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Chapter 7, Chapter 13, AI Chat, FAQ.

  • Chapter 7

    Why Filing for Chapter 7 Bankruptcy Might Be the Best Decision for You

    Listen, I know filing for bankruptcy can feel like the end of the world. It’s easy to feel ashamed or like you’ve failed, but let me tell you something—bankruptcy isn’t the end. It’s a fresh start. Even some of the most successful people, like President Trump, have filed for bankruptcy. It’s not about failure; it’s about taking control of your life and making a smart decision for your future. Let me break it down for you so you can see how this could actually improve your life—and protect your family during these hard times.

    The Mystery of Missing Bankruptcies

    You know what’s interesting? The mystery isn’t why so many people file for bankruptcy each year—it’s why more people don’t. Only a fraction of the Americans who could benefit financially from bankruptcy actually seek relief. Last year, there were 752,160 personal bankruptcy filings, but researchers say there are “missing bankruptcies”—filings that could be happening but aren’t. Why? Fear, lack of information, and misplaced hope for government help keep people stuck. But you don’t have to be one of them.

    Bankruptcy Isn’t the First Choice, But It May Be the Best Choice

    Don’t be intimidated by the thought of filing for bankruptcy. There’s a common misconception that bankruptcy destroys your credit forever and ruins your financial prospects. Nothing is further from the truth. In fact, nearly all of our clients see an increase in their credit scores after their bankruptcy case ends. Bankruptcy offers a fresh start for you and for your financial life. It’s not about giving up—it’s about taking control.

    The Emotional Weight of Debt

    Debt doesn’t just affect your wallet; it affects your heart and mind. It can bring stress, anxiety, and sleepless nights. You might feel guilt, shame, or even hopelessness. But here’s the thing—these feelings are normal, and you’re not alone. Debt also impacts the people you love. Financial stress can strain relationships with your partner, family, and friends. The constant worry can lead to tension at home, affecting your ability to be present with your loved ones. It can cause arguments, feelings of guilt for not providing enough, or even isolation as you withdraw out of embarrassment. Your family feels the ripple effects of your financial struggles, emotionally and sometimes financially.

    How Creditors Keep You Stuck

    Creditors don’t make it easy. They use all kinds of tactics to keep you trapped:

    • Harassing calls, emails, and letters: They’ll do whatever it takes to get your attention, even if it means making you feel like someone is trying to steal your peace—or your partner’s.

    • High interest rates and late fees: These pile up, making it nearly impossible to get ahead.

    • Guilt-tripping tactics and misinformation: They’ll try to scare you away from seeking help.

    But here’s the good news: You don’t have to face them alone. Bankruptcy puts an immediate stop to these tactics.

    The Life-Changing Benefits of Chapter 7 Bankruptcy

    Chapter 7 bankruptcy isn’t just a lifeline—it’s a game-changer. Here’s how it can help you:

    • Erase Debt Quickly: Wipe out credit card debt, medical bills, and personal loans, often within just a few months.

    • Instant Relief: Creditors are legally required to stop contacting you the moment you file. No more harassing calls or letters.

    • Protect What Matters: In most cases, you can keep your home, car, and personal belongings.

    • Rebuild Your Credit: Bankruptcy gives you a clean slate, and many people see their credit score improve faster than expected.

    You Deserve Support, Not Judgment

    When you reach out for help, you won’t face judgment—just real solutions. At YesBankruptcy.com, we’re committed to your best interests. Our bankruptcy lawyers work hard to help you find real solutions to challenging financial issues. We’ll listen, explain your options, and help you move forward with confidence.

    Taking Control of Your Financial Future

    Taking control of your financial future isn’t just for you—it’s for your family too. It’s a courageous step towards restoring peace of mind, improving your relationships, and creating a more stable, hopeful future for everyone who matters to you. Bankruptcy isn’t about giving up; it’s about taking control.

    Ready for a Fresh Start?

    You’re not giving up. You’re taking control. Contact us today to schedule a free consultation. Let’s talk about how Chapter 7 bankruptcy can give you the fresh start you deserve. Your family deserves peace of mind, and this could be the way to give it to them.

  • Chapter 13

    Why Filing a Chapter 13 Bankruptcy Might Be the Best Decision for You

    Listen, I know filing for bankruptcy can feel like the end of the world. It’s easy to feel ashamed or like you’ve failed, but let me tell you something—bankruptcy isn’t the end. It’s a fresh start. Even some of the most successful people, like President Trump, have filed for bankruptcy. It’s not about failure; it’s about taking control of your life and making a smart decision for your future. Let me break it down for you so you can see how this could actually improve your life—and protect your family during these hard times.

