Chapter 13 bankruptcy is a legal action that involves submitting a plan of repayment with the assistance of a lawyer. If the plan receives court approval and regular payments are made throughout the three to five years, any debts that are leftover are often...
The automatic stay in personal bankruptcy cases
When Mississippi residents file Chapter 7 or Chapter 13 bankruptcy petitions, the judge assigned to the case issues a Notice of Filing. This causes an injunction known as an automatic stay to go into effect, which prevents creditors from attempting to collect unpaid...
Am I allowed to leave chapter 13 bankruptcy protection?
Many adults throughout the nation struggle to keep up with their debts. If you're living with debt in Mississippi, you can utilize several strategies to resolve this problem. One of the most common ways to become debt-free is by declaring bankruptcy. With that in...
How much income do you need to file for bankruptcy?
If you're struggling with debt in the state of Mississippi, you might have thought about filing for bankruptcy. Filing for Chapter 13 bankruptcy can help you pay off your debts and get your finances under control. However, Chapter 13 is only available for people who...
How Chapter 13 bankruptcy works
Debtors in Mississippi may consider bankruptcy when they can no longer handle their debts. Debtors commonly file Chapter 7, a type of bankruptcy that liquidates assets to pay creditors. Certain debts get discharged, and the individuals start fresh. Not all debtors...
How does a Chapter 13 repayment plan work during bankruptcy?
Most individuals considering bankruptcy will either file to Chapter 7 or Chapter 13 bankruptcy, although there are many other kinds of available as well. One of the features that set Chapter 13 bankruptcy apart from Chapter 7 is the requirement for filers to complete...
Reviewing the bankruptcy credit counseling requirement
To you, bankruptcy may seem like a fairly "cut-and-dry" process: you file, disclose your debts, and then have them discharged. You likely thought that at no point would you be told that you had to go through credit counseling. Many in Jackson have come to us here at...
Options to reduce credit card costs
Many people in Mississippi who find themselves with increasing levels of credit card debt may often wonder how in the world they can eventually make their debt decline instead of continue to grow. Even when making payments every month, interest rates, annual card fees...
Should I try to fast forward my Chapter 13 debt payment?
Sometimes financial fortunes in Mississippi can change quickly. You have received a large inheritance, or maybe your boss has given you a robust holiday bonus and even a big raise. No matter the reason, if you are in the middle of a Chapter 13 bankruptcy and have...
Rapper asks permission to convert Chapter 13 to Chapter 11
People in Jackson likely are willing to do all that they can in order to avoid financial struggles. Yet no one may be immune from having issues with debt. Oftentimes, those issues can become so overwhelming that bankruptcy protection is the only viable path for one to...
