Inheriting money while in the midst of a Chapter 7 bankruptcy can affect the bankruptcy estate and how your case proceeds. Here’s what typically happens if you inherit money or assets during a Chapter 7 bankruptcy: Timing Matters 180-Day Rule: If you inherit money or property within 180 days after filing for Chapter 7 bankruptcy, […]
Personal loans can generally be eliminated in a Chapter 7 bankruptcy filing. Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, allows individuals to discharge most of their unsecured debts, and personal loans typically fall into this category. Here’s an overview of how personal loans are treated in a Chapter 7 bankruptcy: Discharge of Personal […]
Embarking on the journey of personal budget planning is a critical step toward financial management excellence. Begin this empowering process by precisely identifying all sources of income, which lays the groundwork for astute income distribution in your financial portfolio. With a comprehensive view of your earnings, it’s easier to allocate funds purposefully. Then, embrace the […]