If you find your debt becoming overwhelming and don’t believe you can pay them, filing for bankruptcy will give you debt relief and a second chance for a fresh new start. However, if you do not know the process, it might be difficult to file for bankruptcy.
If you are in a chapter 13, here are some pointers that will help your case succeed.
Original Article Source Credits: NerdWallet , https://www.nerdwallet.com/
Article Written By: Liz Weston
Original Article Posted on: Oct 21, 2020
Link to Original Article: https://www.nerdwallet.com/article/finance/bankruptcy-best-option
The Bankruptcy Code defines "fraudulent conveyance" as a transfer made within 2 years before the date of the filing of the petition, if the transfer was made with actual intent to hinder, delay, or defraud any creditor, OR if person making the transfer received "less than a reasonably equivalent value" and was insolvent when the transfer was made. (This is a little abbreviated). Minnesota law refers to this as a "voidable transfer", which may sound less scary, but the statute of limitations is longer.
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: David Haynes
Original Article Posted on: April 18, 2021
Link to Original Article: https://www.thebalance.com/basics-of-the-bankruptcy-schedules-316222