What is Chapter 7 & Chapter 13 Bankruptcy?

What is Chapter 7 & Chapter 13 Bankruptcy?

Hi, this is Ike Shulman of Shulman Law Office. Bankruptcy is provided for in the United States Constitution and is a way for honest folks who find themselves in impossible debt situations to cancel, or “discharge,” most debts in order to get a fresh start. Bankruptcy requires only that you act honestly and make full disclosure of your assets and debts.Read more


What Assets Can I Protect If I File Bankruptcy?

What Assets Can I Protect If I File Bankruptcy?

Hi, this is Ike Shulman of Shulman Law Office. Exemptions help you determine how much of your property you get to keep when you file for bankruptcy. Exemptions play different roles depending on whether you are filing a Chapter 7 or Chapter 13 bankruptcy. Exemptions allow you to keep a certain amount of assets safe in bankruptcy, such as an inexpensive car, professional tools, clothing, and a retirement account.Read more


Can Bankruptcy Stop Creditors From Garnishing My Wages, Taking Money From My Bank Account?

Can Bankruptcy Stop Creditors From Garnishing My Wages, Taking Money From My Bank Account?

Hi, this is Ike Shulman of Shulman Law Office. If you fall behind on your debts, your creditors might sue you and try to garnish your wages. This can make it impossible for you to pay other bills, or even pay your rent or mortgage. Should you find yourself in this situation, filing for Chapter 7 or Chapter 13 bankruptcy may be the best option for you.Read more


Can I Save My Home From Foreclosure In Bankruptcy?

Can I Save My Home From Foreclosure In Bankruptcy?

Hi, this is Ike Shulman of Shulman Law Office. Yes, you can save your home from foreclosure in bankruptcyChapter 7 can only temporarily stop a foreclosure, and does not resolve the underlying problem of catching up on back payments. In a Chapter 7 case, home lenders can fairly quickly ask the court for permission to complete a foreclosure sale. Read more