Can You File for Bankruptcy Multiple Times?
Did you know that 16% of bankruptcies are repeat filers? [1] If you have previously filed for bankruptcy, you may be wondering if you can refile for bankruptcy again. The short answer is yes, but there are some considerations to keep in mind. How Many Times Can You File for Bankruptcy? There are limitations on […]
How Much Debt is Worth Filing Bankruptcy?
The American Bankruptcy Institute says that between August 2021 and August 2022, the number of people filing for bankruptcy went up by 10%. [1] If you have a significant amount of debt, you may be considering filing for bankruptcy. Here we will be covering how much debt is worth filing for bankruptcy, the threshold for […]
Can You File Bankruptcy on Medical Bills?
Are Medical Bills Dischargeable in Bankruptcy? In the United States, medical bills are considered unsecured debts, much like credit card debt or personal loans. This means that they can typically be discharged in a Chapter 7 bankruptcy, which allows individuals to eliminate certain types of debt and get a fresh start. The process of discharging […]
Chapter 7 vs Chapter 11 – What’s the Difference?
When facing financial challenges, individuals and businesses often turn to bankruptcy as a legal remedy. Chapter 7 and Chapter 11 are two distinct chapters within the bankruptcy code, each serving different purposes and catering to specific financial situations. Understanding the differences between Chapter 7 and Chapter 11 is important for individuals and businesses navigating the […]
Can you File for Bankruptcy and Keep Your Car?
Facing financial challenges often leads individuals to explore options such as bankruptcy to regain control of their economic well-being. One common concern during this process is the fate of essential assets, particularly one’s vehicle. Here we will address a fundamental question: Can you file for bankruptcy and still retain ownership of your car? Navigate the […]
Downside of Filing for Bankruptcy
Bankruptcy Can Be Expensive While bankruptcy offers a way to eliminate or restructure debts, it can also come with significant expenses that add to the financial burden of those seeking relief. The cost of filing for bankruptcy can vary depending on the type of bankruptcy, the complexity of the case, and the legal representation sought. […]
What Disqualifies You From Filing Bankruptcy?
When a Bankruptcy Case is Dismissed it May Disqualify a Person From Filing Bankruptcy When a bankruptcy case is dismissed, it means that the court has decided to terminate the bankruptcy proceedings before the debts are fully discharged. Regardless of the specific reason for the dismissal, having a recently dismissed bankruptcy case on your record […]
Understanding Chapter 7 vs Chapter 13 Bankruptcy: What’s the Difference?
Are You Struggling With Overwhelming Debt and Considering Bankruptcy? It’s important to understand the difference between Chapter 7 and Chapter 13 bankruptcy before making a decision that could greatly impact your financial future. Frego Law is here to help you navigate through this difficult decision. Chapter 7 vs. Chapter 13 Bankruptcy Chapter 7 and Chapter […]
Mistakes to Avoid in Liquidation Bankruptcy
Liquidation Bankruptcy Liquidation bankruptcy, also known as Chapter 7 bankruptcy, is a type of bankruptcy where an individual or business seeks to have their debts discharged by liquidating their assets. [1] In this process, a bankruptcy trustee is appointed to gather and sell the debtor’s non-exempt assets and distribute the proceeds to their creditors. It […]
What is the Bankruptcy Process in Michigan?
What is the Bankruptcy Process? Bankruptcy is a legal process that individuals and businesses can go through when they are unable to repay their debts. It provides them with relief from overwhelming financial burdens and the opportunity to start fresh. Bankruptcy allows debtors to eliminate or restructure their debts while protecting themselves from creditor actions […]