    1. A Clear Path Out of Debt

    Think of Chapter 13 bankruptcy as a roadmap. Right now, you’re stuck in a maze of debt, with creditors breathing down your neck. Filing for bankruptcy gives you a clear, structured plan to pay back what you owe over 3 to 5 years. It’s not about running away from your problems—it’s about facing them head-on with a plan that actually works.

    2. Protection from Creditors

    You know those constant calls and letters from creditors? The ones that make your stomach drop every time the phone rings? They don’t just affect you—they create anxiety for your whole family. It can feel like someone is trying to steal your peace, your time, and even your relationships. Filing for bankruptcy stops all of that. The moment you file, an “automatic stay” kicks in, and creditors have to back off. No more harassment, no more threats. You’ll finally have some peace of mind, and so will your loved ones. No one should feel like they’re competing with debt collectors for your attention.

    3. Save Your Home

    I know how much your home means to you and your family. If you’re behind on mortgage payments, Chapter 13 lets you catch up over time. Instead of losing your home to foreclosure, you can spread out those missed payments over a few years. It’s a lifeline when you need it most, and it keeps a roof over your family’s head.

    4. Keep What Matters Most

    You don’t have to lose everything to get out of debt. Chapter 13 lets you keep your car, your home, and other important assets as long as you stick to the repayment plan. It’s about giving you a chance to rebuild, not stripping you bare. Your family’s stability is protected.

    5. Tackle Tax Debts and Other Priority Bills

    Those tax bills or child support payments hanging over your head? Chapter 13 lets you prioritize them and pay them off through your plan. And in some cases, you might even be able to discharge old tax debts completely. It’s a way to clean up the mess without drowning in it, so you can focus on providing for your family.

    6. Reduce or Eliminate Unsecured Debts

    Credit card debt, medical bills, personal loans—these can feel like a never-ending cycle. With Chapter 13, you might only have to pay back a portion of what you owe. And at the end of your plan, any remaining balances could be wiped out. That’s a huge weight off your shoulders, and it means more financial security for your family.

    7. Protect Co-Signers and Family Members

    If someone co-signed a loan for you, filing for Chapter 13 protects them too. Creditors can’t go after them while you’re in the repayment plan. It’s a way to take responsibility without dragging others down with you. And by filing, you’re shielding your family from the stress and chaos of debt collectors.

    8. Rebuild Your Credit

    I know it sounds counterintuitive, but filing for bankruptcy can actually help your credit in the long run. By sticking to your repayment plan, you’re showing that you’re serious about fixing your finances. Once the plan is done, you’ll have a clean slate to start rebuilding your credit—and that means better opportunities for your family’s future.

    9. Flexibility When Life Happens

    Life is unpredictable. If something happens—like losing your job or facing a medical emergency—you can adjust your repayment plan. It’s designed to work with your life, not against it. That flexibility means you can keep providing for your family, no matter what challenges come your way.

    10. Stop Interest and Fees

    One of the worst things about debt is how it keeps growing because of interest and fees. Chapter 13 freezes that. Your debt won’t keep ballooning while you’re in the plan, so you can actually make progress. That means more money in your pocket to take care of your family.

    11. Legal Protection

    The bankruptcy court oversees your repayment plan, so creditors can’t pull any shady moves. You’ll have the law on your side, making sure everything is fair and above board. It’s a way to stand up for yourself and your family when you need it most.

    12. A Fresh Start for You and Your Family

    At the end of the day, Chapter 13 is about giving you a fresh start. It’s not about shame or failure—it’s about taking control of your financial future. You’ll come out of this stronger, smarter, and ready to move forward. And most importantly, your family will have the stability and security they deserve.

    Who Should Consider Chapter 13?

    Chapter 13 isn’t for everyone, but it might be perfect for you if:

    • You have a steady income but can’t keep up with your debts.

    • You’re at risk of losing your home or car.

    • You have assets you want to protect.

    • You’re ready to take control of your financial future and protect your family.

    Look, I get it. Filing for bankruptcy feels like a big step, but sometimes the bravest thing you can do is ask for help. This isn’t about giving up—it’s about setting yourself up for a better future. You’ve got this, and I’ll be here to support you every step of the way. Your family deserves peace of mind, and this could be the way to give it to them.

