Bankruptcy is a process that evaluates your entire financial picture, including all assets you own, all debt that you have and your monthly income and monthly expenses (your budget). Steiner Law Group uses all of these items to prepare your bankruptcy in a manner that is complete, accurate, and in your best interest. This article addresses the most common financial documentation needed, and why it is needed.
Chapter 7 bankruptcy can be a very useful tool to allow you to have a financial restart or fresh start, and this article explains the benefits of how chapter 7 bankruptcy can help you.
Unlike a Chapter 7 bankruptcy, a Chapter 13 bankruptcy allows you to protect more assets and catch up on overdue payments through a reorganization of your debts instead of an Chapter 7 liquidation.
Two special cases that regularly pop up during bankruptcy filings are trust fund taxes and joint debt. It’s easy to be confused when reading over bankruptcy laws and tax laws, so it’s important to partner with a skilled and experienced bankruptcy attorney from Steiner Law Group.
The most important part of going through Chapter 13 bankruptcy is developing a Chapter 13 plan that you are able to stick to successfully. Since you hold onto your assets and income and can discharge many types of debt, the sacrifice is the obligation to repay the debts and stick to a strict repayment plan.
We must develop the right thinking about how we manage our money. This starts by the renewing of your mind on how you deal with money and to utilize money for the basic needs in life.