Galewski Law Group,P.A.

Persons who’re in deep financial problems and can’t repay their debts regularly declare bankruptcy to get relief. Sadly, people focus too much on the disadvantages of declaring bankruptcy that they only register for bankruptcy when they’re stuck economically and can’t afford to pay their very own expenses. Many fear that declaring bankruptcy will make it hard for them to lease a house or apartment. Some resolve this by moving to a different lease before filing for bankruptcy . It’s true that filing may affect your capability to lease, but landlords do not just deny you just because you filed for bankruptcy. Why Landlords Manage Tenant Credit History? The reason why landlords run your credit history is to discover how you manage money. If they see signs of fiscal mismanagement like many foreclosures, late payments, repossessions and so forth, they might reject you. Landlords know that individuals who declare bankruptcy do so due to a number of numerous reasons, no...

Once you declare Chapter 7 bankruptcy, you get a clean slate to start over. If you file a Chapter 13 bankruptcy , you get the chance reorganize your debt and slowly settle your creditors. But, it may be simple to fall back on debt. Statistics show that between 8% and 16 percent of all bankruptcies filed are repeat figures. Even though no one wants to declare bankruptcy, it might appear that filing a second bankruptcy may happen all too frequently. How often can I File Bankruptcy? There are limitations to how frequently debt can be released by bankruptcy. Time is determined based on the filing date of your previous bankruptcy. Chapter 7 bankruptcy followed by another Chapter 7: Eight years. Chapter 13 bankruptcy followed by another Chapter 13: 2 years. Chapter 13 bankruptcy followed by a Chapter 7Six years, but sooner if you paid off your unsecured creditors in full, or at least 70% of the claims and your plan has been made in good faith. Chapter...