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June 2016 Archives

What debts cannot be discharged in bankruptcy?

If you are thinking about filing for bankruptcy in Washington, D.C., it is important to gain a full understanding of what the process entails. Chapter 7 bankruptcy is often the most popular form due to the fact that you can discharge most of your debt. However, you should note that there is some debt bankruptcy cannot dissolve.

Foreclosures generating more renters and higher housing costs

Home ownership is a dream that many people in Washington, D.C., have. Often the road to reaching that goal includes getting a good college education, finding a job that pays well, and renting a place at a price that lets them save money for a down payment. However, many people who achieved that dream lost their homes when the economic crisis occurred. This led to thousands of foreclosures.

What should you consider before filing for bankruptcy?

Filing for bankruptcy in Washington, D.C. is a serious step, with potentially lasting consequences. In order to ensure that it is the right debt relief option for you, it is important that you look at your situation from every angle. Thus, there is a number of things should consider before pursuing bankruptcy relief.

Chapter 13 bankruptcy and co-signed debts

According to the U.S. Census Bureau, the median household debt was $70,000 in 2011. If you are like others in Washington, D.C., you may have a co-signer on one or more of your debts. When considering your debt relief options, such as filing for Chapter 13 bankruptcy, we at Ammerman & Goldberg “Bankruptcy” Law Office know you may be concerned about how your co-signers will be affected. In this post, we will discuss how co-signed debts are treated in Chapter 13 bankruptcy.

What should you consider when making your Chapter 13 plan?

If you are dealing with debt in Washington, D.C., but are able to make monthly payments, filing for Chapter 13 bankruptcy may provide you with the relief you need. As a part of your Chapter 13 filing, you will develop a plan to pay back a portion, or al, of your debts. At Ammerman & Goldberg “Bankruptcy” Law Office, we know the process of creating a Chapter 13 repayment plan may seem daunting. In this post, we will help you understand what factors you should consider when developing a plan for your Chapter 13 bankruptcy.

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