  • AI Chat

  • FAQs

    Can you get rid of your debts by filing for bankruptcy?

    Yes, though the process is not as simple as it sounds. Nonetheless, it is possible to get rid of debts by filing for bankruptcy. While bankruptcy is just one of the common methods to manage debt, hundreds of thousands of people file for bankruptcy each year.

    How can filing for bankruptcy help you get rid of your debts?

    Before filing for bankruptcy, seek legal advice to determine if it is the best option for your situation. Although bankruptcy is a popular method to discharge debts, you must ensure it fits your case. Many firms offer free legal evaluations to assess your eligibility. Once filed, it will appear on your credit report, which may make securing new loans more challenging. If your household income is below the state median, you may qualify for Chapter 7 bankruptcy, which eliminates most debts after liquidating non-exempt assets. If your income exceeds the median, you may need to file under Chapter 13, which involves a repayment plan over 3-5 years.

    Do you lose all your assets if you file for bankruptcy?

    This is a common misconception. Filing for bankruptcy does not mean losing all your assets. Bankruptcy laws provide federal and state exemptions to protect certain assets, including your home, car, retirement accounts, and more. These exemptions vary by state and come with specific monetary limits.

    What debts can you get rid of in bankruptcy?

    Bankruptcy primarily discharges unsecured debts like credit card balances, medical bills, and unpaid utilities. Secured debts such as car loans or mortgages are not discharged unless the creditor forecloses on the collateral. Filing for bankruptcy also halts creditor harassment and collection activities through an automatic stay.

    What is bankruptcy?

    Bankruptcy is a federal legal process designed to help individuals and businesses eliminate or repay debts under the protection of the bankruptcy court. The most common types are Chapter 7 and Chapter 13, which cater to different financial situations.

    What type of relief does bankruptcy provide?

    Filing for bankruptcy triggers an automatic stay that halts creditor actions, including lawsuits, wage garnishments, and foreclosures. It also nullifies most civil judgments entered before the bankruptcy filing, providing immediate relief from collection efforts.

    Why is it legal to file for bankruptcy?

    Bankruptcy laws exist to offer a financial "fresh start" for individuals and businesses overwhelmed by debt. Recognizing that financial hardships can happen to anyone, Congress established these laws to help debtors regain financial stability, benefiting both individuals and the economy.

    How does a bankruptcy case start?

    A bankruptcy case begins by filing a petition with the U.S. Bankruptcy Court. The petition includes detailed information about your financial situation, including assets, debts, income, and expenses.

    What is a Chapter 7 bankruptcy?

    Chapter 7 bankruptcy allows for the discharge of most unsecured debts without requiring repayment. Non-exempt assets, if any, are liquidated to pay creditors. It is the most common form of bankruptcy and is available to individuals who meet specific income criteria.

    Will I lose my property if I file Chapter 7 bankruptcy?

    Most Chapter 7 filers can keep their property through exemptions that protect essential assets like your home, car, personal belongings, and retirement accounts. If you have secured debts and want to keep the collateral, you must continue making payments.

    What is a Chapter 13 bankruptcy?

    Chapter 13 bankruptcy involves creating a repayment plan to pay back part or all of your debts over 3-5 years based on your income and expenses. It allows you to keep your property and catch up on overdue payments while protecting you from creditor actions.

    How much is the court filing fee to file bankruptcy?

    The filing fee is $338 for Chapter 7 and $313 for Chapter 13. Payment plans are available, and in some cases, Chapter 7 fees can be waived based on income eligibility.

    Do I qualify to file for bankruptcy?

    Most people qualify for either Chapter 7 or Chapter 13 bankruptcy. Eligibility for Chapter 7 depends on passing a means test based on income and expenses. Chapter 13 is available to individuals with regular income who can adhere to a repayment plan.

    Am I required to complete credit counseling before filing bankruptcy?

    Yes, you must complete credit counseling from an approved agency within 180 days before filing for bankruptcy. This can be done online, over the phone, or in person and provides a certificate required for filing.

    Can I file jointly with my spouse?

    Yes, married couples can file jointly or individually, even if separated or pending divorce, as long as the divorce is not finalized.

    Will I have to appear in court?

    While you may not appear before a judge, you must attend a "341 meeting" with the bankruptcy trustee to verify your financial information. Creditors rarely attend these meetings, and they typically last a few minutes.

