I wait to file bankruptcy?” is a common one. The answer, like many legal questions, is “it depends.” Each individual’s financial situation is unique and the decision to file bankruptcy should be carefully considered.…

Will Chapter 13 Bankruptcy Ruin Your Life? Understanding Chapter 13 Bankruptcy Chapter 13 bankruptcy, also known as a wage earner’s plan, enables individuals with regular income to develop a plan to repay all or part of their debts. This plan allows debtors to propose a repayment plan to creditors over three to five years. It’s…

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…

Introduction Dealing with overwhelming debt can be stressful, and at times, declaring bankruptcy may seem like the only viable solution. However, the decision to file for bankruptcy is not one to be taken lightly. One of the key considerations is the amount of debt you owe. In this article, we will explore the debt thresholds…

At Liviakis Law Firm, we understand that the concept of $0 Down Bankruptcies can be both attractive and confusing, especially when you’re dealing with financial struggles. To help our clients make informed decisions, we have compiled an overview of the advantages and disadvantages of this bankruptcy option. Advantages of $0 Down Bankruptcies 1. Immediate Relief:…

Liviakis Law Firm is a reputable legal institution with a track record of assisting homeowners to navigate through the complex process of bankruptcy. This article will elucidate how bankruptcy works for a debtor that is a homeowner. Understanding Bankruptcy Bankruptcy is a legal process that allows individuals or businesses struggling with debts to seek relief…

When an individual is facing financial difficulties and is considering bankruptcy, it’s crucial to have a knowledgeable and experienced lawyer by their side. At the Liviakis Law Firm, we understand the intricacies of bankruptcy law and can guide you through the process, particularly if you are a homeowner. Bankruptcy is a legal procedure that allows…

The bankruptcy process can be a daunting one, with various types to consider depending on your financial situation. In the United States, there are three primary types of bankruptcies: Chapter 7, Chapter 11, and Chapter 13. Each has its own set of advantages and disadvantages, and the right one for you will depend on your…

Chapter 11 bankruptcy, often referred to as a “reorganization” bankruptcy, provides businesses with the opportunity to restructure their debts while continuing their operations. However, the process can be complex and time-consuming. An alternative to traditional Chapter 11 proceedings is the pre-arranged Chapter 11 bankruptcy. In this article, we delve into how a pre-arranged Chapter 11…

Understanding Chapter 13 Bankruptcy: Allowable Expense Limits As one navigates the often complex world of financial recovery, understanding the Chapter 13 bankruptcy process is crucial. One key aspect of this process is the concept of ‘allowable expense limits’. What are Allowable Expenses? When filing for Chapter 13 bankruptcy, the court considers the debtor’s ‘allowable expenses’.…