    Am I required to complete a debtor education course after filing bankruptcy?

    Yes, to receive a discharge, you must complete an approved debtor education course in personal financial management after filing. The course can be completed online, by phone, or in person.

    Will filing bankruptcy affect my ability to obtain credit?

    Filing for bankruptcy can temporarily lower your credit score. However, it can also help you rebuild credit by eliminating debt. Many people start improving their credit shortly after discharge by responsibly using secured credit cards and managing new credit wisely.

    How long will bankruptcy appear on my credit report?

    A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while Chapter 13 remains for up to 7 years. This does not prevent you from rebuilding credit soon after discharge.

    Are there negative consequences to filing bankruptcy?

    While bankruptcy can impact your credit score, it offers a fresh start by eliminating overwhelming debt. Federal laws protect against discrimination based on bankruptcy status, ensuring access to employment, loans, and licenses remains fair.

    What happens if my wages are being garnished?

    Filing for bankruptcy immediately stops most wage garnishments through an automatic stay. Creditors must cease garnishments unless they obtain court permission to continue.

    Will creditors return funds previously garnished?

    Funds garnished within 90 days before filing for bankruptcy may be recoverable, depending on the circumstances. Speak with your attorney to determine if you qualify to reclaim garnished wages.

    Do I have to list all my debts when filing bankruptcy?

    Yes, all debts must be listed in your bankruptcy petition. However, you can choose to reaffirm certain debts, such as a car loan or mortgage, if you wish to continue making payments and retain the asset.

    Can I add debts after filing bankruptcy?

    Yes, you can amend your bankruptcy forms to include debts you forgot to list initially, as long as they were incurred before your filing date. A small court fee may apply for amendments.

    How will bankruptcy affect my mortgage?

    Filing for bankruptcy prevents foreclosure temporarily through an automatic stay. To keep your home, you must continue making mortgage payments or reaffirm the debt. Chapter 13 allows you to catch up on missed payments over time.

    Can bankruptcy reduce my mortgage or payments?

    Generally, bankruptcy cannot modify a primary residence mortgage. However, Chapter 13 may allow you to remove second mortgages or reduce payments on investment properties or vehicles based on current value.

    Will filing bankruptcy stop foreclosure on my home?

    Yes, filing for bankruptcy initiates an automatic stay that halts foreclosure proceedings immediately. This provides temporary relief, giving you time to explore options such as repayment plans or loan modifications.

News

  • January 15, 2025

    Banktuptcies are on the rise in Los Angeles, Riverside, and Orange County

    Learn More

    Aye, listen up, youngblood.

    I see you out here, stressed, dodging calls like you’re in the Matrix, worried about bills stacking higher than your ambition. But let me drop some real game on you—you don’t have to live like this.

    Peep the numbers: in 2023, over 21,000 folks filed for bankruptcy. In 2024, that number shot up to nearly 26,000. That’s not broke people giving up—that’s smart people waking up. Folks are realizing that bankruptcy ain’t a badge of shame—it’s a reset button.

    You think they’re embarrassed? Nah. They’re out here breathing easy, sleeping through the night, reclaiming their peace while you’re still battling with stress like it owes you money.

    You hustle hard, I know that. But sometimes the real power move is knowing when to stop fighting a losing battle and start fresh. The system was built with this option for a reason. Rich folks do it all the time without blinking.

    So, what’s stopping you? Pride? Fear? Forget that. Your peace of mind is priceless. Stop drowning when there’s a life raft right in front of you.

    Handle your business. Reset. Rebuild. And shine.

  • January 16, 2025

    Financial Challenges Facing Los Angeles in 2025

    Learn More

    Recent events have significantly impacted the financial stability of many Los Angeles residents.

    Wildfires' Economic Toll: The January 2025 Southern California wildfires have caused extensive damage, destroying over 16,000 structures and resulting in at least 28 fatalities. The economic impact is substantial, with insured losses projected to exceed $20 billion, potentially setting a new record for wildfire-related insurance claims in U.S. history. Total economic losses are estimated between $250 billion and $275 billion. (Read more)

    Insurance Challenges: In response to the financial strain from the wildfires, State Farm has requested significant rate increases in California:

    • Homeowners: Up to 22%
    • Renters and Condominium Owners: 15%
    • Rental Dwellings: Up to 38%
    These proposed hikes aim to offset the over $1 billion in claims paid out due to the recent fires. Consumer advocates have raised concerns about the necessity and impact of these increases. (Read more)

    Impact on Domestic Workers: The fires have also severely affected domestic workers in Los Angeles. Many have lost their livelihoods as the homes they worked in were destroyed. Without work, these individuals face significant financial challenges, struggling to support their families and find new employment opportunities. (Read more)

    Municipal Financial Strain: The city of Los Angeles is grappling with financial difficulties, having overspent its budget by nearly $300 million. This overspending is attributed to lower-than-expected revenues and higher labor costs, including a $1 billion raise for the LAPD over four years. Additionally, record-level liability payouts have further strained the city's finances, leading to potential cuts in city services. (Read more)

    These developments underscore the multifaceted financial challenges facing Los Angeles residents and the city's administration in the wake of recent disasters and fiscal decisions.

  • January 17, 2025

    Business Owners, Let’s Talk Facts!

    Learn More

    In 2023, business bankruptcy filings shot up by 31.4%, hitting 607 cases. And in 2024, that number climbed even higher to 738—a 21.6% increase. What’s that tell you?

    Smart business owners aren’t waiting around, drowning in debt. They’re making bold moves, cutting their losses, and hitting the reset button. Bankruptcy isn’t failure—it’s a strategic decision to protect what matters and start fresh.

    Smart business owners aren’t waiting around, drowning in debt. They’re making bold moves, cutting their losses, and hitting the reset button. Bankruptcy isn’t failure—it’s a strategic decision to protect what matters and start fresh.

    If your business is struggling, don’t let pride keep you stuck. You’re not alone, and you’ve got options.

    Handle your business, reset, and rebuild.

  • February 22, 2021

    Don't Build Your App for 100 Million Users

    Learn More

    Just because we can't get out and about like we normally would, doesn’t mean we have to stop taking pictures. There’s still plenty you can do, provided you're prepared to use some imagination. Here are a few ideas to keep you shooting until normal life resumes.

    Most photographers love to shoot the unusual, and you don’t get much more unusual than These Unprecedented Times. Right now everything counts as out of the ordinary. There are a number of remarkable things about these lockdown days that are worth photographing now so we can remember them when it is all over.

    Streets empty that are usually busy are remarkable and can evoke the sense of historical pictures from before the invention of the motorcar. Other things that are different at the moment will be queues to get into stores and the lines marked out on the floor to show how far apart we should be.

    Most photographers find it hard to see interesting pictures in places in which they are most familiar. A trip somewhere new seems always exactly what our photography needed, as shooting away from home consistently inspires us to new artistic heights.

    Pretend everything is new and that you haven’t seen it before, and then you will be free to notice the leading lines, the places where one edge meets another in delightful geometric harmony, and how the ordinary things in the kitchen are transformed when the light is on or off.

    The trick here is to look slowly, and then look again. Take the time to look in detail and to look at the same thing from different angles, with different light, long lenses and wide lenses. Then move to the left a bit. You may never feel the need to leave the house again.

  • January 15, 2021

    How to Assemble a Creative Team That Clicks

    Learn More

    Just because we can't get out and about like we normally would, doesn’t mean we have to stop taking pictures. There’s still plenty you can do, provided you're prepared to use some imagination. Here are a few ideas to keep you shooting until normal life resumes.

    Most photographers love to shoot the unusual, and you don’t get much more unusual than These Unprecedented Times. Right now everything counts as out of the ordinary. There are a number of remarkable things about these lockdown days that are worth photographing now so we can remember them when it is all over.

    Streets empty that are usually busy are remarkable and can evoke the sense of historical pictures from before the invention of the motorcar. Other things that are different at the moment will be queues to get into stores and the lines marked out on the floor to show how far apart we should be.

    Most photographers find it hard to see interesting pictures in places in which they are most familiar. A trip somewhere new seems always exactly what our photography needed, as shooting away from home consistently inspires us to new artistic heights.

    Pretend everything is new and that you haven’t seen it before, and then you will be free to notice the leading lines, the places where one edge meets another in delightful geometric harmony, and how the ordinary things in the kitchen are transformed when the light is on or off.

    The trick here is to look slowly, and then look again. Take the time to look in detail and to look at the same thing from different angles, with different light, long lenses and wide lenses. Then move to the left a bit. You may never feel the need to leave the house again.

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